San Francisco, California-based Recruitment CRM SmartRecruiters has announced its latest round of funding.
SmartRecruiters offers a customer relationship management solution targeted at recruitment, enabling users to hire across global markets in the search for talent, and prioritise attributes such as diversity and inclusion.
The company’s $110mn Series E was led by Silver Lake Waterman alongside Insight Partners and Mayfield Fund. Adding to prior funding of $105mn, the round valued the company at $1.5bn, crossing the tech unicorn threshold.
“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, Silver Lake Waterman. “Their scale and customer growth are testament to their strong leadership and industry leading platform. We are excited to help fuel SmartRecruiters’ next growth chapter.”
SmartRecruiters said the funding reflected strong growth in the last year, with a 70% increase in bookings and the addition of new messaging and analytics capabilities.
“As the job market becomes more fluid and dynamic, companies need a competitive advantage when it comes to accessing the best talent,” said Jerome Ternynck, CEO and Founder, SmartRecruiters. “Never before has business success been so dependent on hiring success. When you have the right recruiting platform and the right people, you achieve business success.”
The company said the funds would be used to accelerate product development, particularly in the areas of intelligence, automation and conversational interfaces. Also on the agenda was an expansion of its presence in the US, EMEA and APAC regions, with increased support for customers and partners.
“The pandemic has changed how people connect with jobs at scale. Today’s enterprises are experiencing unprecedented competition for talent, historically high turnover rates and a huge spike in hiring costs—not to mention managing the shift to a distributed workforce,” said Ternynck. “We’re committed to helping our customers navigate this new world of work through a combination of high touch, high tech.”
