By Ingrid Lunden
The global COVID-19 pandemic had a chilling effect on a number of industries and their workforces, resulting in mass furloughs and layoffs. But now, with countries taking steps back to “normal”, that has been leading, in many cases, back to a hiring surge. Today, SmartRecruiters, one of the companies that has built software to handle that process more smoothly, is announcing $110 million in funding to seize the moment.
The funding, a Series E, is coming in at a $1.5 billion valuation, the company confirmed. Silver Lake Waterman is leading this round, with previous backers Insight Partners and Mayfield Fund also participating.
The investment will be used in two areas. First, SmartRecruiters plans to continue expanding business — its primary customers are large enterprises, with Visa, Square, McDonald’s, Ubisoft, FireEye, Biogen, Equinox and Public Storage among them, and the plan will be to bring on more of these globally. Jerome Ternynck, SmartRecruiters’ CEO and founder, pointed out that one of its clients, Pilot Travel Centers, made a move recently in which it had to swiftly ramp up by 10,000 people in 90 days.