RippleMatch Raises $23.5 Million in Funding to Further Fuel Growth as Leading Early Career Recruiting Platform
Company also unveils RippleMatch CRM to help users better track and nurture candidate relationships over time
RippleMatch, the leading early career recruiting platform, announced it raised $23.5M in additional funding. The heavily oversubscribed round was led by Invus Opportunities with participation from Renegade Partners and Gaingels as well as existing investors G20, Work-Bench, Alleycorp, Bullpen Capital and Accomplice.
In addition, the company unveiled RippleMatch CRM, the latest addition to its comprehensive platform designed to help employers hire the right early career talent virtually, build diverse, high performing teams, and improve the candidate experience.
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“This is a special moment in our journey to make early career recruiting more intelligent and efficient, as well as accessible for job seekers from underrepresented educational, racial, and socioeconomic backgrounds,” said RippleMatch CEO Andrew Myers. “The new funding will allow us to continue building out our intelligent hiring platform, empowering companies across the country to understand their data and build a recruiting pipeline that more accurately mirrors the demographics of the broader U.S. population.”
Traditionally, the average enterprise company forms relationships with career services offices on five to 10 ten campuses, inadvertently ignoring talent from the rest of the country. This system has exacerbated a lack of diversity at America’s largest companies; for example, within tech only eight percent of employees identify as Hispanic and five percent identify as Black.1 It has also walled off access to opportunity for students without the money or standardized test scores to attend elite institutions.
Designed for the modern talent acquisition organization, RippleMatch’s intelligent platform for early career hiring serves as the central operating system for recruitment teams. The platform automatically identifies and engages the right candidates from more than 1,300 college campuses, empowering teams to streamline recruiter workflows and use data to inform strategic decisions and measure success. Within one comprehensive platform, RippleMatch offers integrated solutions for early career recruitment teams including candidate sourcing, diversity recruitment, recruitment marketing, employer branding, virtual events, and recruiting analytics.
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Used by leading employers including Amazon, SAP, and eBay to reach over one million job seekers, the RippleMatch platform drives key employer results including:
- 55x more schools reached
- 50% more underrepresented minority applicants
- 3x improvement in brand awareness
“Attracting and hiring student and graduate talent requires being proactive, thinking differently, and building long-lasting authentic connections with candidates. SAP’s daily usage of the RippleMatch platform allows our team to succeed in a 100% virtual environment, reach more candidates, and maximize candidate reach to diverse populations. Their data analytics, event management platform, and true partnership allow us to make strategic hiring decisions,” said Jenn Prevoznik McNamara, Global Leader, Early Career Talent Attraction at SAP.
“2021 has heightened the importance of diversity in the workplace, specifically how to recruit and retain underrepresented talent. We believe that hiring for the future will require rewriting the playbook for how employers can reach early career talent and build diverse, high-performing teams. What makes RippleMatch stand out is their unique approach of automation and data insights to reinvent the recruitment funnel, ensuring reach is maximized, diversity goals are hit, and candidates get the best possible experience,” said Jessica Lin, Co-founder and General Partner at Work-Bench, who will be taking a board seat as part of this funding round.
New RippleMatch CRM tool unveiled
In addition, RippleMatch today unveiled its new CRM for early-career hiring: an intelligent tool that helps employers track and nurture candidate relationships over time. RippleMatch CRM will leverage automation to enable early-career hiring teams to track candidate relationships from initial contact to hire, and nurture those relationships through easy sharing of marketing content, recruitment events, and open jobs.
“As heavy users of RippleMatch’s tools for candidate sourcing and virtual events management, we were thrilled to learn about the addition of a CRM to the platform. Leveraging RippleMatch’s CRM for early career recruitment will make it easier for our team to execute a year-round candidate engagement strategy, and to build talent pipelines for the future,” said Alyson Davis, University Recruiting Lead at Lenovo.