Candidate Labs Places 125th Hire and Achieves Profitability, Growing 30% Month over Month

Candidate Labs, a modern search firm built as a technology company, has placed more than 125 professionals at high-growth startups including more than 25 at Andreessen Horowitz-backed companies since launching in June 2020. By combining expert search professionals with a machine learning platform, Candidate Labs is delivering unmatched hiring results for its more than 75 clients, has quickly become the #2 recruiting firm on G2 Crowd, has grown revenue 30% month over month to more than $5M and is now profitable.

“The candidates we saw were really high quality. 9.5 out of every 10 candidates they showed us, we did a screen with, and from there, the likelihood of us bringing a candidate on-site was higher than I’ve seen with other firms or with inbound candidates. We were able to hire two people from a standing start within 45 days and have since hired 9 of 12 go-to-market team members through Candidate Labs over the past 18 months,” said Josh Wetzel, CRO of OneSignal, the market-leading customer messaging and engagement solution.

“We looked to Candidate Labs to scale up our GTM team and have made 10 hires across several sales roles in 91 days,” said Jaakko Iso-Järvenpää, VP of Sales and Customer Success at Airbase.

“We worked with four or five different recruiters for the various go-to-market roles that we were hiring for, and Candidate Labs consistently brought the most quality candidates,” said Chris Lee, Head of Sales, North America at Deel who has hired three sales managers and an SDR with Candidate Labs.

HR Technology News: National Association Of Workforce Boards Launches AI-Powered Career Navigation And Learning Platform

FJ Labs, Salesforce Ventures and Dozens of Founders Invest in Candidate Labs

Candidate Labs announces today that it has raised additional capital from FJ Labs, Salesforce Ventures, Uncommon Capital, and dozens of talent leaders, revenue leaders, and founders – including Jack Altman, Jamie Quint, and Keller Rinaudo.

“People have all kinds of ideas about what scaling a startup is really like, but it turns out it’s mostly just full time recruiting,” said Lattice CEO Jack Altman. “Candidate Labs is solving this painful problem, ensuring founders can more successfully scale their go-to-market organization.”

“We enable technology companies to scale more effectively through consistent delivery of the right hire at the right time. Our unmatched results have led to rapid growth, with over 90% of our new clients coming to us as referrals and over 72% of revenue coming from repeat business. We’re rapidly scaling our own organization to meet this demand in major markets across the country,” said Candidate Labs CEO and Co-founder Jonathan Downey.

HR Technology News: Deluxe Announces Collaboration With Microsoft To Provide HR, Payroll, Accounting Tools For Small Businesses

Candidate Labs Plans to Grow Team 3x

Candidate Labs is profitable and will use the investment to quickly double the size of its search organization to keep up with client demand, which has exceeded the firm’s capacity for six months straight. The company also plans to triple the size of its product and engineering team as it expands its technology platform with additional capabilities for employers and candidates.

To support the company’s ambitions to scale rapidly while creating a best-in-class place to work, Candidate Labs announces today that Amanda Townsend has joined its leadership team as VP of People. Amanda has served as a global leader in people operations at multiple high-growth technology companies, where she leads HR, DEI, L&D, and workplace experience. She was previously the VP of Global People Operations at Fivetran, where she supported the company’s growth from 60 to 500 employees in just under three years.

The Candidate Labs team looks like the technology companies it serves, combining software developers, PhD’s, and talent professionals. The company has attracted top search professionals from leading search firms to join Candidate Labs, where they are closing more deals, making more money, and gaining equity in a venture-backed company.

“Candidate Labs’ tech enables me to cut my sourcing time in half, which allows me to reinvest my time in the what I care most about — having conversations with candidates about how we’re going to get them to their next career move,” said Jaycie Moller, Client Partner at Candidate Labs.

HR Technology News: Local Governments Refocus Spend On Workforce And Technology