Funds to Fuel Customer Acquisition, Introduce New Products for Small and Mid-Size Businesses
PITTSBURGH, Aug. 19, 2014 /PRNewswire/ -- The Resumator, the leading recruiting software for startups, small businesses and growing enterprises, has secured $15 million in growth financing led by Boston-based growth equity firm Volition Capital, the company announced today. The company, which supports over 2200 customers in 63 countries across technology, media, and entertainment industries, will use the funds to deepen its penetration into key markets, expand its data and engineering teams, and establish new products and partnerships.
The investment brings the company, co-headquartered in Pittsburgh and San Francisco, to $18 million in outside funds raised to date. Existing investors Rincon Venture Partners and Birchmere Ventures participated in the round, joined by new investment from Blue Cloud Ventures, Riverfront Ventures and lead investor, Volition Capital.
"It is estimated that over 60 percent of small businesses and small enterprises rely on email or spreadsheets, which not only drive up recruiting costs by more than 20 percent, but reduce a company's ability to attract performers at a critical stage of growth where the right talent can make all the difference," said Don Charlton, founder and CEO of The Resumator. "Recruiting is no longer about fighting the 'workflow war' or finding inventive ways to streamline hiring– it's about helping teams quickly identify and hire great talent consistently and predictably."
Founded in 2009, The Resumator's growth and success has been fueled by a platform designed to not only simplify the recruiting lifecycle, but stimulate once passive recruiting strategies, mobile talent pipeline management and data to guide the process. With its most recent capital infusion, The Resumator will help leverage tens of millions of data points and a team of talent scientists to rethink the recruiting lifecycle so that a candidate hired using The Resumator will perform better and be a better fit for the team in which they joined.
"We are drawn to companies that can not only break patterns in their markets, but also establish themselves as high-growth, category leaders," said Sean Cantwell, Partner, Volition Capital. "The team and its impressive traction and growth strategy are ones we are excited to support."