Enterprise human resources and finance management software provider Workday acquired US-based talent development platform operator Rallyteam for an undisclosed sum on Thursday.
Founded in 2013, Rallyteam has created a software platform that deploys machine learning to match employees with occupational opportunities available from within their present organisation.
The platform is designed to reduce employees’ propensity to switch jobs by keeping them engaged internally according to their interests, skills and connections.
Workday is expected to integrate Rallyteam’s development team with its own engineering unit to enhance its machine learning capabilities and exploit Rallyteam’s expertise in talent development.
Talent management software producer Cornerstone OnDemand and law firm Wilson Sonsini Goodrich and Rosati both backed Rallyteam’s $8.6m series A round in November 2017, which was co-led by venture capital firms Norwest Venture Partners and Storm Ventures.
Cornerstone’s strategic investment arm, Cornerstone Innovation Fund, had already supplied Rallyteam with an undisclosed amount of seed funding in 2015.
Cristina Goldt, vice-president for human capital management products at Workday, said: “As the world of work continues moving toward a marketplace for talent and skills, this team will apply its deep expertise to power Workday’s products with even more intelligence that will help customers uncover the best talent – inside and outside of their organisations – to meet business needs.”