Hireology Raises $27 Million in Funding
April 25, 2019 – Hireology, a Chicago-based recruitment management platform for the automotive and healthcare sectors, has closed $27 million in series D financing led by Blue Cloud Ventures, with full participation from current investors Bain Capital Ventures and Baird Venture Partners, as well as Silicon Valley Bank.
The funds will be used to accelerate the company’s growth in new market verticals and to create features that further differentiate its product offering. This latest round of investment brings Hireology’s total capital raise to $60.5 million.
“Hireology’s product and razor-sharp focus on its customers’ success in attracting, recruiting and onboarding talent has positioned the company as the go-to recruitment management platform for the automotive and healthcare sectors,” said Mir Arif, managing partner of Blue Cloud Ventures. “We are excited to partner with Adam and the Hireology team on the next phase of their growth.”
“Blue Cloud Ventures brings the right approach and perspective to our business at an important juncture in our growth,” said Adam Robinson, co-founder and CEO of Hireology. “I could not be more excited to work with Mir and his team to take this business to a new level.”
Hireology’s integrated hiring and talent management platform is designed for multi-location, owner-operated and independently owned businesses to build their teams. The company equips teams with the skills and technology to manage the full employee lifecycle – from hire to retire – in one seamless platform. With focused expertise across several industries – including automotive, fitness and wellness, education, healthcare and professional services – more than 5,000 businesses today use Hireology.
Investors are pouring money into recruiting solutions businesses, especially those with an AI component. Here’s a look at some recent funding deals secured by these companies from the Hunt Scanlon Media archives:
Tel Aviv-based HR tech platform Hibob has secured $20 million in funding from existing investors Bessemer Venture Partners, Battery Ventures, Eight Roads, Arbor Ventures and Presidio Ventures. Supporting the company’s mission to transform HR to reflect the changing nature of the workplace and workforce, the expanded investments will drive the next phase of Hibob’s growth…
Jobcase, a self-described open access platform for job seekers and employers, has secured $100 million in a growth equity round led by Providence Strategic Growth. This brings the Boston start-up’s total funds raised to $118.9 million. The new funding will accelerate product development and services for Jobcasers (Jobcase members) via internal growth and/or strategic acquisitions.
San Francisco-headquartered human cloud platform Jyve secured $35 million in funding led by SignalFire and joined by Crosscut Ventures and Ridge Ventures. Jyve’s platform, which it calls “Skills-as-a-Service,” uses machine learning to source and identify certified, skilled talent. Jyve’s focus is on providing companies with flexible labor.
CareerArc, a global leader in HR technology, raised a $30 million growth equity round led by PeakEquity Partners. This investment and the support of the team at PeakEquity Partners should allow us to accelerate our growth, expand product offerings and strengthen our market position,” said Robin Richards, co-founder and CEO of CareerArc.
France-based Talentsoft, a cloud-based human resource software solutions provider for talent management learning, has raised $50 million in a financing round which it says will boost continued growth via innovation and international market expansion. Talentsoft is focused on optimizing the employee experience while taking into account the cultural, linguistic and regulatory specificities of HR management in Europe.
pymetrics, an enterprise SaaS company that uses neuroscience and AI to make the recruitment process more effective, has closed a $40 million Series B funding round. pymetrics utilizes neuroscience and AI to assess job applicants across a range of cognitive, social and emotional traits and algorithmically recommend the best-suited candidates to companies.
Scout Exchange, a recruitment marketplace connecting employers with specialized recruiters, has received $100 million in funding from TRI Ventures. The funding will accelerate growth of Scout’s recruitment marketplace, which has been adopted by hundreds of employers including 50 Fortune 500 companies and thousands of specialty recruiters.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Andrew W. Mitchell, Managing Editor – Hunt Scanlon Media