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Startwire Starts Up With $3.25M

Round in web-based job search company led by Baird Venture Partners, the U.S. venture capital fund of Baird Private Equity.
LEBANON, NH, Startwire, a web-based job search company, announced today it has closed a $3.25M Series A financing round led by Baird Venture Partners, the U.S. venture capital fund of Baird Private Equity.

Startwire aims to close the "resume black hole" by providing job seekers with automatic application status updates from thousands of employers. The company is led by Chris Forman, a seasoned executive and recognized expert in recruiting technology and trends. Forman was previously CEO of AIRS, a human capital solutions company where he led a successful cash exit. His past experience also includes serving as Chief Development Officer for RightThing.

"The 'résumé black hole' is a real source of pain for job seekers today, and providing automatic status updates is an innovative solution that no other job search web site offers," said Forman. "BVP is a tremendous partner for us, given their many successful investments in this space. They are intimately familiar with the landscape and their expertise will be instrumental to our continued growth."

"We are thrilled to be partnering with Chris and his team to help Startwire capitalize on its early success," said Benedict Rocchio, BVP Partner. "We seek to partner with entrepreneurs that are addressing significant unmet needs and are poised for growth, and Startwire stands out in the human capital sector by addressing a real problem facing job seekers."

Baird Private Equity has a long history of experience in the human capital services sector, having invested in many U.S. and European companies in the space since inception. Current venture investments in the sector include Pinstripe, a Milwaukee-based recruitment process outsourcer; Snagajob, the largest online community of hourly workers; and Sittercity, America's largest and most trusted website connecting families with child care, pet care, eldercare, home care and tutoring solutions. Baird Venture Partners also previously invested in Hireright, Inc., 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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