SmartRecruiters Secures $10 Million in Series B Funding
Hiring platform to continue massive growth while making it easier for companies to source, engage and hire the best people.
SAN FRANCISCO, Calif., August 22, 2013-- Today, SmartRecruiters, the hiring platform, announced $10 million in Series B funding led by Rembrandt Venture Partners.
“SmartRecruiters is a high-growth company that is fixing an incredibly painful problem affecting almost every business,” said Rembrandt Venture General Partner Douglas Schrier. “SmartRecruiters organizes the entire process while making it easy for companies to post jobs, assess candidates, and ultimately hire the best person for the job.”
The Mayfield Fund, the venture capital firm behind Fab, Marketo, Lyft and the lead investors in SmartRecruiters’ Series A round, also participated in the Series B financing. Since the company’s last round of funding 15 months ago, SmartRecruiters has grown from 10,000 customers and 50,000 jobs created to more than 50,000 customers and 250,000 jobs created, while increasing monthly revenue by over 800 percent.
“We were not looking to raise funds at this time, but a great partner approached us,” said SmartRecruiters CEO Jerome Ternynck. “This investment will help us put the people and infrastructure in place to bring as many customers onboard as possible, and more importantly, get more people hired.”
SmartRecruiters mission is to make hiring easy and the company’s purpose is to fix the broken labor market and eradicate unemployment. The company’s free, on-demand platform makes it easy for businesses to source, engage and hire top talent, all within one platform that includes job postings, applicant tracking, career website, collaborative hiring, candidate assessment, social recruiting, agency management, Facebook app, direct sourcing, recruiting analytics, mobile recruiting, and an awesome candidate experience. With SmartRecruiters, employers can manage the entire recruiting and hiring process from start to finish, empowering businesses to make great hires faster than ever before.
“The global labor market is massively inefficient, costing businesses billions of dollars each year,” Schrier said. “SmartRecruiters has a wonderful product and a fantastic, excited customer base. We wanted to help give them the ammunition they need to keep growing at the right pace over the next several years.”
“I just want us to create more jobs,” says SmartRecruiters CEO Jerome Ternynck.
SmartRecruiters is the hiring platform. Leveraging the latest cloud technologies along with intuitive design, the SmartRecruiters platform gives social enterprises everything they need to post jobs, manage candidates and make the right hire. The mission of SmartRecruiters is to eradicate unemployment by removing friction in the labor market. Its 50,000+ customers have created well over 250,000 jobs. Founded in 2010, SmartRecruiters is backed by Mayfield and based in San Francisco, CA. Hiring Made Easy. http://www.smartrecruiters.com/
Rembrandt is an early-stage venture capital firm established in 2004 and based in Menlo Park, CA. Rembrandt's partners apply their extensive operating experience to help talented entrepreneurs build great companies in emerging market categories. Rembrandt invests in early stage Information Technology companies in the categories of Software Products and Services, Communications, Internet Infrastructure, and Mobility. For more information, please visit http://www.rembrandtvc.com.
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