BountyJobs, a site that connects employers and headhunters, has raised an additional $12 million in financing. The company’s big selling point appears to be the ease with which it allows employers to communicate with and monitor recruiters.
VentureBeat Editor Matt Marshall mentioned BountyJobs more than a year ago in a post bemoaning the noise in the job-search and job-marketplace space. The New York-based start-up’s chief executive Jeremy Lappin responded in the comments, claiming that Matt’s “jaw would have dropped” if he’d actually seen the site. But Lappin acknowledged that’s kind of hard, since you can’t get past the front page if you’re not an employer or a headhunter.
Well, I’m still not inclined to just take the CEO’s word for it, but at least BountyJobs has a demo video for everyone to look at. (I’d embed the video below, but I can’t seem to find any embed code.) Here’s how it works: An employer posts the position they want to fill and how much they’re willing to pay the headhunter, then the interested headhunters can approach them. Employers can accept or deny the headhunter’s offer to try to fill the job. BountyJobs also allows employers to manage the different stages of the job search process, as well as generate summaries of all their different postings. When a job is filled, employers just notify the site and BountyJobs sends the company an invoice.
A site like BountyJobs is appealing because it can help big companies manage all of their different recruiters in one place, while also reducing some of the recruiting hassle for smaller start-ups. The company says it fills thousands of jobs annually, and that its revenue has been doubling for six consecutive quarters. Competing sites include TalentHire and RecruitAlliance, but a BountyJobs spokesperson says the site is more interested in enabling communication than in simply being a place where employers and headhunters can swap resumes.
The round was led by Greylock Partners and brings BountyJobs’ total funding to $15.5 million.