NEW YORK, NY, Fastest-growing enterprise talent acquisition suite, today announced it has raised $50 million in Series D funding from Riverwood Capital.
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Greenhouse, the fastest-growing enterprise talent acquisition suite, today announced it has raised $50 million in Series D funding from Riverwood Capital. Greenhouse will use this investment to meet growing demand for its platform globally and expand its category-leading capabilities in the areas of recruiting, onboarding, hiring analytics, and diversity and inclusion. Founded in 2012, Greenhouse has now raised more than $110 million.
Today, talent is a company’s greatest asset. As a result, making good hires isn’t just an HR concern anymore – it’s an overall business imperative. This is why more than three-quarters of companies cite hiring and recruiting software as critical in any successful talent acquisition strategy.
“Enterprise businesses compete for the best talent and manage thousands of candidates across their organization,” said Daniel Chait, co-founder & CEO, Greenhouse. “This is why interest in our category has exploded. An optimized recruitment process is a competitive advantage. We built Greenhouse to help companies get better at every area of hiring – from finding the right candidates, to conducting more focused interviews, to making more data-driven decisions.”
“Greenhouse delivers what organizations need today – a smarter way to hire,” said Francisco Alvarez-Demalde, co-founder and Managing Partner of Riverwood Capital. “The company’s software helps enterprise businesses more efficiently and effectively recruit the best talent. We’re impressed by Greenhouse’s technology and their approach to the market and are eager to help them continue to scale.”
Diversity and inclusion are especially critical to successful hiring and recruitment. According to McKinsey, organizations that value diversity outperform those that don’t. Their latest research shows that companies in the top quartile for ethnic diversity are 33% more likely to see higher-than-average profits than companies in the lowest quartile. This is why the number of executives who cite inclusion as a top priority has grown 32% since 2014, according to Deloitte. Still, half of all employers call their own diversity efforts “weak,” with unconscious bias in the hiring process a common roadblock. Studies confirm, for example, that white candidates see significantly higher callbacks for job interviews, compared to Black and Latino candidates with identical resumes.
“Diversity isn’t just a box to check in HR,” said Maia Josebachvili, VP of Marketing & Strategy, Greenhouse. “Leading organizations see diversity and inclusion as critical to every part of their business. It enhances employee engagement, improves reputation and boosts revenue.”
To help organizations unlock the value of diversity and inclusion in hiring, Greenhouse recently launched Greenhouse Inclusion, in partnership with Paradigm. Trusted by leading tech companies and many of the Fortune 500, Paradigm takes a data-driven approach to diversity and inclusion to design and execute high-impact D&I strategies. Greenhouse Inclusion is designed to help companies operationalize behavior change and mitigate bias during the hiring process to build stronger, more diverse teams. The solution was developed in collaboration with academic and industry diversity and inclusion experts from Pinterest, Stanford University, and others.
“Smart leaders are committing to building diverse and inclusive businesses,” said Chait. “As a member of the Founders for Change coalition, we are proud to value diversity and inclusion, and we are very excited with our Inclusion product.”
“Greenhouse Inclusion improves and standardizes the way organizations operationalize recruiting with structured hiring, which addresses unconscious bias at every turn,” added Josebachvili. “It helps scale and evaluate an inclusive hiring process.”
“Greenhouse’s current product suite and its vision for the future can become a key tool for companies globally to attract and compete for the best talent, building better, more diverse, and committed teams,” said Alvarez-Demalde.
“Riverwood Capital is the perfect partner,” added Chait. “They understand our vision for Greenhouse, the opportunity we have to continue growing in North America and globally, and the potential of our expanding talent acquisition suite. They bring unique expertise in scaling and growing technology businesses. This was an important consideration for us as we met with firms.”
Greenhouse has seen enormous demand globally, with more than 2,500 customers using the platform in over 50 countries. The company will deploy its latest round of capital to fund additional growth across enterprise clients both domestically and abroad. The round will also be used to fund investments in R&D to continue innovating its products.