Workable raises $5m, set to be favorite hiring software in the US
Workable, the software of choice for SMBs looking to take their hiring online, has secured $5m of additional funding from its existing investors. Workable enables smaller companies to post to multiple jobs boards, review candidates and schedule interviews.
Workable is persuading people to switch from spreadsheets and email to affordable hiring software. It saw a tenfold growth in revenues last year by putting tools that used to be the preserve of large organizations within realistic reach of SMBs.
Based in Boston, Workable has been adopted by thousands of businesses ranging from car dealerships and health clinics to staffing agencies and tech startups. More than 300 new companies join every month.
“Workable is leveling the playing field in hiring, giving smaller firms the chance to compete for talent,” said CEO Nikos Moraitakis. “Our growth allows us to offer customers the same advantages of scale long enjoyed by larger organizations. With one afternoon and as little as $19, Workable users get a hiring experience that would be the envy of a major corporation.”
Workable’s self-service model, which requires no expertise or training, meets a pressing need for effective hiring tools that save time and money. The Society for Human Resources (SHRM) estimates that companies with fewer than 50 employees are spending $600 per hire, or double the amount spent by organizations of up to 250 employees. SMBs now account for two-thirds of all new hires in the US and even more in Europe.
Workable helps companies promote their jobs, get candidates and hire the right people. Based in Boston and with offices in New York, London and Athens, Greece, Workable is used by SMBs in more than 40 countries. Founded in 2012, it has raised a total of $7.4m of venture financing from Greylock IL (now 83North), the Openfund and angel investors.
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