Jobvite has secured $8.25 million in series B funding.Recruiting and applicant-tracking SaaS startup
The round was led by ATA Ventures, a new investor. CMEA Capital, who led Jobvite's Series A financing, also participated in this round. Jobvite also appointed Hatch Graham, ATA's managing director, to its board of directors. Jobvite secured $7.2 million in Series A funding in 2007 from CMEA, bringing its total funding to date to $15.45 million.
Jobvite's platform allows recruiters at companies such as Yelp, Digg, Mozilla, Zappos, and TiVo to target potential new hires through their existing social networks. The company also states that their customer base has tripled over the past 12 months.
"We've liked the way Jobvite has brought the benefits of SaaS and social networking together to solve real problems for its customers," said Jim Watson, managing general partner at CMEA Capital. "The management team has proven it has the ability to both innovate and execute. That's why we're increasing our investment."
"I'm impressed by Jobvite's vision for the future of the rapidly transforming, multi-billion dollar recruiting sector," said Graham. "Now is the perfect time for expansion."
Jobvite will use this round of funding to accelerate product development and meet growing customer demand.