Hiring platform and application tracking system Fountain has announced its latest Series C round of funding.
The company specialises in “high volume hiring”, defined as a position that receives over 1,000 applications or a need to fill 1,000 positions in a short space of time. Its platform utilises automation to quicken the candidate experience, as well as analytics to help managers make data-led decisions.
According to research from human capital management research firm Aptitude, more than 6 in 10 companies have such recruitment needs, with Fountain’s customers including the likes of Chipotle, John Lewis & Partners and Just Eat – as well as companies in areas such as customer service, data entry and healthcare.
The company’s latest $85mn Series C round was led by SoftBank Vision Fund 2, alongside B Capital Group and Mirae Asset Venture Investment, as well as existing investors DCM, Origin Ventures, Commerce Ventures, SemperVirens Venture Capital and Uncork Capital. The round brings total funds raised to $119mn.
“With labour acquisition being one of the top challenges companies face today, Fountain provides an all-in-one hiring platform to help enterprises streamline their hiring for high volume, hourly workers,” said Andrew Zloto, Director at SoftBank Investment Advisers.
“We are delighted to partner with Sean and the Fountain team to support their mission of helping companies find and hire the right people quickly to meet today’s labour needs.”
The company said it would use the funds to further innovate its platform and grow its sales and engineering teams and operations in EMEA and APAC.
“Many companies are struggling to hire hourly workers, which number around 82 million and represent more than half of all wage and salary workers in the US alone,” said Sean Behr, CEO of Fountain.
“Fountain’s solutions have enabled businesses to make more than two million hires so far in 2021 by simplifying, optimising and automating as much of the candidate journey as possible to decrease time-to-hire.”
