PlanDo is a collaborative software-as-a-service (SaaS) career platform, and the funds - A$450,000 in cash and ‘sweat’ equity of A$466,000 – were raised in the company’s first major capital raising.
Investment by was led by HR professionals, including Bob Barbour, HR Director at Lion and now a board member of PlanDo, Ann Whyte, CEO of Whyte Co. and Dr Travis Kemp, a behavioural scientist with both the University of Sydney and University of South Australia.
The capital raising was 40% oversubscribed.
“PlanDo is about democratising the idea of career management that has been traditionally owned by enterprise.
“We want to enable individuals to be self-directed in their performance and growth because it’s important to well-being in the increasingly unpredictable world of work. We’re offering all the collaborative tools and resources that you would generally find within enterprise to career owners.”
According to Moore, more businesses both in Australia and globally are deciding to ditch the annual performance review. “Accenture, Deloitte and GE have scrapped theirs, confirming that businesses no longer measure things annually anymore and individuals, particularly millennials; want feedback on their performance more often”.
Moore says that with Australia having one of the highest proportions of part-time, contract and casual employees in the OECD and with about one-third of all Australian jobs part-time, there is a progressive move to shift the onus of career planning to the individual.
“Careers are no longer linear and individuals want to be able to manage their career paths in the most seamless way possible,” said Moore.
“For many of us, we’ll hold many roles throughout our working life and the ability to be able to track our progress and keep that record with us is invaluable. PlanDo enables individuals to really take control of their careers while allowing them to work more collaboratively with their employers, resulting in greater job satisfaction and performance.”