Jibe Inc. has raised $20 million from a clutch of new investors as it looks to expand its business helping employers fix their hiring processes.
The New York-based company has its roots in the TechCrunch DemoPit circa 2009, when it was known as LocalBacon.
Since that illustrious start, the company pivoted to focus on selling software as a service to large business customers, according to chief executive officer Joe Essenfeld.
Now, if you’re applying for a job at pretty much any of the big Fortune 500 companies, you’re working with Jibe’s technology, Essenfeld says.
It was, in part, the large roster of big corporate clients that attracted new investor SAP Ventures, which led the round with assistance from previous Jibe backers Polaris Partners, DFJ, Gotham Ventures, Longworth Venture Partners and Thrive Capital.
“We focus on providing a consumer front end to the job search and application process specifically,” says Essenfeld. “We’re coming in and optimizing the actual experience of applying for a job and looking for a job.”
While the front-end, job-seeking interface is where the company found its initial success, especially on mobile devices, the back-end analytics for enterprises is now a key driver for its growth, Essenfeld says. “It takes real-time data from the company’s hiring process so they can see where applicants are falling off. It gives hiring managers a full dashboard into how they’re doing.”
With the new financing from SAP Ventures, Jibe will continue to build out its technology offering and hire new engineering and sales and marketing staff. The company currently has 80 employees and Essenfeld expects that number to reach 120 by the end of the year.
“The HCM software market has exploded in recent years as companies search for new technologies to effectively manage recruiting and talent management needs,” said Doug Higgins, Managing Director at SAP Ventures in a statement. “As SAP Ventures has gotten to know Joe and his team, we are impressed not only by Jibe’s tremendous growth, but also by its innovative products and blue-chip customer base.”
Photo via Flickr user Innov8Social