SOURCE: Appcast

Appcast

November 12, 2015 07:00 ET

Appcast Raises $5 Million in Latest Round of Financing

Company to Use New Funding to Advance Sales, Marketing and Product Development of Revolutionary Recruitment Advertising Technology

LEBANON, NH--(Marketwired - 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.

About Point Judith Capital
Point Judith Capital is a leading early stage venture capital firm focusing on investments in software and technology enabled services. The firm takes an active approach to investing, striving to build collaborative relationships with portfolio company management. Founded in 2001, the firm has backed over 50 market-leading companies that have collectively achieved over $12.5 billion of value including Nest Labs (acquired by Google) and Optasite (acquired by SBA Communications).

About Baird Capital
Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Baird Capital's venture team invests in early and expansion-stage technology-enabled services and healthcare companies. Having invested in more than 290 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital is the direct private investment arm of Robert W. Baird & Co. For more information, please visit www.BairdCapital.com.

About IrishAngels
IrishAngels (http://irishangels.com/) mission statement is to "Marry our passion for Notre Dame with our collective entrepreneurial urge and instincts, to find and fund the most promising ND affiliated new ventures resulting in a Chicago based, nationally inspired angel investing brand." IrishAngels is dedicated to funding high potential startups both in Chicago and across the country in which a founder, Board member, or active investor is a graduate, student, parent, or faculty member at the University of Notre Dame. IrishAngels facilitates entrepreneurial success and exceptional ROI through close advisory relationships with its portfolio companies. The management and operational experience of the collective group as well as the network of connections is an invaluable resource to companies in which the group invests.

About Appcast
Appcast is a new way to advertise your open jobs on a 'pay-per-applicant' basis across a network of thousands of career and consumer sites. It works with all applicant tracking systems, requires no long-term contracts, and is simple to use. Headquartered in Lebanon, N.H. with offices in Cambridge, Mass., Appcast debuted in January 2014 and is the latest business incubated out of StartDateLabs. To learn more, visit: http://www.appcast.io.