Business

UrbanBound raises $5M to save corporate employees from the stress of relocation

urbanbound
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“Corporate relocation” isn’t a sexy word, but it’s helping UrbanBound raise $5 million.

UrbanBound’s web-based platform gives employees an easy way to manage their entire relocation process, connecting them with vendors who specialize in the services they need — i.e., moving truck rentals or realtor services.

The first round of funding, led by Grotech Ventures and joined by StarVest Partners, is a major vote of confidence in UrbanBound’s approach, which the company says brings much-needed innovation to the $30 billion corporate relocation market.

It’s a big deal for companies, too: UrbanBound argues that the smoother companies make their relocation process, the more they can boost their offer-to-acceptance ratios.

That approach, UrbanBound says, has gotten it significant attention from over 100 customers, most of which are members of the Fortune 1000.

Headquartered in Chicago, UrbanBound has raised $6 million in since its launch in 2010.  The company says it plans to use the funding to hire more developers and sales people, as well as expand internationally.