THE MUSE ANNOUNCES $8 MILLION INVESTMENT LED BY MBM CAPITAL FOR FUTURE OF WORK CONSOLIDATION PLAY
The investment from MBM Capital, founded in 2021 by investors Lauren Bonner and Arun Mittal, is part of The Muse's larger roll-up strategy in the hiring space.
NEW YORK, Sept. 21, 2022 /PRNewswire/ -- The Muse, a values-based job search and career development platform used by 75 million people annually, is proud to announce $8 million in new investment led by MBM Capital, founded and run by managing partners Lauren Bonner and Arun Mittal.
The investment is a result of The Muse's progressive vision to bring together key players in the future-of-work arena.
"Over the past decade, there's been a massive rise in start-ups aiming to fix broken hiring processes across the U.S. and global workforce," says Kathryn Minshew, founder and CEO of The Muse. "As those start-ups have matured, employers have become overwhelmed by the many solutions available to them as they compete to attract consumers who are looking for jobs that are tailored to their unique needs. Today, we're proud to announce this investment from MBM Capital, which we plan to use to continue investing in values-aligned hiring and fund consolidation in the next-gen hiring space."
The Muse, already a known and loved career destination for tens of millions of Gen Z and Millennial jobseekers, will seek out and acquire other deeply loved brands that attract high-demand job seekers. By incorporating these brands into a broader whole, he Muse will grow their jobseeker offerings and value for employers while creating an easier solution to buy.
"The Muse has been a leader in helping employers navigate their hiring needs during an era of unprecedented change in how we work. Partnering with MBM and the consolidation approach allows us to serve employers in a 360-degree capacity," says Dave Bethoney, COO/CFO of The Muse.
"Talent tech is overdue for a roll-up play. As we looked across the space, Kathryn, Dave, and their team at The Muse were simply the best platform to back. We're thrilled for The Muse's next phase," says Lauren Bonner, founding partner at MBM Capital.
"This is a sector we have long followed and we believe The Muse is poised to capitalize on long-term growth in recruiting, hiring and retaining talent," adds Arun Mittal, founding partner at MBM Capital.
As part of this investment, The Muse will continue building out its platform for employers seeking to attract and hire top talent, which is already used by 10% of the Fortune 500. Candidates applying through The Muse are 3X more likely to be hired than candidates applying via legacy platforms, and are also more likely to stay at the companies they join.
"Candidates and companies deserve something better," adds Minshew. "By aligning The Muse's product around a better match, not just a low-cost, high-volume flow of candidate clicks, we're changing the way people hire—and ultimately creating a vastly improved jobseeker experience."
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SOURCE The Muse