Press Contact: Chris Higbee
801.415.9485 | chigbee@hirevue.com
HireVue Secures $5 Million in Series B Funding
Granite Ventures Leads Investment; Managing Director Chris Hollenbeck Joins Board
SALT LAKE CITY, Utah - (Business Wire) July 27, 2010 - HireVue, Inc. (http://www.hirevue.com) the premier provider of video interviewing and decision management solutions announced today the closing of its Series B financing totaling $5 million. The round was led by new investor, Granite Ventures, with participation from previous investors, including JCP Capital.
"The perfect hiring process should be empowering to a company and its candidates rather than feeling like a necessary burden," says Mark Newman, CEO and co-founder of HireVue. "HireVue makes this possible and we are excited to partner with a firm of Granite's caliber to help us build on that vision."
HireVue pioneered the concept of web based, video-driven interview and decision management solutions to hire top talent. Over the past 12 months HireVue has increased sales over 1200% and more than doubled its client base with companies such as PNC Bank, Dow Jones, CDW, Petco, and others.
HireVue's solutions include both one-way virtual and four-way live video interviews that are recorded to the HireVue system and used to screen candidates in the hiring process. HireVue's proprietary candidate evaluation tools are used to easily compare, contrast, and assess candidates in a way unlike anything available in the HR technology space today.
"We invested in HireVue because they not only have a proven business model, but some of the most passionate customers I've ever come across," said Chris Hollenbeck, Managing Director of Granite Ventures. "HireVue has the power to revolutionize hiring as we know it. We fully expect to see HireVue become a standard work application in the coming years."
HireVue also announced that Chris Hollenbeck will join its Board of Directors. Mr. Hollenbeck is currently a Director of companies such as Convio (NASDAQ:CNVO) and Decision View among others. He sponsored Granite's investments in personalized job search firm Trovix which was acquired by Monster Worldwide (NYSE:MWW) in 2008 as well as Digimarc (NASDAQ:DMRC), and Vignette prior to its acquisition by Open Text (NASDAQ:OTEX). Mr. Hollenbeck was a member of the Boards of AvantGo prior to its acquisition by Sybase (NYSE:SY), Episodic prior to its acquisition by Google (NASDAQ:GOOG), and of Liquent prior to its acquisition by Information Holdings (NYSE:IHI).
About Hirevue
HireVue is the world's leading online video interviewing and decision management solution. The HireVue platform allows employers to conduct and capture video interviews over the Internet to better recognize and hire top talent. Employers like Wal-Mart and PNC Bank use HireVue to capture video interviews from all over the world, eliminate interview scheduling, reduce costs, and improve the candidate and hiring manager experience. Used in over 110 countries, HireVue combines superior service with superior solutions to power any video used in the hiring process anywhere in the world. HireVue is the recipient of the prestigious HR Product of the Year for 2009 awarded by Human Resources Executive® Magazine. For more information please visit http://www.hirevue.com or call (800) 655-4106.
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About Granite Ventures
Granite Ventures has helped early-stage technology companies build solid foundations for success since 1992, when they began investing as the early-stage venture capital group within Hambrecht & Quist. Granite became an independent firm in 1998, but continues to leverage decades of investment and technology experience to benefit and create value for their portfolio companies. The Firm focuses on investments in sectors where their partners have deep domain expertise, broad industry knowledge, and significant investment experience. Granite manages over $1 billion in venture capital and has invested in more than 90 private companies. They partner with promising and successful entrepreneurs to create businesses that have a competitive edge and achieve category leadership.
