Human resources technology company CareerArc announced that it has raised $30 million in funding. PeakEquity Partners led this round of funding through its PeakEquity Partners I, L.P. (“PEP I”).
CareerArc combines social recruiting and virtual outplacement solutions to enable customers to recruit talent, transition their workforce, and enhance their employment brand. Here is how it works:
With this round of funding, CareerArc is going to aggressively expand and accelerate its sales and marketing efforts.
“This investment and the support of the team at PeakEquity Partners should allow us to accelerate our growth, expand product offerings and strengthen our market position,” said CareerArc co-founder and CEO Robin Richards in a statement. “PeakEquity has a broad set of strategic and operational experience in building software companies that will be valuable as we continue to execute on our vision and take CareerArc to the next level.”
CareerArc Social Recruiting allows companies to distribute jobs across social channels, create shareable social media content, and measure campaign results. CareerArc Virtual Outplacement enable companies to prepare employees for their next career step through resume development tools, skills, assessments, job matching, and career coaching.
“We believe this transaction will enable CareerArc to build on its long history of providing innovative HR technology solutions, leverage its strong SaaS technology platform and continue to grow share in a multi-billion dollar addressable market,” added PeakEquity partner Ric Andersen. And PeakEquity partner D.J. Andrzejewski pointed out that the founders of CareerArc have partnered together in their last three companies and have had a 20-year working relationship.
