Simply Hired Raises $4.6 Million in Series D round of Funding
Date: Monday , August 31, 2009
Simply Hired, a Silicon Valley based job portal headed by Gautam Godhwani, has bagged $4.6 million in its series D round of funding. IDG Ventures and Foundation Capital led the funding to assist the company to further augment its presence in the international market.
“With this new round of funding, we aim to support the future domestic growth, increasing the headcount from 50 to 80 in 2009, and accelerate our international expansion,” says Gautam Godhwani, Co-founder and CEO, Simply Hired. The funding follows 16 consecutive quarters of revenue growth and four quarters of positive cash flow. Including this round of funding, Simply Hired has raised $22.3 million to date.
According to ComScore and Nielsen Media, the privately held Simply Hired was the fastest growing job site in 2008. Its network, where Simply Hired powers job listings, includes LinkedIn, MySpace, The Washington Post, CNNMoney, BusinessWeek, and Plaxo, reaching 24 million visitors monthly. This strategy of reaching job seekers where they are spending their time on the Web, has earned SimplyHired.com and its network the ranking as one of the forty most trafficked websites in the US, according to Quantcast. “Job search is a global problem, and Simply Hired is committed to reaching both active and passive job seekers globally at both SimplyHired.com and at other online destinations through our network,” says Godhwani.
Founded in 2003, Simply Hired has recently launched localized job search engines for Brazil, Belgium, Ireland, Italy, and the Netherlands. Its other markets include Australia, Canada, France, Germany, India, Spain, and the UK; and the company now operates in 13 countries and seven languages across five continents.
Godhwani says that IDG Ventures enables Simply Hired to continue to expand its footprint with additional resources and facilitates the company’s relationship with the network of 450 IDG online properties.