Jobvite builds cloud-based recruitment and applicant tracking software and is positioning itself as an end-to-end talent acquisition platform. The company is integrating machine learning and conversational tools to automate parts of sourcing and screening. It acquired Talemetry (recruitment marketing), RolePoint (employee referrals and internal mobility), and Canvas (a text-based conversational screening bot) to broaden its product set. Management and investors say the capital will accelerate a platform strategy that consolidates fragmented recruitment workflows. The combined business will serve more than 2,000 customers, including Schneider Electric, Lenovo, Santander, PayPal, Genuine Parts and Panasonic. Jobvite’s valuation for this round was not disclosed; PitchBook’s last (very old) valuation from 2014 was around $150 million. Jobvite provides a recruitment-as-marketing platform that distributes job openings across job boards and social networks and measures how those postings perform. The company emphasizes proactive recruitment tools and the ability to build marketing-style databases of prospects who are not yet applicants. Jobvite reports more than 35 million site visitors in the last year and has processed over 30 million job applications since opening for business in 2003. It counts more than 1,600 paying customers, including Starbucks, Twitter, Farmers Insurance and nine of the last 11 top tech IPOs. Management says revenue per customer under its SaaS model is significantly higher than customer acquisition costs and that churn is very low, though the company is not disclosing overall revenues or profitability. Jobvite plans to use new capital to double down on its singular focus on recruitment rather than diversify into other HR areas. Jobvite develops web-based social recruiting applications and an applicant tracking platform sold on a subscription basis. Its software enables companies to leverage dozens of social networks and other digital platforms to drive referral hires and is designed for use by all employees, not only recruiters or hiring managers. Jobvite provides real-time analytics so managers can track the status of searches, identify areas for improvement, and optimize recruiting spend. The company says its customers hire 10% of referral applicants versus 1% of general applicants, citing TiVo (referral hires rose from 23% to 39% over three years) and Shutterfly (hires referral candidates at 12× the rate of other sources). Jobvite serves over 500 companies, its customer base has grown 600% in two years, and customers include Zappos, Yelp, Groupon, Twitter, WholeFoods and Starbucks. Financially, Jobvite raised $15 million in a Series C and has now raised over $30 million in total capital. Jobvite is a San Francisco-based provider of innovative recruitment solutions for employers. The company focuses on delivering recruitment technology and services to meet hiring needs. It plans to use new funding to accelerate product innovation and meet growing customer demand. Jobvite completed an $8.25M Series B led by ATA Ventures, following a $7.2M Series A in 2007 from CMEA Capital. The financing brings Jobvite’s total funding to date to $15.45M. CEO Dan Finnigan said the company’s growth demonstrates market need and cited team additions and ongoing technology advancements.

Total raised

$248M

Funding rounds

4

Latest round

Equity

Latest activity

Feb 2019