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Gautam Godhwani founded Simply Hired raises $4.6 Million
By siliconindia
Bangalore: Gautam Godhwani founded Silicon Valley based job listing search engine Simply Hired, has announced a new round of financing to raise $4.6 million in series D funding. This round of funding is led by IDG Ventures and Foundation Capital.
With this new round of financing, Simply Hired aims to support the future domestic growth, increasing headcount from 50 to 80 in 2009, and accelerate international expansion. The funding follows 16 consecutive quarters with revenue growth and four quarters of positive cash flow. Including this funding round, Simply Hired has raised $22.3 million to date.
According to ComScore and Nielsen Media, 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 23 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 a ranking as one of the forty most trafficked websites in the United States, 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," said Gautam Godhwani, Co-founder and CEO at Simply Hired.
Founded in 2003, Simply Hired has recently launched localized job search engines for Brazil, Belgium, Ireland, Italy and the Netherlands. The company now operates in 13 countries and seven languages across five continents. Other markets include Australia, Canada, France, Germany, India, Spain and the United Kingdom. The funding will enable Simply Hired to extend its reach into new markets, allowing job seekers worldwide to search more than five million job openings.
Godhwani also said 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. Under terms of the agreement, Phil Sanderson, Managing Director at IDG Ventures, joins the company's Board of Directors.
