Hired raises another $30m to recruit tech talent for Facebook, Uber and top tech companies
Recruitment startup Hired has landed a new round of funding just months after it last raised cash, City PM can exclusively reveal.
The Ontario Pension Board and wealth advisory firm Glenmede Trust, both of which already have a stake in the firm via venture capital (VC) investments, are among new investors to put $30m (£24.2m) into the startup, which specialises in high-calibre tech and sales jobs for top companies such as Facebook and Uber.
It brings the San Francisco-based startup's series C round to $70m following $40m earlier this year from VCs, including Comcast Ventures, Silicon Valley Bank, Lumia and Great Oaks among them.
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The cash takes the four-year-old startup's total funding past $100m and will go toward scaling the firm globally and growing its data science capabilities. It currently has 17 offices in six countries, including the UK, and launched last week in Australia.
It plans to enter new markets, with a focus on continental Europe and Asia, chief executive Mehul Patel told City PM.
He said the Brexit vote would not diminish the startup's focus on the UK, which he said was a double digit share of the business and "growing fast". However, he warned that there were challenges to hiring since many UK-based tech companies recruit staff from abroad.
"The UK has to invest more in engineering and support people to do that," he said.
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The company matches high-skilled workers in tech and sales with jobs via a combination of online and more traditional human recruitment methods, with just five to eight per cent of 10,000 applicants being matched to jobs.
For users, the site is free and they receive job offers which include figures for salary and benefits packages. Companies pay to reach top talent and Patel said the firm is still on track to reach its goal of turning a profit early next year.
"People hate searching for a job more than getting a root canal," said Patel, indicating that taking the pain out of it is a lucrative business.