Venture Capital News: Hireology Raises $12M
CHICAGO, IL, Hireology, the leading provider of employee selection management technology, announced today that it has closed $12M in Series C financing led by Baird Capital.
Existing investors Bain Capital Ventures and Lightbank also participated in this round.
'We are extremely excited to partner with Hireology and its existing investors to help drive the company's continued growth and leadership in the recruitment technology market,' said Jim Pavlik, a Partner with Baird Capital and a new member of Hireology's Board of Directors.'Baird Capital has substantial experience investing in the human capital management sector and was attracted to Hireology's innovative approach to serving the needs of multi-location organizations in targeted verticals.'
Hireology's Intelligent Hiring Framework is used by over 3,000 companies to transform inconsistent and disjointed hiring efforts into a process-driven science. This framework helps companies of all sizes - from single-location stores to large corporate groups - find better candidates, save administrative time and dramatically reduce employee turnover.
'Hireology is focused on helping business owners succeed, and we do that by transforming talent into a source of strategic competitive advantage,' said Adam Robinson, Hireology co-founder and CEO. 'Every day, we wake up focused on helping thousands of companies source, select and hire their best possible teams. I'm honored that these companies choose our solution to help them win in their market.'
One such company is Colorado-based Schomp Automotive Group. 'Dollar for dollar, Hireology is one of the best software investments you can make to support your dealership,' said Michael Dunlap, Director of Business Development at Schomp Automotive Group. 'Hireology keeps us organized and maximizes our limited HR staff. We're much more productive and have more collaboration between candidates and our stakeholders thanks to the time we save with the Hireology platform.'
'Since launching in 2011, we've seen incredible growth as organizations large and small joined our platform to turn hiring into a process anyone can follow. The new funding will help us further develop our product roadmap and bring new brands into the ever-expanding roster of Hireology customers,' Robinson added.
Hireology has enjoyed breakthrough growth with YTD revenue up 160 percent and by surpassing 1.5 million applicants processed through the platform that has over 10,000 active users. This Spring also saw the release of Career Site Plus, a new product for companies looking to create a strong online employment brand and attract digitally-savvy applicants.
Based in Chicago, Hireology was founded on a simple but powerful concept: by analyzing the behaviors of top-performing employees, organizations can create highly accurate systems for identifying the best candidate for the job. Hireology helps business owners build successful companies by assembling better teams. Hireology's Intelligent Hiring Framework and industry expertise help businesses streamline and improve their hiring process, resulting in smarter hiring and stronger company performance. Over 3,000 businesses trust Hireology to make better hiring decisions, lower turnover, and increase productivity and profitability. For more information, visit www.hireology.com or follow the brand on Twitter at @Hireology.
About Baird Capital
Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Baird Capital's venture capital team invests in early and growth stage companies in the Healthcare and Technology & Services sectors. Having invested in more than 290 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital is the direct private investment arm of Robert W. Baird & Co. For more information, please visit www.BairdCapital.com.
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