MentorcliQ raises over $80 million to grow its employee mentoring software and services

“The program was highly inefficient, which made it impossible to scale to the rest of the company in order to leverage the benefits of mentoring across the organization,” George told TechCrunch in an email interview. “MentorcliQ is a mentoring software platform that helps companies solve exceedingly common and expensive employee engagement, development and retention challenges,” George said. “The algorithm then looks at the landscape to find an optimal set of matches.” While the tech industry’s outlook seems bleak, George — when asked about MentorcliQ’s growth strategy — said he believes companies will continue to invest in mentoring particularly as they search for cost-effective ways to leveraging existing talent. According to a recent study by Gartner and Capital Analytics, retention rates for mentees are 72% higher compared to 49% for employees who don’t participate in a mentorship program. Building culture while delivering return on investment is a winning combination during more challenging economic times.” Signaling its expansion intentions, MentorcliQ recently hired a new chief revenue officer and plans to increase the size of its roughly 120-person team over the next 12 months.