Simply Hired, a job listing search engine based in the Silicon Valley, announced today that it has crossed into profitability with a new $4.6 million in fourth-round capital from IDG Ventures and Foundation Capital. The company is also marking four consecutive quarters of positive cash flow.
Simply Hired says it plans to use the funds to expand its global presence, making it one of the top job databanks in the business. It will also grow its headcount from 50 to 80. Its main web site, SimplyHired.com, crawls the web and pulls together 5 million listings. It also serves listings on other major sites, significantly LinkedIn, MySpace, WashingtonPost.com and CNNMoney.
Simply Hired distinguishes itself from competitors like CareerBuilder and Monster.com by using a pay-per-click model for advertising revenue. Basically, its advertisers only pay when visitors to the site are actually clicking on them. This is very similar to Google’s model for advertising. So far, it seems like this practice has popularized the site and not damaged its revenue flow.
Right now, Simply Hired operates in 13 countries and seven languages. It says it doesn’t expect to raise any more capital following this round. It has raised $22.3 million to date. Past backers include Fox Interactive Media and Garage Technology Ventures in addition to a flock of notable individual investors: Rajeev Motwani, Guy Kawasaki and Ron Conway, to name a few.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn more about membership.