Hireology Raises $10 Million in Series B Funding From Bain Capital Ventures
HR Technology Innovator Accelerates Growth and Expansion Into New Markets
CHICAGO, Ill., August 12, 2014-- Hireology, the leading provider of employee hiring and selection management technology for multi-location organizations, today announced that it has raised $10M in Series B funding from Bain Capital Ventures.
Named the No. 1 Talent Management Platform in 2014 by HRO Today, Hireology leverages proprietary data and predictive analytics to help managers make the right hiring choice. Their flagship Selection Managerô platform -- a turnkey system that incorporates robust interview and selection tools; access to leading job boards; skills tests and personality assessments; and background screening -- is used by over 1,500 customers globally across a variety of industries and business models including franchises, retail networks, dealer/distributor networks, financial services networks, physician groups and multisite manufacturers.
Mike Krupka, Managing Director of Bain Capital Ventures, led the funding on behalf of the firm and will join Hireology's Board of Directors. Bain Capital Ventures invests in technology and technology-driven companies across all stages of development and has significant experience in HR application companies including Liazon, LinkedIn, SurveyMonkey and Taleo.
"In just a few years, Hireology has grown from a promising start-up into a major player in the HR technology field, providing easy-to-use talent management technology to organizations that previously did everything manually," said Krupka. "Recognizing the strong growth potential of this company, we are excited to help Hireology expand and continue to bring much-needed innovation to decentralized hiring organizations around the globe."
The proceeds from this investment will be used to accelerate Hireology's customer acquisition and for continued investment in the development of proprietary analytics and technology to help field-based organizations transform their hiring processes.
"In a market that has traditionally focused on the administrative side of hiring, Hireology is unique in its mission to deliver better outcomes," said Adam Robinson, Hireology co-founder and CEO. "Bain Capital Ventures has an unparalleled track record investing in disruptive HR technology. Mike and the BCV team bring their incredible experience and network to Hireology at precisely the right time."
About Bain Capital Ventures
Bain Capital Ventures is the venture and growth affiliate of Bain Capital. BCV manages more than $2.9 billion of committed capital and has over 65 active portfolio companies. BCV invests from seed-stage through growth equity in companies focused on technologies and technology-enabled services aimed towards enterprise customers. BCV has offices in Boston, New York and Palo Alto. The firm has helped steer many ideas to success by partnering with talented and passionate management teams and deeply collaborating with them on long-term strategies. For more information please visit www.baincapitalventures.com or follow us at @BainCapVC.
Hireology was founded on a simple but powerful concept: by analyzing the behaviors of top-performing employees, organizations can create highly accurate systems for identifying the best candidate for the job. Through its innovative Selection Managerô platform, Hireology helps decentralized organizations across all industries and locations transform their talent acquisition processes and make well-informed, science-based decisions about their candidates. What results are better hiring decisions, lower turnover, and increased productivity and profitability at each location. For more information, please visit http://www.hireology.com or follow us on twitter @Hireology.
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