SmartRecruiters closed a $110 million Series E funding round, bringing its total amount raised to $205 million and increasing the company’s valuation to $1.5 billion.
The round—led by Silver Lake Waterman—came as SmartRecruiters demonstrated increased momentum in the talent acquisition space. Over the last 12 months, the company has added more than 200 enterprise customers, grown revenue by 50% and increased its bookings by 70%. Customers include Visa, Square, McDonald’s, Ubisoft, FireEye, Biogen, Equinox and Public Storage.
“As the job market becomes more fluid and dynamic, companies need a competitive advantage when it comes to accessing the best talent,” said CEO Jerome Ternynck. “Never before has business success been so dependent on hiring success.”
Ternynck describes SmartRecruiters as “the Salesforce of recruiting,” according to TechCrunch, meaning it provides a system of record that enterprise businesses can use to manage their entire recruiting process, from sourcing to hiring. Its hiring success framework has been adopted to improve recruitment processes and outcomes by hundreds of large enterprises and high-growth startups worldwide, the company said. (TechCrunch also noted that Salesforce is an investor in SmartRecruiters.)
SmartRecruiters will use the funds to accelerate product development by adding 200 engineers. It plans to focus its efforts on recruitment process automation, onboarding, conversational intelligence and recruitment marketing. The company will also expand its go-to-market efforts across the U.S., EMEA and APAC, and provide on-the-ground support for its customer community and partner ecosystem.
“Hiring talent and building human capital is more complex and important than ever, and SmartRecruiters is well-positioned to help companies attract and land top talent,” said Shawn O’Neill, managing director and group head at Silver Lake Waterman.
Mark Feffer is executive editor of RecruitingDaily and the HCM Technology Report. He’s written for TechTarget, HR Magazine, SHRM, Dice Insights, TLNT.com and TalentCulture, as well as Dow Jones, Bloomberg and Staffing Industry Analysts. He likes schnauzers, sailing and Kentucky-distilled beverages.
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