Continuum Lands $12 Million In Funding To Attack The Fractional Executive Space
Two years on, Salt Lake City-based Continuum is accelerating its efforts to support companies and seasoned executives with its HRtech SaaS platform
Once again, another Utah-based company operating below-the-radar has emerged to announce a fairly significant round of funding to help accelerate its growth.
In this instance the company in question is Salt Lake City-based Continuum, an HRtech Software-as-a-Service company that serves as a platform to bring together seasoned executives with organizations that need their services on a part-time and/or fractional basis.
According to its news release, Continuum has raised $12 million in a Series A round of funding, led by Cottonwood Heights, Utah-based Pelion Ventures, with participation from Uncork Capital, Day One Ventures. Angel investors that participated in the round included Blake Murray (CEO of Divvy), Vivek Sodera (Founder of Superhuman), Matt Mickiewicz (Founder of Hired, Flippa, 99 Designs), Sander Daniels (Founder of Thumbtack), and Joseph Woodburry (CEO of Neighbor), and many others.
Executives interested in potentially offering their expertise and services to companies in need go through a three-minute application process by answering roughly 15 questions. This adds applicants to a Waitlist as candidates are vetted by Continuum.
According to the news release, this process
“... (allows) companies (to) access executives who can solve that company's problems through coaching, project-based, or interim work. Continuum vets and accepts less than 1% of executive applicants.”
Additionally, executives must have experience at a VC-backed company in a Director+ role.
Conversely, for organizations looking for external services via a consultative and/or fractional executive, Continuum is quite up-front about the fact that it
“work(s) best with venture-backed startups, companies with more than $10M in annual revenue, or companies in a high growth phase.”
As a virtual middle man, Continuum claims it can curate a match within 48 hours between an executive who’s previously solved a company’s problem and lived through and beyond the firm’s size/stage.
Continuum then facilitates an initial phone call to align on scope, retainer, duration, and more, while Continuum handles back-office overhead for companies and executives, including contracts, invoices, payouts and taxes.
After the kickoff call, companies can cancel an engagement at any time.
Additionally, concurrent with what it sees as the economic uncertainty of today, Continuum disclosed that it has begun offering a service for companies considering layoffs/reductions in force (RIFs).
“If you handle them properly, layoffs can actually improve your reputation and strengthen your culture,” said Continuum CEO and Co-Founder, Nolan Church. “Continuum executives, who have led layoffs themselves, have your back every step of the way and can offer frameworks that put people at the center.”
Prior to launching Continuum, Church served as the top HR executive for both DoorDash and Carta.
Information about the company’s layoff services can be found here.