Fuel50, a Los Angeles, CA-based provider of a career pathing software solution for companies, raised $2.5m in Series A funding.
The round was led by Rincon Venture Partners and Bonfire Ventures. In conjunction with the funding, Jim Andelman, co-founder and Managing Director of Rincon Venture Partners, joined Bonfire’s board.
The company intends to use the funds to continue to expand its business reach.
Launched in 2014 by co-founders Anne Fulton and Jo Mills, Fuel50 provides a cloud-based career pathing software solution to enable company leaders to engage and motivate their teams, and empower employees to have a visible career path within their organization.
Fuel50 is currently in use by 75 Fortune 500 companies, deployed across 33 countries and in 28 languages, and serving hundreds of thousands of employees.