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Venture Capital News: Montage Secures $3M

          
DELAFIELD, WI, Provider of video interviewing solutions, announced it has closed a $3M financing round led by Baird Venture Partners (BVP). Montage's existing investors, GCI and Calumet Venture Fund, also participated in the financing.
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Montage Talent, a provider of video interviewing solutions, announced today it has closed a $3 million financing round led by Baird Venture Partners (BVP), the U.S. venture capital fund of Baird Private Equity. Montage's existing investors, GCI and Calumet Venture Fund, also participated in the financing. The proceeds will be used to expand the company's client engagement activities, fund continued technology development, and support general working capital.

Montage is a pioneer in the development of video technology that optimizes and simplifies the hiring process for both the employer and the candidate. Montage's platform generates deeper layers of information about candidate fit for the position and job environment, which are easily shared by a globally dispersed hiring team. The results are faster hiring decisions, the elimination of travel requirements and improved overall quality of hire. Candidates also benefit from a more efficient recruiting experience and richer insight into prospective employers. Leading employers, recruiting and staffing providers, and colleges and universities utilize Montage's solutions, including Johnson Controls, Manpower, Pinstripe, Rockwell Automation and University of Wisconsin-Whitewater, among others.

"Recruiters have never been under more pressure to quickly and cost-efficiently find the best candidate for the position," said Kurt Heikkinen, Montage CEO. "Montage's video interviewing solutions enable businesses to garner a richer, faster understanding of a candidate's qualifications and fit earlier in the interview process. As a result, hiring decisions are made quicker and for much less cost. Plus, our innovative, client-branded approach is a strong differentiator for businesses. We're thrilled to partner with BVP and look forward to leveraging their long history of investing in and helping build successful human capital services companies."

"We are extremely excited to work with Kurt and the Montage team to help support the company's next phase of growth," said BVP Partner Jim Pavlik. "We believe that Montage is well positioned to capitalize on the growing demand for video interviewing solutions and deliver substantial efficiencies and value to its clients' talent acquisition efforts."

As part of the financing, Pavlik will join Montage's Board of Directors.
Baird Private Equity has a long history of investment experience in the human capital services sector, having invested in 13 U.S. and European human capital companies. Current venture investments in the sector include Pinstripe, a recruitment process outsourcer; Snagajob, the largest online community of hourly workers; Sittercity, America's largest and most trusted website connecting families with child care, pet care, eldercare, home care and tutoring solutions; and StartWire, a web-based job search company that provides job seekers with automatic application status updates from thousands of employers. Baird Venture Partners also previously invested in Hireright, the leading provider of technology-based background screening and pre-employment services, which completed an IPO in 2007 and was subsequently acquired by USIS in 2008.

About Baird Venture Partners
Baird Venture Partners, the U.S.-based venture capital fund of Baird Private Equity, makes venture capital investments in early and expansion stage business services and life sciences companies. Baird Venture Partners leverages its in-depth sector knowledge, experienced investment team and network of relationships to serve as a value-added partner for its portfolio companies. Baird Private Equity, the global private equity group of Robert W. Baird & Co. (Baird), makes venture capital, growth equity and buyout investments in smaller, high potential companies in the United States through Baird Venture Partners and Baird Capital Partners, in China through Baird Capital Partners Asia, and in Europe through Baird Capital Partners Europe. Baird Private Equity has a global team of investment and operations professionals across the United States, Europe and Asia, including a team of operating professionals in Asia. Baird Private Equity and its affiliates have raised and managed over $2.8 billion in capital and invested in more than 250 companies since the 1980s.
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