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Simply Hired hiring - company raises $4.6 mln

Job search engine plans to expand globally and increase headcount

Financial trends and news by Chris Caceres
August 11, 2009
Short URL: http://vator.tv/n/9e6

For the jobless, Simply Hired is proving to be a site of choice to seek employment online.

Simply Hired, a job search engine, announced its secured $4.6 million in new funding from IDG Ventures and Foundation Capital.  The company has raised $22.3 million to date.  

The Mountain View, Ca.-based startup offers its users a job search engine similar to the familiar Monster.com and Yahoo's Hotjobs.  The design is cleaner overall and not cluttered with obnoxious banner ads, instead, simple Google ads tucked to the side.  Simply Hired allows users to search by job and location and then aggregates results from other employment sites like VentureLoop and Dice, along with results directly posted by the employers themselves.  By tapping into its partner sites, SimplyHired has over 5 million job listings.

The company says it has been operating cash flow positive for the past four quarters with revenue growth for 16 consecutive quarters.  It also has seen growth on its network of 5,000 partner sites.  Comscore and Nielsen both reported Simply Hired was the fast growing job site in 2008.  It reaches 23 million unique visitors monthly.

Along with the fundraising, Phil Sanderson, managing director at IDG Ventures joins Simply Hired's board of directors.  On the next steps for Simply Hired, Sanderson stated, "Our relationship with IDG enables Simply Hired to expand its footprint globally, and create additional network partners within the IDG family.”

Simply Hired plans to increase its headcount from 50 to 80 in 2009, and accelerate international expansion.


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