HRchitect Tech Vendor News: SmashFly Technologies Secures $9 Million to Advance Vision for Total Recruitment Marketing

BOSTON, June 24, 2014 /PRNewswire-iReach/ Last June, J.P. Morgan Chase published a study that suggested more than 75 percent of businesses today cite talent acquisition as one of their biggest challenges. While talent acquisition can be exacerbated by a number of issues, one particularly glaring obstacle is that many organizations continue to rely on legacy ERP and ATS systems to manage the post-applicant recruitment process. Meanwhile, the pre-applicant recruiting experience continues to be haphazardly managed by several disparate solutions namely, CRM systems, job distribution software, mobile and social recruiting tools, and myriad career sites.

Ultimately, the result of all of that is an overly complex, costly, and inefficient recruiting process, which prevents recruiting teams from capturing and centralizing data two critical components of executing and improving talent acquisition. SmashFly Technologies, the leader in Recruitment Marketing Platform technology, believes its Platform is the answer to those challenges. And today, the Massachusetts-based SaaS company announced that it had secured the funding to help bring that solution to the masses.

Led by OpenView Venture Partners, SmashFly’s $9 million Series A round arrives at a time of considerable momentum for the company. Over the past four quarters, SmashFly has achieved exponential growth, made several key hires to bolster the company’s executive team, and established a handful of important strategic partnerships, most notably with industry leading recruitment process outsourcing (RPO) provider Randstad Sourceright. Year-over-year, the company’s sales have increased by 263 percent, the largest gain since the company was founded in 2007.

“At OpenView, we are seeing a fundamental shift in how companies recruit,” says OpenView Venture Partner George Roberts, who will take a seat on SmashFly’s board of directors. “Hampered by legacy ATS, companies are looking for progressive solutions that move beyond transactional processes by leveraging proactive, data-driven talent recruitment strategies. With their unique product vision, growing customer base, and experienced team, we believe SmashFly is a leader in the next wave of recruitment innovation for companies that are serious about building great teams.”

SmashFly’s Platform delivers key recruiting insight by weaving the key elements of disparate technologies (social, SEO, mobile, career sites, web sourcing, job distribution, CRM and referral programs) into a single, organically built Recruitment Marketing Platform. By integrating this easy-to-use Recruitment Marketing Platform with an existing Applicant Tracking System (ATS), SmashFly provides complete data and analytics to every stakeholder in the hiring process from the recruiter managing the search to senior executives and the line of business. Collectively, the Platform helps organizations gain greater visibility into their recruiting process and more easily evaluate and improve on their talent acquisition results.