UrbanBound, a Chicago, IL-based provider of a relocation management platform, raised $8.5m in Series B funding.
The round was led by Romar Partners with participation from Moderne Ventures as well as existing investors Grotech Ventures and Starvest Partners.
The company intends to use the funds to accelerate product development, broaden sales efforts and grow the team in the new Chicago office, while continuing to expand its client base.
Led by Michael Krasman, CEO and Co-Founder, UrbanBound provides all types of companies, from technology startups to the Fortune 500, with a SaaS-based platform to administer, track, and optimize relocation benefits, forecast and contain relocation costs, and build smart policies, while offering a customized employee experience and connecting people at the right time.
The company currently employs over 40 people.