Jibe Raises $6 Million in Series a Co-led by Draper Fisher Jurveston and DFJ Gotham Ventures

Existing investor Polaris Venture Partners also participated

 

New York — May 19, 2011 — Jibe.com, the leading social recruiting platform, today announced that is has closed a $6mm Series A round led by Draper Fisher Jurveston and DFJ Gotham. Also participating in the round was the Stanford University Endowment and Jibe’s existing investors, Polaris Venture Partners, Zelkova Ventures, Lerer Ventures and Thrive Capital. Jibe.com plans to use the funding to build out its engineering team, expand its product to better serve job seekers, and further develop its mobile offerings.

More than 700,000 visitors engaged with Jibe’s social recruiting platform in April, resulting in thousands of interviews. As Jibe’s social platform draws more qualified candidates, a higher percentage of applicants get hired using Jibe than other sites according to hiring company data. In order to apply to a job on Jibe, users must connect with Facebook or login with LinkedIn and are able to select connections to attach directly to their job application. Companies hiring on Jibe include Microsoft, Amazon, Intel, American Express, and Bank of America among others.

“Based on data we have collected from companies hiring on Jibe, applicants from our site are nearly four times more likely to be considered qualified than from any other job board,” said Joe Essenfeld, CEO and founder of Jibe. “Jibe’s mission of using social connections to drive a higher percentage of qualified applicants has enabled us to help top companies successfully expand their workforce and most importantly, help people get hired. We are thrilled to add to our already supportive and experienced pool of investors and to have the resources to help thousands of people land jobs this year.”

“We are very excited about the opportunity that Jibe is addressing at the intersection of social networking and online job search,” said Ross Goldstein, Managing Director and Co-Founder of DFJ Gotham Ventures. “Joe and his team have done a great job attracting marquee customers early on, and we look forward to working with them to build a great company.”

“We continue to be impressed with Jibe’s leadership position in the new era of online recruiting,” said Peter Flint, General Partner at Polaris Venture Partners. “Jibe’s unique approach to technical integration with enterprise clients and simple social application flow has contributed to its significant growth.”

About Jibe, Inc.

Launched in 2009, Jibe provides cloud-based recruiting technology solutions for talent acquisition teams to help them identify, attract and engage candidates. Adopted by many of the world’s top companies — including Accenture, Macy’s and Walmart — the Jibe Recruiting Platform features an analytics engine at its core that pulls recruiting metrics from disparate back-end systems and turns them into insight to guide hiring decisions. The Jibe Platform simplifies job distribution, enables mobile recruiting and optimizes the referral process, significantly improving the candidate experience. Full integration with applicant tracking systems, combined with a SaaS delivery model, provides a seamless solution without disrupting processes or impacting IT resources. Jibe is headquartered in New York City and is backed by top investors, including Longworth Venture Partners, Polaris Partners, DFJ and Gotham Ventures. For more information, please visit www.jibe.com and follow us @JibePR.

About Draper Fisher Jurveston

Draper Fisher Jurvetson (“DFJ”) backs extraordinary entrepreneurs everywhere who set out to change the world. DFJ achieves its mission through its DFJ Global Network of Partner Funds. Together, DFJ and the Network manage over $7B and have made more than 600 investments on four continents. With a 25-year history of success across diverse sectors and market conditions, DFJ has led the way investing in emerging technologies, from the Internet and life sciences to clean energy and nanotechnology.

About DFJ Gotham

DFJ Gotham Ventures is a NYC-based seed- and early-stage venture capital firm that invests primarily in startups focused on innovation in digital and social media, e-commerce, mobile and financial technologies and Internet infrastructure. DFJ Gotham partners with extraordinary teams of entrepreneurs to build strong and successful businesses. DFJ Gotham is part of the Draper Fisher Jurvetson Global Network, the largest venture capital network of funds in the world.

About Polaris Venture Partners

Polaris invests in seed, early stage, and middle market companies in high growth industries. As the lead or co-lead investor, we take an active and long-term role in helping management teams build highly successful businesses. We have over $2 billion under management and current investments in more than 90 companies.