The Acquisition Combines MentorcliQ’s #1 Rated Software Platform with River’s 20-Years’ Experience To Better Serve Companies Looking to Develop World-Class Employee Mentoring Experiences
COLUMBUS, Ohio–(BUSINESS WIRE)–#acquisition—MentorcliQ, the leader in employee mentoring software announces the acquisition of River, increasing MentorcliQ’s market share and furthering its position as the #1 employee mentoring platform for enterprises globally.
River Software, based in Denver, Colorado, pioneered the mentoring software market in the early 2000s with the release of the first commercially available mentoring platform, Open Mentoring. Over the last 20 years, River has continued to innovate and support an impressive roster of Fortune 500 and DiversityInc Top 50 companies including Sodexo, Goodyear, Robert Half, and more.
Phil George, CEO of MentorcliQ says “We are thrilled to join forces with River Software. River has built an impressive presence and reputation in the employee mentoring space for two decades and we have always greatly admired their work. River is composed of talented individuals who care deeply about mentoring and are driven to help clients support their employees’ careers, leading to much higher employee retention. This approach aligns perfectly with the way MentorcliQ partners with the many companies we are proud to serve. Our combined knowledge, experience and customer success will be unparalleled in the market.”
River Software President, Chris Browning says, “I’ve had the pleasure of being part of River since 2004, serving as its President since 2016. From day one, our goal has been to enable employees to break down silos so that they could share knowledge and expertise with one another through mentoring. Joining forces with MentorcliQ is a natural fit. We are excited to blend our fantastic teams so that we can provide the market with the very best solution for their employee development needs.”
George says, “With this acquisition, we are combining River’s 20+ years of experience with MentorcliQ’s #1 rated software platform [based on client reviews on Gartner site, Capterra]. The combined family of clients will benefit immediately by learning from each other at our joint annual conference on September 16-17, called MentorCom 2020.”
“Prior to the acquisition, MentorcliQ revenue was up over 50% for the year. The combination of recent events has only further solidified mentoring as a core part of any talent strategy.” George says, “COVID-19 has made remote work a necessity, and companies are turning to MentorcliQ and River to help connect their employees in these difficult times to engage, develop, and retain them.”
In addition, the Black Lives Matter movement has accelerated the interest of many companies to elevate their Diversity & Inclusion goals. More DiversityInc Top 50 companies rely on MentorcliQ than any other mentoring software company. River has always been a leader for Diversity & Inclusion as well. DiversityInc’s #1 company of 2019, AT&T, has been a River client for more than 10 years.
Both MentorcliQ and River have successfully helped companies prove that mentoring is one of the most cost-effective methods (important in a global recession) to engage, develop, and retain employees. Sodexo, a global Fortune 500 company and the worldwide leader in facility services, won a Brandon Hall award for demonstrating 92% employee retention rate among participants in their LIFT mentoring program. MentorcliQ has achieved similar results for its clients. For example, Clorox, a Fortune 500 producer of household goods, has demonstrated a 41% improvement in employee retention through mentoring, which led to a 19X ROI based on their investment in MentorcliQ.
Following the acquisition, River Software will operate as a wholly-owned subsidiary of MentorcliQ. Chris Browning will remain in his role as River’s President. Clients of River will retain their customer-facing support personnel and the same high standard of service and results they have come to expect as a River client. To learn more about how MentorcliQ and River are helping customers with today’s most critical talent challenges visit: www.mentorcliq.com/mentorcliq-and-river
About River
Recently acquired by MentorcliQ, River is a full-service mentoring solution, offering mentoring software, training, and consulting. Based in Denver, CO, they serve clients from a diverse client base, including Fortune 500 companies, government agencies and medium enterprises. To learn more about River, please visit www.riversoftware.com.
About MentorcliQ
MentorcliQ, relationship-based employee development platform and the leader in employee mentoring software. MentorcliQ drives employee retention by helping them to excel at their company and in their career. Virtual by design, for global employee populations, MentorcliQ is proudly improving the workplace for over 3 million employees. Organizations rely on MentorcliQ to power their comprehensive employee development strategy through mentoring in over 150 countries worldwide. For more information on MentorcliQ, please visit: https://mentorcliq.com.
Contacts
Lynn Munroe, 845.548.1211
lynn.monroe@mentorcliq.com
