Jobcase Secures $100 Million in Funding

March 1, 2019 – 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 (PSG). This brings the Boston start-up’s total raised to $118.9 million, according to Crunchbase. PSG is an affiliate of Providence Equity Partners, a global private equity and credit investment firm with $57 billion in capital under management.

The new funding will accelerate product development and services for Jobcasers (Jobcase members) via internal growth and/or strategic acquisitions. Some enhancements include, but are not limited to, sophisticated machine learning architecture that will better serve relevant content to Jobcasers, product development to increase ease of connections and community building and new integrations and APIs that enable Jobcasers to more easily promote themselves and better engage with employment opportunities.

“We are thrilled to have PSG as a partner that understands people need not navigate the future of work alone,” said Fred Goff, founder and CEO of Jobcase. “At its core, Jobcase is a platform where people help people. Often, the future of work can be intimidating to individuals.”

“Jobcasers stand stronger together,” he said. “If you care about other people, drive your own work-life success, and believe that workers should be treated as well as stockholders or customers, then you are a Jobcaser too.”

“We are proud to help expedite Jobcase’s mission to empower people in their pursuit of a happy and meaningful work-life,” said Mark Hastings, CEO of PSG. “Jobcase’s unique approach that prioritizes community has catapulted the company to its position as an industry leader. The company is well positioned to fulfill the pressing need for connection in this space both domestically and abroad.”

Recently ranked as the fourth largest online destination for career resources in the U.S., Jobcase serves more than 100 million registered members with over 25 million unique active Jobcasers visiting the site each month. In addition to direct services offered on Jobcase.com, Jobcase technology powers over 100 career-related sites. Jobcase is a Kendall Square-grown company that has doubled in the last year to nearly 200 employees – all single-mindedly dedicated to the mission of empowering workers.

Investment Funding

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:

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…

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.

Reflektive, an HR analytics and employee engagement platform, has raised $60 million in Series C funding. The company said it will use the cash infusion to invest in research and development to help grow its cloud-based platform of people management solutions. It also plans to double its engineering team and expand strategies worldwide.

ENGAGE Talent, an AI software company that helps companies identify and effectively engage with passive candidates, has raised $3 million in new funding. Participating investors included Revolution’s Rise of the Rest Seed Fund, Refinery Ventures and Grand Ventures. 

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

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