DeveloperAuction Closes New Funding to Connect Hiring Companies to Top Developer Talent

SAN FRANCISCO and NEW YORK, March 14, 2013-- DeveloperAuction announced today at the F.ounders conference that it has closed a $2.7 million first-round investment led by NEA and Sierra Ventures, with participation from Crosslink Capital, Google Ventures, Jeff Clavier's SoftTech VC, and John Suliman's Step Partners.

DeveloperAuction was founded to give sought-after developers a better job seeking experience. It provides a hassle-free way for developers to discover and connect to job opportunities at tech companies of all sizes. For hiring companies, DeveloperAuction is an alternative to traditional executive recruiting that lets them compete for the top developers and engineers they need for growth, and fill open positions quicker and more effectively.

DeveloperAuction was founded by Matt Mickiewicz, who previously founded 99designs; Douglas Feirstein, who previously founded LiveOps; and serial entrepreneur Allan Grant. Each has experience successfully disrupting a business services market by connecting companies to a marketplace of skilled workers.

"The most common tactic for recruiters is spamming LinkedIn, and it's not unusual for a Silicon Valley engineer to receive 30-50 unsolicited and off-base LinkedIn messages a month from recruiters," said Mickiewicz, co-founder and CEO of DeveloperAuction. "It's a waste of time and resources for all parties involved. At DeveloperAuction, we're providing a better way that has already attracted the attention of thousands of engineers from top companies."

To date, $225 million in job offers has passed through the DeveloperAuction marketplace. Developers sign up on the site, and each month DeveloperAuction picks the top 150 candidates who are actively seeking new opportunities. A two-week "auction" is conducted where venture-backed companies submit interview requests to candidates, along with information about the company and culture, founding team, and high-level compensation information like base salary and signing bonus. Engineers choose the companies they want to interview with, and if there is a fit, a formal offer is extended.

Every job seeker is assigned a dedicated Talent Advocate who represents their interests and helps them navigate through the process. On a new recruit's first day, DeveloperAuction pays out an additional signing bonus and sends them a bottle of Champagne to congratulate them on their new job.

About DeveloperAuction

DeveloperAuction is a venture-backed startup that connects employers to top talent in Silicon Valley, New York and beyond. Company headquarters are in San Francisco. More information is available at www.developerauction.com.

Contact:
Media Contact:
Erica Schaefer
developerauction@mightypr.com
401.714.6883

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