SOURCE: UrbanBound, Inc.

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April 25, 2016 09:00 ET

UrbanBound Closes $8.5M Series B Funding to Improve Employee Relocation

Chicago Startup Brings Technology to Employee Relocation Management

CHICAGO, IL--(Marketwired - April 25, 2016) -  UrbanBound, the software-as-a-service (SaaS) platform that is transforming the way companies relocate employees, today announced it has raised $8.5M in Series B funding led by Romar Partners, joined by Moderne Ventures as well as existing investors Grotech Ventures and Starvest Partners.

As the leading provider of Relocation Management Software (RMS), UrbanBound empowers companies with the technology to administer, track, and optimize relocation benefits. By bringing a tech-enabled solution to the largely offline corporate relocation process, UrbanBound ensures companies will generate a significant ROI while providing a successful and tailored relocation experience for their employees.

This new investment will help:

  • Accelerate product development and pace of innovation
  • Broaden sales efforts and grow our team in our new Chicago office
  • Continue expansion of an already impressive client base, which currently includes many global industry leaders

"The $60 billion global relocation market, which has remained largely manual and offline, is overdue for a comprehensive tech-enabled solution. Corporations are projecting a 50% growth in employee relocation assignments by the year 2020, and UrbanBound is positioned to remain the leader in filling the significant technology void in the industry," said Scott Wald, Partner, Romar Partners.

"UrbanBound continues to be recognized as the leading innovator of new technology for the relocation industry," said Michael Krasman, CEO and Co-Founder. "This new funding from incredibly experienced investors keeps us on path to achieving our vision of providing the best tech-enabled solutions for employee relocation."

All types of companies, from leading technology startups to the Fortune 500, are leveraging UrbanBound to relocate employees more efficiently and create significant cost savings, ultimately boosting employee retention.

About UrbanBound:

As a leading provider of Relocation Management Software, UrbanBound empowers companies with the technology to administer, track, and optimize relocation benefits, while providing a tailored employee experience. With its comprehensive and intuitive platform, corporations can forecast and contain relocation costs, build smarter policies, and distribute better benefits. A successful relocation begins and ends with UrbanBound. Visit us at www.urbanbound.com

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