TalentWise Raises $25 Mln


TalentWise said Tuesday it raised $25 million of growth capital. TalentWise did not name the investor but said it was a Seattle-based private equity investor group. Citi served as the sole placement agent to TalentWise, which provides a platform that aims to automate the hiring process.

PRESS RELEASE

BOTHELL, Wash., June 11, 2013 /PRNewswire/ — TalentWise, the industry-leading Hiring Process Management (HPM) solutions provider, today announced it raised $25 million of growth capital from a Seattle-based private equity investor group which will allow the company to further expand its product capabilities and scope of operations.
TalentWise has experienced significant and consistent growth, with revenue increasing by more than 50 percent in 2012. This growth is attributed to TalentWise’s recognized leadership position in the HPM market and the high demand for increased organizational efficiencies in the hiring process.
“TalentWise is transforming the way companies hire,” said William Kerr, CEO of TalentWise. “Our investor recognizes the tremendous opportunity for cloud solutions that streamline the hiring process. With this investment, we will continue to deliver leading-edge technology that makes the hiring process more efficient, compliant and a better experience for all.”
U.S. companies hired 52 million employees in 2012, according to the U.S. Bureau of Labor Statistics. TalentWise is uniquely positioned to capitalize on the HR industry’s high demand for a cost-effective and compliant hiring process.
Todd Owens, President and Chief Operating Officer of TalentWise commented, “We’re incredibly excited about this investment which fully funds our accelerating growth trajectory. We’re growing and scaling to meet the specific hiring needs of organizations of any size, in any industry.”
Citi served as the sole placement agent to TalentWise.
The employee lifecycle consists of recruiting, hiring, and employing, and TalentWise picks up where recruiting leaves off. Its proprietary cloud-based software solution, TalentWise Hire, automates the undeniably complex hiring process so HR can manage all activities electronically, including offer letters, background checks and drug screening, E-Verify, new hire forms and I-9s, and more. The solution integrates seamlessly with applicant tracking systems on the front end, and talent management and payroll solutions on the back end. The result is a single hiring solution from the moment the offer letter is extended to the day the new hire is productive in their role, and provides HR, hiring managers, candidates and new hires alike increased efficiencies, assured compliance, and an overall better experience.
A senior representative of the investor group stated, “What impresses us most about TalentWise is their incredibly powerful software which, when coupled with their award-winning service, provides the HR industry with a solution it has been seeking for some time. This investment also accelerates TalentWise’s growth and creates new job opportunities in the Pacific Northwest during a period of high unemployment.”
TalentWise will be at the Society for Human Resource Management (SHRM) Convention in Chicago on June 16-19, demonstrating its cloud-based hiring solution.
For more information about TalentWise, please visit http://www.talentwise.com.
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About TalentWise, Inc.
TalentWise, Inc. (TalentWise) is a technology company that’s transforming the way HR selects, screens, and onboards new hires. TalentWise has built a single, online platform that automates the hiring process end-to-end, resulting in a highly efficient and seamless experience for HR, hiring managers, candidates and new hires. TalentWise has made Workforce Management Magazine’s “Hot List” for the last six years, and is the only provider ranked by HRO Today magazine in the Top 5 “Overall” and for “Quality of Service” for the last five years. For more information about TalentWise, visit http://www.talentwise.com.