Behind the Scenes at UrbanBound: Meet Michael Krasman


UrbanBound's very own Michael Krasman—CEO and co-founder—was recently interviewed by Tim Schumm, host of the Fireside Chicago podcast, which features prominent Chicago business leaders. The conversation intrigued even those of us who’ve known Michael for years. That gave us an idea: let’s throw a spotlight on our beloved CEO, recap highlights of his remarkable story, and share his off-the-cuff advice for aspiring entrepreneurs.

Michael’s Journey as a Serial Entrepreneur

In the Beginning

Entrepreneurship has always been part of Michael’s mindset, even in childhood. In middle-school, he was selling candy on the school bus. In high school, he was the neighborhood’s fireworks supplier.

When Michael arrived on University of Michigan campus in 1995, he jumped on the new, high-speed internet that had just been installed in his freshman dorm—and was instantly smitten.

Soon after, he and his college buddies formed a web design service for doctors and lawyers. From there, they created their own website,, an academic resource for students.

Versity grew. And grew. A year before graduation, they merged the company with a similar, College Club. He and his partners relocated to San Francisco, started raising venture capital, and made plans to go public. But then the bubble burst, along with their dreams.

Michael returned to Ann Arbor to finish his coursework. Not only did he graduate with high honors from Michigan’s Ross School of Business, it was there that he met Jeff Ellman—a brilliant business student at Michigan State, and a constant in his future business partnerships.


Tech’s Gold Rush Days

According to Michael, the early-2000’s tech scene felt like the gold rush. Anything was possible. Although no one knew at the time how the Internet would impact commerce, he knew it would disrupt everything—and he wanted to be part of it.

Over the next 20 years, Michael formed five high-growth tech companies (following a brief stint as a New York investment banker). While developing one business, he and his partners would uncover related needs that would spark another start-up. Together, he and Jeff Ellman launched:

  • Homescout Realty, a free apartment locator service that was sold to Coldwell Banker in 2016.
  • Hireology, an award-winning recruiting platform that helps managers at over 8,000 companies make better hiring decisions based on data, and
  • UrbanBound, the first tech-based relocation management solution, which was founded in 2010 and continues to revolutionize the way companies manage relocation.

Stay up to date

Subscribe to the blog for the latest updates

UrbanBound on the Rise

Today, Michael and Jeff oversee UrbanBound’s growth and development. UrbanBound’s easy-to-use software solution offers a fresh alternative to traditional relocation management companies, with their expensive fees and outdated processes. (See Why UrbanBound is Growing and Legacy RMCs Are Shrinking.)

UB’s service offerings continue to evolve. Last year, we introduced Freeway, a revolutionary managed budget product that merges cost control with freedom of choice. Now, we are poised to re-introduce Pre-decision Services, a unique standalone product that boosts job offer acceptance rates.

Throughout the COVID-19 crisis, UrbanBound continued to hire new employees and bring on new clients, while developing solutions for employees relocating safely during the pandemic. As Michael noted in his Fireside Chicago interview, as a survivor of the burst of 2000 and the recession of 2008, he is fully confident we’ll emerge from this that much smarter and stronger.

Visit Fireside Chicago for the entire interview.

Human Resources Today