SmartRecruiters Series-E

A recruitment software startup that facilitates a fully remote hiring process has raised $110 million in a round led by Airbnb- and Twitter-backer Silver Lake.

California-based SmartRecruiters, which was founded in 2010, reported explosive growth during the COVID-19 pandemic, as employers and prospective employees alike were forced to adapt to exclusively online recruitment.

Existing backers Insight Partners, which has previously invested in the likes of DocuSign and Shopify, as well as Lyft-investor Mayfield Fund also joined the Series E round. The new round sent the company’s valuation soaring to $1.5 billion from the $300 million value it attained during its pre-pandemic Series D.

Over the past 18 months, companies have shifted to fully virtual interviewing due to the pandemic. Even as offices reopen, hiring more full-time remote workers looks set to be the new reality at many organizations.

SmartRecruiters’ software allows employers to track candidates at every stage of the hiring process. Hiring managers can manage job requests, communicate with candidates, schedule interviews, and have new recruits sign on the dotted line.

Some of the SmartRecruiters’ best-known clients include McDonald’s, LinkedIn, Bosch, and Visa. And, as well as Silver Lake and Insight Partners, the firm was backed by VC firm Mayfield Fund.