Total amount raised
$132.7 Millions
Latest funding date
06/01/2018
Location
Hired has successfully raised significant funding over multiple rounds, with its last known funding type being Series D. The platform, now integrated into LHH Recruitment Solutions, offers a comprehensive suite of services including professional recruitment, career mobility, and leadership development.
Keep reading to explore the intricacies of Hired's fundraising journey and the investors backing this innovative platform.
What Is Hired?
Hired, founded on May 1, 2012, is a career marketplace that connects tech talent with innovative companies. Based in San Francisco, California, the company was established by Allan Grant, Douglas Feirstein, and Matt Mickiewicz.
Operating within the human resources, internet, marketplace, and recruiting industries, Hired has grown to employ between 101-250 people. The platform offers a curated pool of candidates and transparency into competing offers, streamlining the recruitment process for employers.
How Much Funding Has Hired Raised?
- Seed Round
- Amount Raised: $2.7M
- Date: January 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial technology.
- Series A
- Amount Raised: $15M
- Date: March 2014
- Lead Investors: Crosslink Capital, Sierra Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform's capabilities.
- Series B
- Amount Raised: $15M
- Date: December 2014
- Lead Investors: Sierra Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's features and increase market reach.
- Series C
- Amount Raised: $40M
- Date: February 2016
- Lead Investors: Lumia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop data science algorithms and improve matching efficiency.
- Series C
- Amount Raised: $30M
- Date: November 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and enhance the platform's user experience.
- Series D
- Amount Raised: $30M
- Date: June 2018
- Lead Investors: Investment Management Corporation of Ontario
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To transition to a subscription-based model and ensure a steady revenue stream.
Hired has raised a total of $132.7M. The current valuation is Not publicly disclosed.
Key Investors
- Investment Management Corporation of Ontario (IMCO)
- Details: IMCO is a Canadian investment management firm that manages public sector funds. It led the $30 million Series D funding round for Hired.
- Investment Focus Areas: Public equities, fixed income, real estate, private equity.
- Notable Investments: Not specified.
- Ontario Pension Board
- Details: The Ontario Pension Board manages the Ontario Public Service Pension Plan, providing retirement benefits to public sector employees in Ontario. It is listed as a major investor in Hired.
- Investment Focus Areas: Public equities, real estate, infrastructure.
- Notable Investments: Not specified.
- Crosslink Capital
- Details: Crosslink Capital is a venture capital firm that invests in early-stage and growth-stage companies. It was a lead investor in Hired's Series A funding round.
- Investment Focus Areas: Technology, consumer, financial services.
- Notable Investments: Pandora, Ancestry.com, Coupa Software.
- Sierra Ventures
- Details: Sierra Ventures is a venture capital firm focused on early-stage technology companies. It led Hired's Series A and Series B funding rounds.
- Investment Focus Areas: Enterprise software, cloud computing, mobile.
- Notable Investments: Intuit, MakeMyTrip, Sourcefire.
- Lumia Capital
- Details: Lumia Capital is a venture capital firm that invests in technology companies with a focus on emerging markets. It led Hired's Series C funding round.
- Investment Focus Areas: Technology, emerging markets, growth-stage companies.
- Notable Investments: OpenDNS, Greenhouse, Careem.
What's Next for Hired?
Hired is poised to capitalize on the growing trend of data-driven recruitment. By leveraging data science and a subscription-based model, the company aims to provide a steady stream of candidates to employers, significantly reducing hiring times. This approach not only streamlines the recruitment process but also ensures a recurring revenue stream, making it a robust business model in the face of economic fluctuations.
With the recruiting industry being massive, Hired's 300% year-over-year growth in bookings indicates substantial market potential. Future fundraising opportunities seem promising, especially given the success of their recent $30 million round. However, challenges such as competition from established players like Indeed and GlassDoor, and convincing companies to adopt a subscription model, remain. Navigating these hurdles will be crucial for Hired's continued success.
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