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simply hired secures $4.6 million

Tue, Aug 11, 2009

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Simply Hired has secured $4.6 million of new investment funding from IDG Ventures and Foundation Capital.

Funding

The largest job search engine will use the funding to support future domestic growth, increase headcount from 50 to 80 this year and accelerate international expansion. Also as part of the agreement, Phil Sanderson, managing director at IDG Ventures, will join Simply Hired’s Board of Directors.

Including this round of funding, the company has raised $22.3 million from IDG Ventures, Foundation Capital, News Corporation’s Fox Interactive Media, Garage Technology Ventures and other individual investors.

“IDG Ventures focuses on companies with strong financial footing that demonstrate clear, differentiated market positioning,” Phil Sanderson, managing director at IDG Ventures, said. “Simply Hired encapsulates an ideal investment partner, with clearly outlined goals and consistent growth over the past four years. Our relationship with IDG enables Simply Hired to expand its footprint globally, and create additional network partners within the IDG family.”

Most recently, Simply Hired launched localized job search engines for Brazil, Belgium, Ireland, Italy and the Netherlands. The company now operates in 13 countries and seven languages across five continents. Other global markets include Australia, Canada, France, Germany, India, Spain and the United Kingdom.

The funding will enable Simply Hired to extend its global reach into new markets, allowing job seekers throughout the world to search more than 5 million job openings.

“Job search is a global problem, and Simply Hired is committed to reaching both active and passive job seekers globally at both SimplyHired.com and at other online destinations through our network,” Gautam Godhwani, co-founder and CEO at Simply Hired, said. “IDG Ventures enables Simply Hired to continue to expand its international footprint with additional resources and facilitates our relationship with the global network of 450 IDG online properties.”

Simply Hired has crossed a profitability milestone and operated cash flow positive for the last four quarters with revenue growth for 16 consecutive quarters. The company has seen significant growth on its SimplyHired.com site, as well as its network of 5,000 partner sites.

ComScore and Nielsen Media have found that Simply Hired was the fastest-growing job site during 2008. The network of sites where Simply Hired powers job listings includes LinkedIn, MySpace, The Washington Post, CNNMoney, BusinessWeek and Plaxo, accounting for 23 million unique visitors each month.

In addition, Quantcast has ranked SimplyHired.com and its network as one of the 40 most trafficked Web sites in America.

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This post was written by:

Jennifer Carpenter - who has written 161 posts on Cheezhead Recruiting News and Opinion.

Jen Carpenter, originally from Wellsville, New York, was a staff writer for the Hornell Evening Tribune before becoming an employee of Cheezhead.com. Jen has a journalism/mass communications degree from St. Bonaventure University. She currently resides in Lakewood, Ohio.

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1 Comments For This Post

  1. Tom Says:

    Great Deal and welcome to
    Germany and Europe!

    Best Thomas from the junior board of http://www.spirofrog.de

1 Trackbacks For This Post

  1. Die hohe Kunst der tiefen Schläge | JOBlog - der Job & Karriere Blog Says:

    [...] Jobsuchmaschine http://www.simplyhired.de/ weitere satte 4.6 Millionen Dollar Venture-Capital eingesackt hat. Die Jungs & Mädels von simplyHired sind ja mittlerweile auch in Deutschland aktiv, wenn auch [...]

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