SUNNYVALE, CA, Simply Hired today announced that it has secured $12 million in a combination of equity and debt financing.
Simply Hired today announced that it has secured $12 million in a combination of equity and debt financing from existing investors Foundation Capital and IDG Ventures as well as City National Bank. The financing will be used to fund ongoing innovation in job search and job seeker user experience and accelerate sales growth in the U.S. Simply Hired, operating in 24 countries and in 12 languages, is a leader in job search, with an index including 6 million unique job listings across 228,000 unique employers worldwide'and growing. Over 30 million unique job seekers access the Simply Hired service each month through the web, email and mobile devices.
'Job seekers expect ' and deserve ' the same kind of comprehensiveness, timeliness and relevance from a job search engine that they experience with general Web search engines,' said James Beriker, President and CEO of Simply Hired. 'Over the past 9 years, Simply Hired has developed vertical search technology that leads the industry. This is no easy feat, as job openings appear all over the Web, there is no standard for how jobs are described by employers, and the content is highly dynamic. With this financing, we will continue to focus on innovating on our core search platform and evolving our capabilities to more effectively and efficiently match job seekers and employers at scale.'
'Simply Hired has been able to solve complex search challenges in the jobs vertical and continuously improve a search engine that is used by millions of people around the world,' said Phil Sanderson, Managing Director at IDG Ventures. 'This is not a trivial undertaking. It takes years of commitment and significant R&D investment'and a team of product leaders, engineers and data scientists that understand both search and the jobs domain. We are excited about increasing our investment in Simply Hired and look forward to working with them through their next phase of growth.'
Simply Hired provides more than 30 million monthly job seekers with access to a comprehensive index of job listings in every occupation across 228,000 unique employers in the 24 markets in which it operates. The resulting data from job seekers and employers, and the way in which job seekers engage with listings on the search engine, is used to continuously optimize the experience for both job seekers and employers. The company was named one of Forbes Magazine's 10 Best Websites For Your Career for the second year running, and called out by PC Magazine as one of the Best Job Search Websites.
The online recruitment industry is currently in transformation, driven by job seekers who begin their job search on search engines instead of traditional job boards. In addition, employers are adopting tracking, performance optimization and other technologies widely used by online marketers to measure and optimize their candidate sourcing spend and other campaign performance metrics. A December 2013 study conducted by Forrester Consulting on behalf of Simply Hired concludes that Simply Hired's performance-based recruitment advertising platform outperforms alternatives to deliver new hires at a significantly lower cost-per-hire (see Total Economic Impact of Simply Hired here.)
'This transformation to job search and performance-based advertising models is in early stages and will transform recruiting in the same way that search and search engine marketing transformed online advertising,' said Paul Holland, General Partner at Foundation Capital. 'Job seekers and employers are looking for services that are efficient, relevant and high impact. Simply Hired has established itself as the leader in job search technology for both job seekers and employers, and is perfectly positioned to leverage this advantage into market scale and leadership.'
About Simply Hired
Simply Hired, a technology company based in Sunnyvale, California, operates job search engines in 24 countries and 12 languages. With more than 30 million unique visitors per month, the company provides job seekers access to millions of job openings across all job categories and industries, reaching job seekers on the web, mobile devices, email, and via thousands of partner sites including The Washington Post, Fox Business, Bloomberg Businessweek, Computerworld, International Nurses Association, and Hero2Hired. Simply Hired enables employers to efficiently and cost-effectively reach candidates searching for jobs through its full-service pay-per-click (PPC) and self-service pay-per-post job advertising solutions. Simply Hired was founded in 2005 and is privately held with funding from Foundation Capital and IDG Ventures. For more information, visit www.simplyhired.com
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