SOURCE: Jobvite

December 13, 2007 08:00 ET

Jobvite Secures $7.2 Million in Series A Financing

Innovative On-Demand Recruitment Solution Attracts Investment From CMEA Ventures

SAN FRANCISCO, CA--(Marketwire - December 13, 2007) - Jobvite, the provider of next generation on-demand recruitment solutions, today announced the completion of a $7.2 million Series A financing led by CMEA Ventures. The company will use the investment to expand product development, marketing and sales efforts. Jim Watson, Managing Director, and Saad Khan, Partner, of CMEA join the company's Board of Directors.

Jobvite provides an on-demand recruitment application that manages the entire recruiting and hiring process. Built on Web 2.0 technologies, Jobvite is radically easy to use for everyone involved in recruiting. Social networking, collaboration and Outlook integration engage all employees productively in their hiring tasks. The Software as a Service application solves the problem of coordinating hiring activities and data across departments, so companies can identify and hire the best people.

Jobvite customers include TiVo, Infinera, SupportSoft, Mattson Technology and Tellme Networks.

"To win the war for talent, companies need to engage all of their employees in recruiting," said Jesper Schultz, Chief Executive Officer of Jobvite. "Our next generation solution instantly allows all employees to be involved. Our customers use Jobvite as a strategic advantage to hire the best people."

"While the enterprise software market continues to experience consolidation, the Software as a Service market is experiencing explosive growth. Jobvite's solution for recruiting and hiring offers a dynamic way to find the most important yet scarce resource of top talent. It will completely change the way companies go about recruiting and hiring," said Jim Watson, Managing Director at CMEA.

"We're very pleased to be working with CMEA as we continue to innovate in the recruitment space," Jesper Schultz continues. "As a partner, CMEA brings deep operating experience that will support our market expansion."

About Jobvite

Jobvite creates recruitment solutions that fundamentally change the way companies hire. We think collaboration, not automation, builds great companies. Our on-demand recruitment application is radically easy to use, so everyone can use it. That brings control, visibility and speed to hiring for companies who need the best people to succeed. Jobvite customers include leading edge companies like TiVo, Infinera, SupportSoft, Mattson and Tellme. For more information, visit Jobvite at www.jobvite.com

About CMEA Ventures

CMEA Ventures (www.cmeaventures.com) is a venture capital firm focused on high technology, life sciences, and energy & materials investments. CMEA believes that the most successful venture backed businesses have extraordinary people and experienced teams intent on winning and building great companies. CMEA invests in both early and late stage ventures, and currently manages six funds representing investments in excess of $1 billion. CMEA has been an early stage investor in many leading Silicon Valley high technology companies including Entropic Communications (ENTR), Flextronics (FLEX), Magma (LAVA), Maxygen (MAXY), Monogram Biosciences (MGRM), Silicon Spice (BRCM), Symyx (SMMX), and Syrrx (purchased by Takeda). CMEA Ventures was founded in 1989 and maintains offices in San Francisco and Menlo Park.

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