MentorcliQ, an employee mentoring and coaching software company, raised more than USD 80 million in a funding round led by PSG, with participation from Rev1 Ventures and Plymouth Growth, taking its total funding to more than USD 100 million. 

The company plans to use the funds for product development and customer acquisition.

MentorcliQ is a software platform that provides employee mentoring solutions to companies. It offers a comprehensive solution that guides customers through the entire mentoring process, from designing and executing mentoring strategies to measuring impact. The software allows companies to run multiple mentoring programs from a single interface and controls which users participate in the programs. MentorcliQ's matching algorithm is designed to optimize mentoring matches for the entire population of participants, taking into account factors such as matching rules, suggested matches, the timing of mentoring programs, employee turnover, and new hires.

Analyst QuickTake: Investors are showing more interest in employee mentoring and coaching solutions, despite economic challenges and job cuts. These solutions are crucial in engaging, developing, and retaining existing employees. GrowthSpace, a coaching and mentoring platform, secured USD 25 million in funding in August 2022 to expand its global operations and meet the rising demand for G2 category leaders.