Record-Breaking Momentum in 2015 Fuels Second Round of Investment
BOSTON, April 28, 2016 /PRNewswire/ -- Recently, Erecruit Holdings, LLC, the leading innovator in enterprise staffing software, VMS and onboarding solutions for large staffing firms and employers, announced an additional $10+ million investment led by North Bridge Growth Equity. The funding will enable erecruit to further accelerate product direction, continue to improve its customer experience and aggressively grow global sales and marketing efforts.
The financing builds on an exceptional year for erecruit, which recently reported more than 100 percent year-over-year revenue increase. In 2015, erecruit made significant software improvements in functionality, scalability and performance, resulting in a record number of wins with the largest staffing companies in North America.
"erecruit has spent the last year investing in all aspects of its business and is well positioned to solve the biggest challenges facing the staffing applications market including increasing margins, improving customer and employee satisfaction and ensuring regulatory compliance," said Ray Hood, Chairman of the Board, erecruit, and Operating Partner, North Bridge. "This additional investment will help fuel this continued growth and momentum so erecruit can continue to seize the market opportunity and solve the challenges of the world's largest staffing companies."
"We spent 2015 building the industry's most comprehensive enterprise software platform integrating the front, middle and onboarding functions to drive performance, profitability and productivity -- making it easier for companies to find these elusive candidates," said Dave Perotti, Chief Executive Officer, erecruit. "This increased operating capital allows us to continue to build the breadth and depth of our products to meet the toughest staffing industry challenges and continue this unprecedented growth."
erecruit is the leading innovator in enterprise staffing software, VMS and onboarding solutions for large staffing firms and employers. erecruit uses modern, standards-based technologies to provide a highly scalable and configurable solution that allows today's best firms to put their clients, candidates and vendors at the heart of their businesses. erecruit is headquartered in Boston, MA. To learn more, visit www.erecruit.com. erecruit is a trademark of Erecruit Holdings, LLC.
About North Bridge
North Bridge Venture Partners and North Bridge Growth Equity are active partners with entrepreneurs providing seed-to-growth financing for innovative companies looking to disrupt big markets. With $3.5 billion in capital currently under management, North Bridge partners, many founders themselves, work with entrepreneurs to apply their expertise in the creation, operation and scaling of market-leaders. The firm has funded more than 170 companies creating many billions in market value. Among those firms are Acquia, Actifio, Cool Planet, Demandware, Mavenir Systems, Paydiant, Proto Labs, Reval and Starent Networks. The firm has offices in Waltham, MA and Palo Alto, CA. To learn more about North Bridge, go to www.northbridge.com.