Fountain, an all-in-one applicant tracking system, has announced $85 million in Series C financing, led by SoftBank Vision Fund 2* with participation from B Capital Group and Mirae Asset Venture Investment, and existing investors DCM, Origin Ventures, Commerce Ventures, SemperVirens Venture Capital and Uncork Capital.
With the Series C, Fountain has now raised $119 million to date. Fountain will use the new funding to continue to invest in innovation of its hiring platform, as well as to grow its sales and engineering teams and its operations and presence in EMEA and APAC regions.
“With labor acquisition being one of the top challenges companies face today, Fountain provides an all-in-one hiring platform to help enterprises streamline their hiring for high volume, hourly workers,” said Andrew Zloto, Director at SoftBank Investment Advisers. “We are delighted to partner with Sean and the Fountain team to support their mission of helping companies find and hire the right people quickly to meet today’s labor needs.”
“Many companies are struggling to hire hourly workers, which number around 82 million and represent more than half of all wage and salary workers in the US alone,” said Sean Behr, CEO of Fountain. “Fountain’s solutions have enabled businesses to make more than two million hires so far in 2021 by simplifying, optimizing and automating as much of the candidate journey as possible to decrease time-to-hire.”
“The hiring of both hourly and gig workers have become mission-critical to companies worldwide. Fountain solves this problem by automating every stage of the hiring process, from recruiting to onboarding, which significantly reduces time-to-hire. B Capital Group is excited to work with Sean and the team at Fountain to support customers in this fight for talent, not just in the US, but globally,” said Sami Ahmad, General Partner at B Capital Group.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.