Smashfly sells and Randstad stumbles: news of the recruitment marketing world

November 12, 2019
JobBoardDoctor
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Smashfly If you’re in South America, South Africa, or southern Australia, it’s spring right now. However, if you’re in Iowa (like me), winter has begun. So what better way to cope with the weather than to check out the latest news in the job board and recruitment marketing industry? Let’s see what’s happened lately:

RigUp lands funding: RigUp, an online staffing platform for the energy industry, announced it raised $300 million in a series D funding round. This brings total funding raised by the firm to $450 million. The Austin, Texas-based company matches contract workers with energy companies in the upstream, renewables, midstream and downstream sectors. Gross service volume is estimated to exceed $2 billion. Yow!
DHI earnings up, revenue down: DHI Group Inc.’s third quarter earnings came in at $4.38 million, or $0.08 per share. This compares with $0.93 million, or $0.02 per share, in last year’s third quarter. However, the company’s revenue for the quarter fell 4.5% to $37.18 million from $38.92 million last year. Dice revenues were $22.9 million, down 3% compared to the prior year quarter and down 1% on a sequential basis. Win some, lose some.
Elpha gets seed funding: A hybrid social and professional network, Elpha offers women in tech a dedicated space to communicate via public forums and direct messages, foster relationships and build their careers. The company, which completed YC this summer, announced a $1.1 million round with participation from Y Combinator. The “LinkedIn for women” charges $12,000 in annual subscription fees to companies who use Elpha to identity potential hires. Interesting model.
Randstad stumbles: US revenue growth eased in the third quarter while European growth stabilized, Randstad nv reported in its Q3 earnings release. Third-quarter revenue fell 2.5% year over year on an organic basis at the Netherlands-based staffing giant. Monster revenue fell 15% on an organic basis in Q3 after falling 16% in the second quarter. Hmm.
Coople expands: London-based Coople, an on-demand platform for flexible staffing, has raised an additional funding round of €28.7 million. The firm has raised €68 million in funding to date, making it one of the world’s best funded companies within the flexible job market. The proceeds from the successful Series C round will be used to continue investing in the automation of Coople’s online platform, to further expand within existing markets, and to launch Coople’s business in the Netherlands and one other international market. Impressive.
Smashfly is acquired: Symphony Talent acquired SmashFly Technologies, melding its employer-branding and creative services with its new unit’s recruitment marketing and CRM tools. Symphony Talent said the expanded company is well-positioned for growth among large, global enterprises. Its clients focus on healthcare, retail, FMCG, technology and high-volume hiring, and also includes mid-market companies. It sees SmashFly complementing that lineup with its customers in financial services, professional services, manufacturing and technology. Intriguing.
Fountain raises money: Fountain—a recruiting platform that targets gig and hourly service workers—just closed a $23 million Series B round. Founded in 2015, Fountain was specifically designed to handle high-volume, quick-turn-around and high-turnover recruiting for food-beverage, hospitality and on-demand services firms. Gig stuff still hot, I guess.
capital D invests in VONQ: capital D, a European private equity firm, has acquired a majority stake in VONQ, a recruitment marketing startup that enables companies to bypass traditional recruitment agencies and reach their target talent. The firm has acquired 54 percent of the startup. VONQ’s platform integrates over 2,000 job boards, streamlining recruitment so that corporate recruiters can find the same high-quality talent in less time and with less administrative hassle. Interesting.
Upwork revenue up – again: Upwork reported third-quarter revenue rose 22.9% year over year while gross margin improved. The Santa Clara, California-based company also reported net loss decreased year over year in the third quarter. Upwork also reported gross services volume, which includes both client spend and additional fees charged, increased by 20% year over year in the third quarter to $537.3 million. Impressive.