The company said it would use the funds for expansion into more markets and further invest in its products
Recruiting Software and Talent Acquisition CRM Gem has announced its latest round of funding.
The company’s offering is based around proactively seeking out and hiring talent via integrations with LinkedIn and other solutions. It features talent pools that synchronise with applicant tracking systems, personalised messages for passive candidates, and analytics across the recruiting process. Gem says its ambition is to be a single source of truth for talent relationships, with its customer base including the likes of Peloton, Shopify, Cisco Meraki, Hinge Health, MongoDB, and Twilio.
The company’s latest $100 million Series C round was led by ICONIQ, alongside existing investors Greylock and Accel and new investors Sapphire Ventures and Meritech Capital. The latest round brings total funds raised to $148mn, and valued the company at $1.2bn.
“We love nothing more than to see our customers have success. As of September 2021, Gem counts over 100 ‘unicorns’’ as customers, defined as private businesses valued at $1B or higher. These include companies like Gusto, Sift, and Cockroach Labs,” said Steve Bartel, Gem CEO and Co-Founder in a blog post.
“For many, unicorn status is a step on the path to even greater heights. In the last year, half of the ten-biggest IPOs in the U.S. are by Gem customers, including Robinhood and Affirm.”
The company said it would use the funds for expansion into more markets and further invest in its products, with a focus on:
“We have had our eye on Gem for a long time because the product has helped so many of our business partners hire the people that fuel their growth,” said ICONIQ Growth General Partner Matt Jacobson. “We have heard time and time again that Gem is irreplaceable because of the way it combines talent sourcing, nurture, CRM, and analytics into a complete and modern recruiting suite.