Series E funding round to accelerate product innovation and expansion of growing customer base
SAN FRANCISCO – JULY 20, 2021 – SmartRecruiters, the Hiring Success company, today announced it closed a $110 million Series E round led by Silver Lake Waterman with participation from existing investors Insight Partners and Mayfield Fund. The new capital brings the company’s total amount raised to $205 million, with a valuation of $1.5B to deliver Hiring Success to global enterprises around the world.
“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.”
This financing round comes on the heels of strong momentum for SmartRecruiters. In the last 12 months, the company added 200+ enterprise customers, grew revenue 50% and experienced 70% bookings growth – during a global pandemic. SmartRecruiters was also recognized as a differentiated leader in enterprise talent acquisition by IDC and as a high performance, high potential category leader by Fosway; analysts consistently rank SmartRecruiters as a leader in both strategy and capability.
The funds will be used to accelerate product development with the addition of 200 engineers as the company continues to innovate in the areas of recruitment process automation, onboarding, conversational intelligence, recruitment marketing and delivering Hiring Success. SmartRecruiters will also continue to expand go-to-market efforts across US, EMEA and APAC, and will provide on-the-ground support for its growing customer community and partner ecosystem.
“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 already helps some of the world’s most prominent enterprises, including Visa, Square, McDonald’s, Ubisoft, FireEye, Biogen, Equinox, Public Storage, and others. The company’s hiring success framework has been adopted as the foundation for improved recruitment processes and improved recruitment outcomes by hundreds of large enterprises and high-growth startups worldwide. SmartRecruiters also delivers consistently happy customers, with a 9.1 CSAT and a net retention rate of over 95%, significantly outperforming other enterprise SaaS providers in product support and customer satisfaction.
SmartRecruiters believes that you are who you hire. The company is hiring across all departments to fuel the next stage of rapid growth. Check out the careers page to learn more and jump on this rocketship: https://www.smartrecruiters.com/about-us/careers/.
Read an open letter from our Founder and CEO, Jerome Terynck, as he reflects on the funding round and what it means for customers and the future.
