Technology Crossover Ventures Leads Investment to Capitalize on Expanded Market Opportunity
SILICON SLOPES, UTAH (June 2, 2015) – Team Acceleration software provider HireVue, today announced it has closed $45 million in funding led by Technology Crossover Ventures (TCV), a leading provider of growth equity for premier technology companies and investors in Zillow, Netflix, ExactTarget and Facebook. HireVue’s previous investors, including Sequoia Capital, Granite Ventures, Investor Growth Capital, Peterson Ventures and Rose Park Advisors’ Disruptive Innovation Fund also participated in the round. Nari Ansari, a principal at TCV, will join HireVue’s board of directors.
Today, HireVue also announced the launch of its Team Acceleration Software, which puts the power to build and coach great teams, fueled by digital video and predictive data analytics, directly in the hands of business managers everywhere.
“The new world is about empowering managers and teams – not slowing them down with administrative tasks like time tracking, compliance, benefits and payroll,” said Mark Newman, founder and CEO, HireVue. “Team Acceleration is the way and philosophy that today’s most successful companies are built on. The market opportunity is even bigger than talent management. HireVue customers grow faster, are more profitable, and deliver awesome customer experiences by building and coaching the world’s best teams through our platform. We’re excited to partner with TCV as we push to our next phase of growth and put the power of our Team Acceleration software in the hands of business leaders everywhere.”
The funding and Team Acceleration software launch capitalize on other recent company momentum including:
- Named one of the Top 10 “Most Promising Companies in America” by Forbes
- Named the fourth fastest-growing cloud app of the first quarter of 2015, alongside mainstream apps including FitBit and Slack*
- Record fiscal year 2014 growth
- Working with 26 of the Fortune 100
- Selling out its 2nd Annual Digital Disruption user conference in Park City, Utah
“HireVue’s customers have a unique consumer-like passion for the technology,” said Ansari. “Not only are they realizing a direct and measurable return on investment; they are simultaneously driving a more efficient and effective process around the strategic acquisition, assessment and development of talent to drive their organizational agendas. We’re excited to partner with HireVue to help grow the customer and product footprint and capitalize on an incredible market opportunity.”
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