Hired, a startup aiming to make hiring employees and finding a job easier and more efficient, has raised a $15 million Series A round led by Crosslink and Sierra Ventures with participation from SoftTech and Sherpa Ventures. Crosslink’s Eric Chin and Sierra Ventures’ Tim Guleri will be joining the Hired board
Hired, which recently rebranded from its original moniker of DeveloperAuction, previously raised $2.7 million in seed funding from SoftTech, New Enterprise Associates, Google Ventures, Sierra Ventures, Crosslink Capital, and Haystack. Co-founder and CEO Matt Mickiewicz says Hired received several other term sheets, but decided to stick with existing investors for the round. The Series A is a major vote of confidence from Hired’s investors, as Mickiewicz says it values Hired in “almost the exact same ballpark” as the valuations Uber and Airbnb received for their Series A rounds.
Uber raised an $11 million Series A in early 2011 led by Benchmark Capital that valued the company at $49 million pre money ($60 million post-money). Airbnb raised $7.2 million for its Series A round in November 2010.
That’s stellar company to be in for Hired, which has the numbers to back it up. Mickiewicz says revenue grew 4x in 2013 and 40% month over month from January to February this year. While he declined to discuss the company’s bottom line in more detail, he says profitability is not an immediate concern as they are focused on growing and scaling Hired right now. The platform currently has over 800 approved employers, and over 200 have employees working for them whom they found through Hired. Mickiewicz adds that over 12,000 developers and 400 companies apply to be added to the marketplace every month.
Mickiewicz says the new funds will be used to build the Hired team and expand geographically, with launches set for Los Angeles, Boston, and Seattle this year. Hired currently has 31 employees, and Mickiewicz and his cofounders have hired everyone from the head of design to product managers to engineers through the Hired marketplace.
Within the next couple of years, Mickiewicz aims to expand Hired internationally to London, Dublin, Berlin, and beyond, and beyond tech roles to sales, accounting, finance, and other professions. He says the biggest challenge to the company’s growth is expanding both sides of the marketplace while maintaining high quality for both employers and candidates. Mickiewicz and his team have been very successful at growing the platform so far; aided by this new influx of capital, this is a company to keep an eye on.