Total amount raised
$93 Millions
Latest funding date
9/1/2019
Location
HireVue has successfully raised significant funding over multiple rounds, with its most recent investment coming from a Private Equity round led by The Carlyle Group. The company's platform leverages AI-driven video interviews and pre-hire assessments to streamline the hiring process.
Keep reading to explore the intricacies of HireVue's fundraising journey and the investors backing this innovative platform.
What Is HireVue?
Founded in 2004 by Chip Luman and Mark Newman, HireVue is headquartered in South Jordan, Utah. The company specializes in AI-powered hiring solutions, offering services like video interviews and pre-hire assessments to streamline the recruitment process.
HireVue's platform is designed to reduce bias and improve efficiency in hiring by leveraging advanced AI technology. Their solutions include skill validation, intelligent interviewing, and workflow automation, catering to various hiring needs.
With a workforce of 251-500 employees, HireVue continues to innovate in the hiring industry, helping companies find the best talent faster and more effectively.
How Much Funding Has HireVue Raised?
- Series A
- Amount Raised: $1M
- Date: February 2008
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of their AI-powered hiring platform.
- Series B
- Amount Raised: $5M
- Date: July 2010
- Lead Investors: Granite Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and increase market reach.
- Series C
- Amount Raised: $17M
- Date: August 2012
- Lead Investors: Investor Growth Capital Limited
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Series D
- Amount Raised: $25M
- Date: October 2013
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and invest in AI technology.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: April 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their AI-driven solutions.
- Series E
- Amount Raised: $45M
- Date: June 2015
- Lead Investors: TCV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the Team Acceleration software and expand the client base.
- Private Equity Round
- Amount Raised: Not publicly disclosed
- Date: September 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support long-term growth and innovation.
Total Amount Raised: $93M
Current Valuation: Not publicly disclosed
Key Investors
- The Carlyle Group
- Details: The Carlyle Group is a global investment firm that manages assets across various sectors. They acquired HireVue in September 2019.
- Investment Focus Areas: Aerospace, healthcare, technology.
- Notable Investments: Booz Allen Hamilton, Dunkin' Brands, Supreme.
- Technology Crossover Ventures (TCV)
- Details: TCV is a venture capital firm that provides growth capital to technology companies. They led HireVue's $45 million Series E funding round.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Netflix, Facebook, Spotify.
- Sequoia Capital
- Details: Sequoia Capital is a renowned venture capital firm known for investing in early and growth-stage companies. They participated in multiple funding rounds for HireVue.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Apple, Google, LinkedIn.
- Granite Ventures
- Details: Granite Ventures is a venture capital firm that invests in early-stage technology companies. They have been involved in several funding rounds for HireVue.
- Investment Focus Areas: Early-stage technology, software, communications.
- Notable Investments: Tumbleweed Communications, Siebel Systems.
- Investor Growth Capital
- Details: Investor Growth Capital focuses on growth-stage investments across various sectors. They led HireVue's Series C funding round.
- Investment Focus Areas: Growth-stage companies, technology, healthcare.
- Notable Investments: Not publicly disclosed.
What's Next for HireVue?
HireVue stands at the cusp of significant growth opportunities, driven by the increasing adoption of AI and video interview technologies in recruitment. With $45 million in recent funding, the company is poised to enhance its Team Acceleration software, which leverages digital video tools and predictive analytics to streamline hiring processes. This positions HireVue to capture a larger market share as more companies seek efficient and unbiased hiring solutions.
Future fundraising opportunities seem promising, given the strong backing from high-profile investors like TCV and Sequoia Capital. As HireVue continues to innovate and expand its client base, additional funding rounds could further accelerate its growth. However, the company must navigate challenges such as intense competition and the need for continuous technological advancements to maintain its market leadership.
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