New York-based RippleMatch has raised $23.5m in venture capital (VC) funding in an “oversubscribed round”.
The round was led by Invus Opportunities; Renegade Partners and Gaingels also participated in the financing alongside existing investors like G20 and Work-Bench.
RippleMatch’s platform helps early career candidates, including new graduates, get hired. It was founded in 2015 in a Yale dorm room by Andrew Myers and Eric Ho.
The company claims it is offering more than just a job board. Instead, RippleMatch automates entry-level recruiting, thereby optimizing the job-hunting experiences for candidates and the recruitment process for companies. It aims to get passive job hunters to see appropriate roles in companies they wouldn’t necessarily have thought to apply to.
It also aims to support companies in building teams that are genuinely diverse, as well as effectively hire talent in the new virtual world of working, by connecting them with a wider range of universities and colleges across the US.
Companies that use RippleMatch’s platform include EY, AB InBev, Amazon, and SAP.
“The new funding will allow us to continue building out our intelligent hiring platform, empowering companies across the country to understand their data and build a recruiting pipeline that more accurately mirrors the demographics of the broader US population,” noted RippleMatch CEO Andrew Myers.
Launch of RippleMatch CRM
Simultaneously to announcing this influx of capital, RippleMatch announced the launch of a CRM tool as part of its platform.
This latest tool, RippleMatch says, will allow companies to foster and nurture candidate relationships better through the recruitment process, including sharing marketing content and inviting them to additional recruitment events.
It expects to launch its CRM platform in the coming months; watch this space.