SmartRecruiters 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 $1.5 billion. This financing round comes on the heels of strong momentum for SmartRecruiters. In the last 12 months, the company has experienced 70 percent bookings growth behind its expanding product set—with new messaging and analytics capabilities built on its modern talent acquisition platform. Its enterprise-grade CRM enables customers to hire across global markets as they invest in top talent and key attributes, such as diversity and inclusion.
Competitive advantage
“As the job market becomes more fluid and dynamic, companies need a v 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.”
Next growth chapter
“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.”
The new funds raised will be used to accelerate product development for SmartRecruiters’ leading talent acquisition suite in the areas of intelligence, automation and conversational interfaces. 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.
High touch, high tech
Ternynck adds, “The pandemic has changed how people connect with jobs at scale. Today’s enterprises are experiencing unprecedented competition for talent, historically high turnover rates and a huge spike in hiring costs—not to mention managing the shift to a distributed workforce. We’re committed to helping our customers navigate this new world of work through a combination of high touch, high tech.”
