Total amount raised
$188.6 Millions
Latest funding date
Location
SeekOut has successfully raised significant capital through multiple funding rounds, with the latest being a Series C round. The company is backed by prominent investors including Crew Capital and Tiger Global Management.
Continue reading to delve into the details of SeekOut's funding journey and the strategic investors supporting its growth.
What Is SeekOut?
Founded in August 2016, SeekOut is headquartered in Bellevue, Washington. The company was established by Anoop Gupta, Aravind Bala, John Tippett, and Vikas Manocha.
SeekOut offers an AI-powered talent sourcing solution that helps Talent Acquisition teams recruit hard-to-find and diverse talent faster. Their platform integrates external data with HR systems to build comprehensive employee profiles and provides unique sourcing solutions for various industries.
With a team of 101-250 employees, SeekOut continues to innovate in the talent acquisition space, offering tools that include diversity filters, personalized messaging, and data-driven insights to help organizations build winning teams.
How Much Funding Has SeekOut Raised?
- Seed Round
- Amount Raised: $2.2M
- Date: November 2016
- Lead Investors: Mayfield Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and validate the business model.
- Series A
- Amount Raised: $6M
- Date: May 2019
- Lead Investors: Madrona
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $65.4M
- Date: March 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: $500M
- Motivation Behind the Round: To continue growth and development of the platform, which had already shown significant revenue and customer base expansion.
- Series C
- Amount Raised: $115M
- Date: January 2022
- Lead Investors: Tiger Global Management
- Valuation at Round: $1.2B
- Motivation Behind the Round: To invest deeply in innovations that extend SeekOut's leadership position in talent acquisition and to develop new solutions for internal mobility, employee retention, career pathing, and learning and development.
Total Amount Raised: $188.6M. Current Valuation: $1.2B.
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a leading global investment firm that focuses on private and public companies in the technology sector. They have a history of backing high-growth startups and established tech giants.
- Investment Focus Areas: Technology, Consumer, Software.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Madrona Venture Group
- Details: Madrona Venture Group is a venture capital firm based in Seattle, Washington, that invests in early-stage technology companies. They have a strong focus on the Pacific Northwest region.
- Investment Focus Areas: Cloud Computing, AI, SaaS.
- Notable Investments: Amazon, Smartsheet, Redfin.
- Mayfield Fund
- Details: Mayfield Fund is a venture capital firm that invests in early-stage technology companies. They have a long history of supporting innovative startups.
- Investment Focus Areas: Enterprise Software, Consumer, Health Tech.
- Notable Investments: Lyft, Poshmark, SolarCity.
- Founders Circle Capital
- Details: Founders Circle Capital specializes in providing growth capital to technology companies. They also offer liquidity solutions for employees of high-growth companies.
- Investment Focus Areas: Technology, SaaS, Fintech.
- Notable Investments: DocuSign, Twilio.
- Crew Capital
- Details: Crew Capital is an investment firm that focuses on supporting innovative technology companies. They aim to partner with entrepreneurs to build transformative businesses.
- Investment Focus Areas: Technology, Consumer, Enterprise Software.
- Notable Investments: Not publicly disclosed.
What's Next for SeekOut?
SeekOut is poised to capitalize on the evolving landscape of talent acquisition and management. With the "Great Resignation" reshaping workforce dynamics, the company is expanding its capabilities in internal mobility, employee retention, and career pathing. This shift presents a significant opportunity, as SeekOut's customer base has already doubled to over 1,000 enterprises, including six of the ten most highly valued U.S. companies.
Future fundraising opportunities seem promising, given the company's rapid growth and strong investor interest. However, challenges such as maintaining innovation, ensuring data accuracy, and managing growth effectively will be crucial. As the industry continues to evolve, SeekOut's ability to adapt and lead will determine its long-term success.
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