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Simply Hired Reports Gets C$5.1 Million in Investment Capital
Aug 22, 2009 (Close-Up Media via COMTEX) --
Simply Hired, a job search engine, announced that it has secured C$5.1 million of new investment funding from IDG Ventures and Foundation Capital.
Simply Hired noted in an August 18 release that it will leverage the new financing to accelerate international expansion. Specifically, Simply Hired reported it will use the funding to expand product offerings on its Canadian site, SimplyHired.ca.
"Job search is evolving in Canada. Job seekers are looking beyond traditional means of finding employment and adding online resources to their job search strategies. Simply Hired is committed to providing Canadian job seekers with a positive online job search experience through SimplyHired.ca," said Gautam Godhwani, co-founder and CEO at Simply Hired. "IDG Ventures enables Simply Hired to continue to increase its presence in Canada and facilitates our relationship with the global network of 450 IDG online properties."
"IDG Ventures focuses on companies with financial footing that demonstrate differentiated market positioning," said Phil Sanderson, managing director at IDG Ventures. "Simply Hired encapsulates an ideal investment partner, with clearly outlined goals and consistent growth over the past four years. Our relationship with IDG enables Simply Hired to expand its footprint globally."
IDG Ventures is a venture capital firm focused on investing in new media and information technology companies. With C$309.5 million under management, the firm is an independent partnership making investments on behalf of its limited partners.
Foundation Capital is a venture capital firm targeting opportunities in cleantech, consumer Internet and infrastructure; telecommunications and networking; and enterprise software and on-demand services.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
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