Concord, Mass.-based SmashFly Technologies, provider of a recruitment marketing platform, has raised $22 million in Series B funding led by Bessemer Venture Partners. Existing investor OpenView Venture Partners also participated in the round, which brings the company’s total funding to $31 million. As part of the Series B round, Bob Goodman, partner at Bessemer, has joined the company board. SmashFly said it will use the funds for product development and to open an office in Boston.
SmashFly Raises $22 Million in Series B Funding Led by Bessemer Venture Partners
Company to Open Boston Office and Double Headcount in 2016 to Continue Leadership in Recruitment Marketing Platforms
CONCORD, Mass. – January 12, 2016 – SmashFly Technologies, the leading Recruitment Marketing Platform provider, today announced it has raised $22 million in Series B funding led by Bessemer Venture Partners. SmashFly will use the funds to accelerate product development, open an office in Boston and hire an additional 70 engineering, customer success, marketing and sales professionals in Massachusetts and nationwide. Existing investor OpenView Venture Partners also participated in the round, bringing SmashFly’s total financing to $31 million. Timed with the investment, Bob Goodman, Partner at Bessemer Venture Partners, has joined the SmashFly Board of Directors.
Founded in 2007, SmashFly provides recruitment marketing automation software-as-a-service (SaaS) for leading employers like Nestle Purina, The Cheesecake Factory, CDW, Great Clips and CH2M. The company’s award-winning Total Recruitment Marketing Platform automates the process of attracting and nurturing candidates and converting them into job applicants, so recruiters can make great hires faster and more cost effectively. For example, Fortune 500 global engineering firm CH2M added 150,000 interested candidates to its talent pipeline in the first year using SmashFly. CH2M saved $750,000 in ineffective job advertising and shifted budget to modern recruiting strategies such as email, social and SEO, helping to reduce the cost per hire from $10,000 to $4,300.
SmashFly joins an impressive list of Bessemer investments in Human Capital Management (HCM), including LinkedIn and Cornerstone OnDemand. “The next wave of innovation in HR technology is happening in the front-end of talent acquisition, and SmashFly is leading this change by modernizing how employers attract and build relationships with today’s talent,” said Bob Goodman, SmashFly Board Member and Partner of Bessemer’s New York City office. “Bessemer is excited to not only accelerate SmashFly’s growth as the market leader, but the growth of its customers as they seek to recruit and hire top talent to fuel their business.”
SmashFly will use the investment to continue the tremendous momentum it experienced in 2015:
- Customer Growth – Tripled the number of new mid-market and enterprise customers compared to last year, leading to 143% increase in year-over-year sales bookings
- Product Innovation – Released a new version of the SmashFly Total Recruitment Marketing Platform with industry-first features for managing employee referrals, controlling employer branding and personalizing the candidate experience
- Employee Accolades – Was named to Boston Business Journal’s “Best Places to Work of 2015,” became the top-rated Boston employer on Glassdoor and doubled employee count in its newly expanded Concord, Mass., headquarters
- Original Research – Published “The SmashFly Recruitment Marketing Report Card for the 2015 Fortune 500,” an analysis of how the largest U.S. companies use best-practice marketing principles to attract and hire talent
“Businesses, large and small, have realized the need to support their recruitment efforts with a best-practice marketing strategy, and SmashFly is well-positioned to take advantage of this shift,” said Ricky Pelletier, SmashFly Board Member and Partner at OpenView. “Our continued investment in the business and the additional backing from Bessemer are clear evidence of SmashFly’s vision, strategy and market leadership.”
SmashFly Founder and CEO Mike Hennessy commented, “To have attracted such high caliber investors like Bessemer and OpenView validates SmashFly’s ability to transform the way companies recruit. I look forward to working with our stellar Board, our dedicated and passionate team, and our forward-thinking customers and partners to drive better talent acquisition results with new marketing competencies, proven strategies and purpose-built technology for the front-end of recruiting.”
SmashFly enables talent acquisition teams to replace disconnected recruiting tools with a Total Recruitment Marketing Platform that combines job marketing, web sourcing, recruitment CRM, talent networks, mobile-responsive and SEO-optimized career sites, social recruiting, employee referrals and recruiting analytics all in one, easy-to-use SaaS platform that integrates with any applicant tracking system (ATS).
To learn about our job opportunities, visit SmashFly’s career site.
About SmashFly Technologies
SmashFly’s award-winning Total Recruitment Marketing Platform enables talent acquisition teams to attract, engage, nurture and convert candidates into qualified applicants using a centralized management system that automates and measures recruiting strategies and programs. Customers use SmashFly to unite their previously disconnected recruiting tools into an integrated software platform for Job Marketing, Web Sourcing, Candidate Relationship Management (CRM), Talent Networks, mobile-responsive and SEO-optimized Career Sites, Employee Referrals, Social Recruiting and Recruiting Analytics. Used to target pre-applicants in the front-end of the talent acquisition process, SmashFly integrates with any applicant tracking system (ATS) to provide unparalleled, real-time analytics on the sources that produce the best hires for the organization. Learn more at smashfly.com and follow us on Twitter @SmashFly.