Investors sure seem to love the hiring space. In the most recent example, recruiting solution Jobvite announced today it has nabbed $25 million.
“Recruiting has to be like marketing,” president and CEO Dan Finnigan told VentureBeat. “Companies have to do it all the time, always filling their pipeline.”
He noted that the generation of his father, a human resources executive, held an average of four jobs in a lifetime. Finnigan, whose experience includes SVP/GM of HotJobs and the board of CareerBuilder, said the lifetime average number of jobs for his generation is seven, and for those now in their 20s, it’s more like 15 to 20.
That means that companies have to constantly be on the lookout for new talent, because theirs will soon leave.
“We’re the only company,” he said, “that supports the entire funnel of recruiting, [while] most companies are traditional ATS [applicant tracking system] tracking companies.”
Finnigan cited Jobvite’s use of social, mobile, video, and data analytics and emphasized its continual sourcing and nurturing of candidates — not unlike the never-ending lead sourcing and relationship management common in many companies’ sales and marketing efforts.
The funding from the recently completed Series D round, led by Catalyst Investors, will be used as “growth equity” for scaling the company, Finnigan said. Specifically, the new money will boost marketing and sales, product innovation, and global expansion.
Founded in 2004, Jobvite was initially in an incubation mode for several years. The first funding came in 2007, and to date the San Mateo, Calif.-based company has raised a total of $55 million. Jobvite said that its client companies — its current client base is more than 1600 — have hired over 200,000 people. Over 46 million job seekers interact with a Jobvite-enabled career site every year.
Jobvite’s newest funding is only the latest in a string of investments in recruiting and hiring solutions.
Lever announced $10 million last week. Other recent funding includes $1.5 million for Workable in March; $7 million to Work4 in April; $20 million for Jibe in May; $13.5 million to Gild in June; and in August Hireology took in $10 million, and Resumator received $15 million.