U.S.-based rectech startup Gem.com raised $100 million in a Series C funding round at a $1.2 billion valuation to continue international expansion, product innovation for talent marketing, reporting, insights and engagement and deeper ATS integration.
Led by tech-focused VC firm Iconiq Growth, the Series C funding round also saw participation from existing investors Greylock and Accel, and newcomers Sapphire Ventures and Meritech Capital.
With the latest cash injection, total investments in Gem.com come to $148 million since its founding in 2017, according to Crunchbase.
In a blog post, Gem’s CEO and co-founder Steve Bartel listed several ways–for example, hosting events and campus recruiting–to attract candidates and widen sourcing product depth.
“Hiring teams will be able to build talent pools for new roles by searching profiles across Gem and their ATS,” said Bartel whose role involves seeking deeper integration with all major social networks and ATS. “With this funding, we’ll be doubling down on our integrations and unlocking even more simplicity for customers.”
Customizable dashboards will also be rolled out to offer hiring metrics and to add value to the company’s analytics service.
“Users can simplify sourcing work on social sites like LinkedIn or Twitter, build talent pools that sync to their ATS, nurture passive candidates with personalized messages, and leverage analytics to optimize all aspects of recruiting operations. Altogether, Gem becomes the source of truth for all talent relationships, working seamlessly with the rest of the recruiting tech stack–just like Salesforce does for customer and prospect relationships,” said Bartel.
He also noted that the recruiting service is currently serving more than 800 customers, including 100 unicorns, across all industries worldwide. The firm tripled annual recurring revenue, doubled customer-base, and boosted average enterprise deal sizes by 70%.
The new investment will also be used to increase local points of contacts in high-growth regions like Western Europe.