Company to Use New Funding to Advance Sales, Marketing and Product Development of Revolutionary Recruitment Advertising Technology
LEBANON, N.H. – Nov. 12, 2015 – Appcast, the first pay-per-applicant job ad exchange, today announced that it has received $5 million in new funding to further drive the company’s growth in developing technology solutions for the talent acquisition industry.
Point Judith Capital, a new investor, led the round, with participation by another new investor, IrishAngels, and existing investor Baird Capital. This investment brings the total funding that Appcast has raised to date to $7.4 million. The new capital will be used to expand the company’s sales, marketing and product development efforts as it continues to pioneer the programmatic job ad buying field for talent acquisition.
“In our short time on the market, Appcast has proven to be an incredibly valuable solution for employers seeking to recruit candidates more efficiently and affordably,” said Chris Forman, founder and CEO of Appcast. “Our technology delivers a new approach to connecting with talent in today’s challenging hiring landscape. We are grateful to our investors for recognizing our already strong results and providing the capital to extend our reach to new channels and expand our product functionality to further improve our clients’ talent acquisition processes.”
In connection with the investment, Sean Marsh, co-founder and general partner of Point Judith Capital, has joined Appcast’s board of directors.
“Appcast has set itself apart in the crowded recruitment technology environment by introducing a new model for how employers source top talent,” said Marsh. “The combination of Appcast’s entrepreneurial spirit and disruptive approach to the traditional process of advertising jobs are just some of the reasons we decided to invest. We see great potential in the company and are eager to support its future growth.”
“Baird Capital strives to help innovative companies succeed in the global marketplace, and Appcast is an ideal example of the pioneering organizations we want to support,” said Benedict Rocchio, partner at Baird Capital. “We recognized Appcast’s enormous promise early on, and we are thrilled to provide the additional capital to help take it to the next level.”
Since its founding in 2014, Appcast has revolutionized how employers advertise their open positions, introducing a ‘pay-per-applicant’ model whereby they are only charged when job candidates apply to their positions, rather than paying on a per-click or posting basis. Employers benefit from access to a network of more than 6,000 career and consumer sites to promote their jobs risk-free and with no fees or long-term contracts to use the software. In addition to employers, Appcast provides services for agencies and job boards to better manage their recruitment media from one centralized platform, and provides job publishers access to hundreds of thousands of sponsored employer jobs.
With its latest round of investment, Appcast can further enhance its transformative recruitment advertising solutions and help more companies overcome their biggest talent acquisition challenges.
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