The weather isn’t getting much warmer, but activity in the recruitment marketing biz certainly is. We’ve seen new rounds of funding, launches, and acquisitions – and that’s just in the last 4 weeks! So let’s get to it:
- Addeco buys Vettery: The Adecco Group, a global HR services firm headquartered in Switzerland, announced that it acquired Vettery. The financial terms were not disclosed, but a source with knowledge of the deal said that the price was a little over $100 million. Vettery says it now works with more than 4,000 employers to fill positions in IT, sales and finance. It’s raised a total of $11.9 million from investors, including Greycroft and Raine Ventures. $100M buys a lot of coffee.
- DHI reports results: DHI reported 4th quarter total revenues of $50.9 million, net income of $11.8 million and diluted EPS of $0.24. They also managed to sell HealtheCareers for $15 million and move much of their operations to the cloud. ClearanceJobs completed a successful year finishing with Q4 revenues growing 23% year-over-year. Overall, the company is looking at a 5% revenue decline. Not great in a hot labor market.
- HackerRank raised money: HackerRank, the skills-based recruiting platform and online coding challenge community which also competes with DHI for tech talent, announced that it has raised a $30 million Series C funding round led by JMI Equity. The service has brought on a wide variety of companies to its HackerRank for Work program that are looking to use the services platform (and community) to recruit developers. HackerRank currently has about 150 employees but this new round will allow it to hire a few more. Interesting indeed.
- TripleByte also raises money: Triplebyte, a three-year-old San Francisco startup developing software and tools to assess engineers’ skills and match them to available jobs, raised a $10 million Series A round led by Initialized Capital. Triplebyte evaluates prospective candidates’ skills via online tests and technical interviews; then algorithms match their skills to the available jobs best suited to them. Double interesting indeed.
- Facebook rolls out job postings worldwide: Facebook is rolling out job posts to 40 more countries. Businesses will be able to post job openings to a Jobs tab on their Page, Jobs dashboard, Facebook Marketplace, and the News Feed that they can promote with ads. Meanwhile, job seekers can discover openings, auto-fill applications with their Facebook profile information, edit and submit their application, and communicate via Messenger to schedule interviews. However, for some reason they’re skipping Germany. Market’s getting crowded.
- Joveo raises and buys: Joveo raised $5 million in Series A funding. It also acquired Ripple Labs, a programmatic media buyer . The programmatic world gets more crowded.
- RealMatch launches PandoIQ: Speaking of programmatic, RealMatch has started a solution for employers looking to take advantage of the programmatic advertising trend, called pandoIQ. Customers using pandoIQ will feed their jobs into the platform and let the algorithms do the heavy lifting. Openings get distributed through sites like Indeed, LinkedIn, Jobs2Careers, and others. As I was saying….
- Monster’s revenue drops: Similarly to the previous quarter, Q4 of FY2017 brought only 1% revenue growth for Randstad North America – with flat growth in US and 10% revenue increase in Canada — yet revenue in Europe grew by 11%. Monster’s revenue dropped by 15%. Hmm.
- Indeed’s revenue goes…yep, up: Recruit Holdings reported revenue rose 11.2% as measured in yen in its fiscal third quarter ended Dec. 31, 2017. The Tokyo-based firm, which owns Indeed, reported fast growth Indeed revenue rising 60.6% on a US dollar basis. Growth at Indeed “was mainly due to a combination of new customer acquisition and expanding spend from existing customers against the backdrop of a favorable economic environment and strong labor market,” according to the company. Google Jobs doesn’t seem to be hurting them yet.
- ZipRecruiter is raising money again: ZipRecruiter is returning to the fundraising well for the first time since 2014, authorizing a new round of financing that values the company at almost $1 billion.The eight-year-old company is slated to raise around $50 million in new capital, according to a fundraising document, and it is in talks to possibly collect even more money beyond that. The Santa Monica-based company led by Ian Siegel has close to 1,000 employees. Wow.
- JobandTalent gets even more funding: Blue-collar recruitment app-cum-digital temp agency JobAndTalent.com closed a €6 million ($7.4 million U.S.) venture debt agreement. JobAndTalent has doubled its transaction value, doing nearly €50 million ($62 million U.S.) worth of business in the past year. Ok.
- SEEK makes a lot of money: SEEK Limited, the Australian-based job site giant, announced its results for 6 months ended 31 December 2017, including reported revenue of A$620.3m (pcp: A$487.9m), and reported EBITDA of A$221.2 (pcp: A$170.3m). SEEK is expecting revenue growth in the range of 20% to 25% (FY18 vs FY17). They are also reporting good results in their China and Latin America properties. Something’s working right.
- Jobcase raises some funding: In its latest round of funding, job search site Jobcase has raised $11.5 million. This round was spearhead by Providence Equity Partners, and is in addition to a previous $7 million raised in series A funding. Jobcase is an industry affiliated partner of MIT’s Computer Science and Artificial Intelligence Laboratory, CSAIL, and Jobcase technology also powers over 100 job sites in the Jobcase Network.
- Glassdoor might finally IPO: Don’t hold your breath, but…Glassdoor is looking for banks to advise the company on a planned 2018 IPO, according to Bloomberg. Glassdoor has raised $204.5 million in venture capital, according to Crunchbase. Its most recent funding round was in 2016, when the company raised $40 million at a reported valuation of over $1 billion, in a deal led by T. Rowe Price. Well, I’ll believe it when I see it.
Whew! You can tell that it’s money season in our industry. Hopefully you’re getting a taste of it. Till next time![Want to get Job Board Doctor posts via email? Subscribe here.]