Recruitment technology provider Jobvite has garnered a second round of financing, giving it $8.25 million to use for product development and to meet customer growth.
The company announced the Series B funding tonight. The round was led by ATA Ventures, whose co-founder and managing director, Hatch Graham, will join Jobvite’s board of directors. In December 2007 Jobvite received $7.2 million in Series A funding from a group led by CMEA Capital.
Jobvite says it grew its client count by 300 percent in the last year and now counts Accuweather, Mozilla, TiVo, Yelp, and Zappos among its customers.
One reason for Jobvite’s success is its versatility. Not only has the company built a nicely featured ATS, but it took care in the development to include the kind of networking capabilities that recruiters want. The recruiting platform allows for internal collaboration, encouraging employees to make referrals and, to the extent company culture and hiring managers allow, they can participate in the hiring process.
Making this a more active exercise is Jobvite’s behind-the-scenes job matching capability. Employees can choose to connect Jobvite to their Facebook friends, LinkedIn connections, and Twitter followers. Jobvite analyzes the profiles of those connections and suggests good matches with company openingx to the employee, who can choose to send a “jobvite” invitation to their friend, follower, or 1st degree connection.
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Jobvite is an on-demand system with a yearly subscription fee priced for the SMB market and designed to be less demanding of recruiter time.
“This recession is fundamentally changing recruitment, pushing companies to become more cost-effective, innovative, and strategic. Companies are looking to the technology industry to make this possible,” says Dan Finnigan, president and CEO. “Our growth this year proves we’re serving a big need and delivering immediate ROI to our customers. With this new investment, the strong additions made to our team this year, and the on-going advancements in our technology, I’m looking forward to what Jobvite will do for our customers.”