Today, we’re extremely excited to announce $10 million in Series B funding led by Rembrandt Venture Partners and followed by the Mayfield Fund, our Series A investor.
Since our founding in September 2010, we have grown to 50,000 customers who have created 250,000 jobs and attracted over 10,000,000 candidates. We were not looking to raise funds at this time, but a great partner approached us, and we decided to take the offer and step on the gas pedal.
The labor market has become so complex it’s not functional anymore. If you’re an average business, you’re looking at 100 days and $3,500 to make a hire. And you have a 30% chance of making a mistake. Not an appealing proposition… But, I think we can fix that. We live in a connected world in which hiring should be easy. There should not be such thing as a hard to fill job. It’s just a matter of distribution and management.
I believe the days of Applicant Tracking are numbered. Recruiting is not about tracking. It’s about attracting and engaging top talent. The traditional ATS platforms have become legacy systems that serve little purpose and need to go away. Instead, we’re building the new generation of recruiting technology; one that brings recruiting back to its roots as social activity and makes the labor market more effective, allowing more companies to create more jobs faster.
If you haven’t done so yet, give us a try. You can sign up here (don’t worry it’s free) or register for a demo (Charlie will give you a tour).
A large unsolicited Series B is a good validation point for a startup. We could not have reached this point without the support of our customers. The 50,000 businesses of all sizes and all industries who leverage SmartRecruiters to create jobs. I sent you an email this morning as I want to thank you all personally. Your commitment to SmartRecruiters, your feedback, your support, your questions, your ideas… everything you give us is priceless as we thrive to build the best recruiting solution ever.
Last but first, the SmartRecruiters team. There is no better testament to our hiring platform than the awesome team I recruited to build it: John, Michal, Lexie, Rafal, Nik, Olga, Pawel(s), Joey, Natalia, Witek, Danny, Arek, Eliza, Jarek(s), Daniel, Kynga, Eryk, Ankur, Seb, Dominik, Grzegorz, Susan, Lukasz, Tomek, Charlie, Mateusz, Ben, Kasia, Keegan, Carter, Jason, Wiktor, David. Thank you. You guys rock! I feel privileged to work with each one of you.
As for me, I just want to create more jobs. Can 10 million dollars create 10 million jobs? Can we eradicate unemployment by removing friction on the labor market? Honestly, I don’t know. But I do know we will all be working really hard to get there. One job at a time.
Read more:
SmartRecruiters Secures $10 Million in Series B Funding
“An ATS with “Emotional Engagement” Gets $10 Million” by ERE’s John Zappe
“SmartRecruiters raises $10 million to win ‘uphill battle’ of recruiting” by VentureBeat’s Rebecca Grant
“As Employers Fight ‘Talent Wars,’ VCs Fund HR Startups” by the Wall Street Journal’s Lora Kolodny
Additionally: PandoDaily, AIMGroup, San Francisco Business Times, SourceCon
