Total amount raised
$79.2 Millions
Latest funding date
06/01/2022
Location
RippleMatch has successfully raised significant funding through multiple rounds, with its latest being a Series B round closed on June 8, 2022. The platform is designed to revolutionize the job search process for Gen Z job seekers by leveraging AI to match candidates with internships and entry-level positions that align with their skills and interests.
With backing from prominent investors such as Work-Bench and Goldman Sachs Asset Management, RippleMatch is well-positioned to continue its growth and innovation in the recruitment industry. Keep reading to explore the intricacies of RippleMatch's fundraising journey and the investors supporting this transformative platform.
What Is RippleMatch?
RippleMatch, founded in June 2016 by Andrew Myers, Eric Ho, and Troy LeCaire, is a recruitment automation platform headquartered in New York, New York. The company operates in industries such as consulting, employment, enterprise software, human resources, and recruiting.
With an employee count ranging from 101 to 250, RippleMatch leverages AI to match Gen Z job seekers with internships and entry-level positions. The platform aims to replace traditional job boards by streamlining the recruitment process for both employers and job seekers.
How Much Funding Has RippleMatch Raised?
- Angel Round
- Amount Raised: $1.7M
- Date: May 2017
- Lead Investors: Kevin Ryan
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of the platform and build initial traction.
- Seed Round
- Amount Raised: $3M
- Date: May 2018
- Lead Investors: Accomplice, Bullpen Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's AI capabilities.
- Series A
- Amount Raised: $6M
- Date: September 2019
- Lead Investors: G20 Ventures, Work-Bench
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and increase user acquisition.
- Series A
- Amount Raised: $23.5M
- Date: April 2021
- Lead Investors: Invus Opportunities
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand market reach.
- Series B
- Amount Raised: $45M
- Date: June 2022
- Lead Investors: Goldman Sachs Asset Management
- Valuation at Round: $205M
- Motivation Behind the Round: To hire more engineers, enhance job-matching technology, and scale the platform.
Total Amount Raised: $79.2M. Current Valuation: $205M.
Key Investors
- Goldman Sachs Asset Management
- Details: Goldman Sachs Asset Management provides investment and advisory services globally, managing over $2 trillion in assets. The Growth Equity business within Goldman Sachs Asset Management has invested over $13 billion in companies led by visionary founders and CEOs since 2003.
- Investment Focus Areas: Technology, healthcare, financial services, consumer goods.
- Notable Investments: Uber, Spotify, Airbnb.
- G20 Ventures
- Details: G20 Ventures is a venture capital firm that focuses on early-stage technology companies. They are known for investing in startups that have the potential to disrupt existing markets and create new ones.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Cybereason, Catalant.
- Work-Bench
- Details: Work-Bench is a venture capital firm that invests in early-stage enterprise technology startups. They focus on companies that are building the next generation of enterprise software.
- Investment Focus Areas: Enterprise technology startups.
- Notable Investments: Cockroach Labs, Socure.
- Invus Opportunities
- Details: Invus Opportunities is a global investment firm that partners with management teams to build industry-leading companies. They focus on long-term investments and provide strategic support to their portfolio companies.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Blue Apron, Lexicon Pharmaceuticals, WW International.
- Accomplice
- Details: Accomplice is a venture capital firm that invests in early-stage technology companies. They have a strong focus on supporting entrepreneurs and helping them scale their businesses.
- Investment Focus Areas: Technology, cybersecurity, digital media.
- Notable Investments: AngelList, Carbon Black, DraftKings.
What's Next for RippleMatch?
RippleMatch stands at the cusp of significant growth opportunities. With plans to double its staff and enhance its job-matching technology, the company aims to triple the number of candidates finding jobs through its platform. This expansion is bolstered by a $45 million Series B funding round, positioning RippleMatch to further solidify its presence in the recruitment industry.
Future fundraising opportunities seem promising as the company continues to scale and innovate. The focus on AI-driven recruitment and a growing user base of over 2 million users highlight the potential for additional investment rounds. However, RippleMatch faces challenges such as competing with established job boards and maintaining rapid growth while ensuring high levels of customer satisfaction.
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