Jobvite Secures $25 Million of Expansion Capital Led by Catalyst Investors
San Mateo, Calif. — (October 7, 2014) — Jobvite, the comprehensive recruiting solution for the world’s fastest growing companies, today announced that it closed $25 million in Series D funding led by growth equity firm Catalyst Investors. Catalyst joins existing investors CMEA, ATA Ventures and Trident Capital. The investment serves as a strong endorsement of Jobvite’s vision to create a new standard in recruiting for the modern business.
Jobvite is the only standalone recruiting solution that offers the necessary tools to engage and hire candidates by taking advantage of social, mobile, video and data analytics. The company currently fuels the growth of more than 1,600 companies including Starbucks, Twitter and Farmers Insurance, as well as nine of the last 11 top tech IPOs. Today, recruiters take a multi-channel approach to nurturing and engaging prospective candidates at every touch point. Jobvite is transforming recruiting from the era of job boards and legacy software to a new phase in which recruiting is now marketing.
“We see Jobvite as transformative and innovative, serving fast-growing companies and enterprises alike in recruiting the best employees,” said Ryan McNally, partner and co-founder of Catalyst Investors. “We are confident that with additional capital and resources, Jobvite will continue to lead the industry in providing best-of-breed recruiting solutions.”
“Today, a company’s success or failure sits on the shoulders of its talent,” said Dan Finnigan, CEO of Jobvite. “Recruiting is critical to moving industries forward and spurring innovation. Catalyst is a key partner who understands that legacy systems can no longer support the modern workforce and aligns with our mission to deliver the platform to meet the demands of modern recruiting. This round of financing validates our vision and will enable us to bring this vision to life on a global scale.”
Jobvite has experienced strong growth since its first funding round in 2007 and continues to deliver impressive levels of innovation. Major milestones include:
- Rapid Innovation — Jobvite provides recruiters with innovations to harness the most significant technological advancements and trends including social, mobile, big data and beyond. The company’s comprehensive recruiting solution supports recruiters throughout the entire recruiting “funnel” with Jobvite Refer, Jobvite Engage, Jobvite Hire, Jobvite Video and Jobvite’s mobile career website solution.
- A Recruitment Standard — Jobvite empowers recruiters to move beyond legacy applicant tracking systems to focus on building talent pools and engaging candidates at each step in the recruiting process. The company helps recruiters to source candidates, nurture relationships and hire talent by utilizing all available channels.
- Expanded Customer Base — Jobvite powers the expansion of fast-growth companies like TED Conferences to enterprises like GroupM and SM Energy. Jobvite customers have hired more than 200,000 people; 46 million job seekers interact with a Jobvite-powered career site annually. Since Jobvite’s last investment, the company has increased the number of job seeker profiles in its system by 400 percent amounting to 33 million profiles. Additionally, the number of hires through Jobvite has increased by 566 percent.
- Continued Employee Growth — Jobvite has experienced significant employee growth since its inception in 2003. The company has more than doubled its employee count since its last investment, reaching more than 100 employees.
Kristen Ford or Laura Spaventa