Visual Workforce Receives Business Development Grant
$100,000 in funding will help company enhance tools to help employers recruit, retain and develop talent
Richmond, Virginia, July 14, 2021 - Visual Workforce Inc., a leading provider of skills management and workforce visualization software, today announced it has been awarded the maximum grant of $100,000 from the Virginia Innovative Partnership Authority’s Commonwealth Commercialization Fund. The state award will be put toward further development and enhancement of tools to aid companies in recruiting, developing and retaining talent in their workplaces.
Visual Workforce, based in Richmond, Virginia, and conveniently accessible to the nation’s capital of Washington, D.C., is a leading provider of skills management and workforce visualization software. It helps small to mid-sized businesses with limited human resource staffing find creative ways to attract, retain and develop a talented workforce.
“We are very pleased to have been selected to receive this grant from the VIPA,” said Bryan Bostic, president and CEO of Visual Workforce. “Attracting and retaining talent is critical to the success of all Virginia companies. To maximize talent, you have to leverage the data associated with human capital, and that process requires fast and efficient data capture coupled with easyto-interpret, data-driven visualizations. This grant further extends our analytics and data capture capabilities.”
Commonwealth Commercialization Fund grants are targeted at early-stage technology companies that work with industries of strategic importance to Virginia. As a part of two rapidly expanding sectors, Human Capital Management and Human Resources Analytics, Visual Workforce “is a perfect fit for the strategic goals of the fund as qualified talent is critical to corporate success and job growth in Virginia,” said Bob Stolle, president of the VIPA. Visual Workforce’s high-level clientele includes respected companies in Virginia’s high-impact sectors such as information technology, health care, consulting, manufacturing, defense contracting and engineering. Clients use Visual Workforce’s tools to automate the capture of critical skills and competency data to provide business leaders with data driven insights into their people.
Visual Workforce will use the state funding, along with a company matching investment, to further develop and enhance the Master Skills Library and Internal Mobility tools currently in use, as well as enhanced support for sales and marketing activities. The project will be completed this year.
“Our Master Skills Library puts thousands of industry-specific job roles and associated skills at your fingertips – and it is the only integrated plug-and-play skills framework for the small-tomidsize marketplace, a real game changer for HR professionals,” said Bostic, who has built several successful companies, including 2B Technology Inc., which he sold to Ticketmaster in 2000, and Smartbox, sold to Sirva Worldwide in 2014. Bostic also is an active investor and mentor who serves on the boards of Startup Virginia, which he co-founded, as well as Activation Capital, James Madison University Gilliam Center for Entrepreneurship, and Dominion Energy Innovation Center.
The Commonwealth Commercialization Fund was launched on July 1, 2020, to foster innovative and collaborative efforts in Virginia. Combining two legacy state programs, the Commonwealth Research Commercialization Fund and the Virginia Research Innovation Fund, CCF seeks technologies with a high potential for economic development and job creation and that position the Commonwealth as a national leader in science- and technology-based research and development for commercial application.
Visual Workforce is available to consult with new clients seeking a revolutionary way to make human capital decisions through skills management and workforce visualization. Learn more and contact Visual Workforce at visualworkforce.com.
Governor’s news release: Governor Northam Announces $3.4 Million to Advance Research Commercialization in Key Technology Sectors
##
About Visual Workforce
Visual Workforce is a leading provider of skills management and workforce visualization software. Its revolutionary SaaS solution allows companies to automate the capture of critical skills and capabilities data and provide business leaders with clear, data-driven insight into their people through powerful visualizations. With headquarters in Richmond, Virginia, and conveniently accessible to the U.S. capital of Washington, D.C., Visual Workforce serves clients across the nation and the world. visualworkforce.com.
About VIPA and CIT
The Virginia Innovation Partnership Authority (VIPA), with the Center for Innovative Technology (CIT) as its operating arm and managing nonprofit, was established in 2020 to support the life cycle of innovation, resulting in the creation of new jobs and company formation. VIPA supports the full innovation life cycle from translational research to entrepreneurship, and pre-seed and seed-stage funding as well as acceleration, growth, and commercialization. The authority provides a collaborative, consistent, and consolidated approach that will assist the Commonwealth in identifying its entrepreneurial strengths, including the identification of talents and resources that make the Commonwealth a unique place to grow and attract technology based businesses. Center for Innovative Technology (CIT)