CHICAGO, IL--(Marketwired - Nov 4, 2015) - Yello, the leading web and mobile recruitment platform, today announced it raised $5 million in Series B funding, led by The Argentum Group. Existing investor First Analysis also participated in this round. The funding will be used to deepen Yello's sales, marketing and engineering efforts in the United States and increase its global presence.
In connection with the investment, co-founder and managing partner of Argentum Walter Barandiaran joined Yello's Board of Directors. "Yello is truly an outstanding and innovative technology company, providing creative solutions to the recruitment marketing space." Barandiaran went on to say, "Argentum is pleased to have partnered with Yello's founders, Jason and Dan, and provide them funding to scale operations and solidify the company's position as the market leader in recruiting."
"Yello has achieved significant acceleration of its annual recurring revenue in the last 12 months, validating our initial investment and leading us to continue our support," said Corey Greendale, senior vice president at First Analysis. "Our confidence is furthered significantly by the fact that Yello's customers are truly evangelists for its products, evidenced by contract renewals and the enthusiasm we witnessed at the company's annual client conference."
Founded in 2008, Yello streamlines the talent acquisition experience for recruiters, hiring managers and candidates alike. Yello automates the process of collecting candidate information, marketing opportunities to the right talent, scheduling interviews and evaluating candidates. The product line delivers greater flexibility, connectivity and accessibility throughout the recruitment process. The result is that companies find the right collegiate and professional talent faster.
"We could not be more excited or thankful to our new and existing partners, current clients and staff for the traction we have gained in the talent acquisition community, and the success achieved thus far," said Jason Weingarten, CEO of Yello. "This additional investment is confirmation that we have been -- and will continue to be -- on the right track, building a software solution that provides recruiting departments with true value through never before seen transparency and innovation."
"In leveraging a mobile-first platform, Yello has always been at the cutting edge of recruiting technology and will use this additional investment to fast track the company's development roadmap," said Yello co-founder Dan Bartfield.
About Argentum
Argentum is a New York-based growth equity firm that supports entrepreneurial owners in building industry leading companies. The firm partners with management teams of companies with revenues of $5 to $25 million to provide capital to accelerate growth, fund acquisitions or generate shareholder liquidity. Since raising its first fund in 1990, Argentum has invested in over 75 companies and supported more than 175 add-on acquisitions in technology, healthcare and other high growth service sectors. Learn more at www.argentumgroup.com.
About First Analysis
First Analysis has one of the longest records (30 years) in private capital investing and has invested more than $700 million across 12 funds in three fund families. First Analysis excels at uncovering and leveraging the best opportunities in emerging high-growth segments in technology and health care for the benefit of the investors and growth companies we advise and serve. First Analysis helps established companies become profitable leaders in large markets, funding growth plans and working closely with management in areas including strategy, recruitment, sales and marketing, and corporate development. Its flexible approach targets investing $3-10 million as lead investor or as a syndicate partner who brings valuable perspective to the table.
About Yello
You had me at Yello: Work with the Chicago-based software leader that is radically reinventing recruiting. Employers of all sizes -- from Fortune 500 multinationals and large public sector organizations to high-growth early stage companies -- rely on Yello to manage and mobilize their recruiting processes. Previously known as Recsolu, Yello's considerable experience includes campus, professional, high volume and specialty recruitment. When you're ready to say hello to your next great hire, think Yello. Connect with us on Web | Twitter | Facebook | LinkedIn