The company plans to use the funding to drive expansion in Europe and Asia. Here are the top-line bullets you need to know.
Fountain, an applicant tracking system (ATS) for recruitment, has raised $100M in an extended Series C. The round drew participation from B Capital Group, SoftBank Group, and Uncork Capital, among others.
HOW’S THE COMPANY PERFORMING?
- California-based Fountain offers an ATS specifically designed to help organizations speed up and automate processes surrounding the hiring of hourly workers.
- The company has grown 10x since its Series B round in September 2019. It also tripled its businesses and increased headcount by 300% year-over-year in 2021
- The company’s customer base includes sweetgreen, Flink, Just Eat Takeaway, and Stitch Fix.
- It has overseen the hiring of 2M+ workers across 75+ countries and processed over 68M applications since 2015.
- The startup is supported by a team of 230+ employees globally, including in the US, Spain, the UK, India, and New Zealand.
Source: Fountain
WHY DOES THE MARKET MATTER?
- The global applicant tracking system (ATS) market is expected to reach a value of $3.2B by 2026, growing at a CAGR of 6.7%, according to Markets and Markets.
- A rising focus on improving the candidate experience is contributing to market growth.
- Workers are resigning at a rapid rate, which has compelled organizations to turn to solutions designed to help them quickly fill open positions.
