CHICAGO – November 24, 2014 – First Analysis, a leading private growth-equity investor, has made a new investment in Chicago-based Recsolu, a provider of software-as-a-service solutions for recruiting college talent. The $6 million round, led by First Analysis, will support Recsolu’s continued growth by enabling the company to expand its leading share in the college graduate recruiting market, as well as extend its offerings to the broader professional recruiting market. Previous investor Generations Capital also participated in the round.
Recsolu’s platform automates key choke points in the recruiting process, including collecting candidate information and resumes, marketing job openings to prospective hires, scheduling and conducting interviews, and aggregating and sharing evaluations. Recsolu is the leader in the campus, diversity, and event-based recruiting space, with a mobile solution that allows employers to seamlessly manage the entire process of recruiting talent from colleges and universities. The company offers a robust event management and scheduling platform, a candidate relationship management system, and a marketing automation platform.
First Analysis Senior Vice President Corey Greendale commented, “A number of factors are driving talent acquisition and development to the top of the strategic priority list for enterprises of all sizes. Talent shortages in crucial areas and shifting power from employers to employees with high-demand skills are increasingly turning labor into a seller’s market. Corporate leaders know talent is more important than ever, and legacy HR systems and structures are often insufficient. We were very impressed with Recsolu’s cutting-edge solution and market traction, with a remarkable roster of more than 50 Fortune 500 clients across a broad range of industries. That traction speaks highly of the power of Recsolu’s solution in enabling employers to compete for, attract, and select high-performing talent. It positions the company well for strong growth as a key weapon in the burgeoning war for talent.”
“Recsolu and its exceptional team, led by co-founders Jason Weingarten and Dan Bartfield, earn high praise from their clients,” First Analysis Managing Director Jim Macdonald said. “We look forward to helping the company further its leadership in the university and diversity recruiting arenas and expand its offerings."
Recsolu CEO and co-founder Jason Weingarten said, “We view First Analysis as an outstanding partner. They’re thought leaders in our market and bring a wealth of experience working in the human capital technology sector for more than a decade. It’s a great vote of confidence to have their backing, and we’re excited to leverage their energy and insights to further propel our strong growth.”
“We’re thrilled to add a respected firm like First Analysis to the fold,” added Recsolu COO and co-founder Dan Bartfield. “We look forward to leveraging their investment and expertise to build our product, sales, and service teams and offer customers more options in the professional recruiting space.”
First Analysis Senior Vice President Corey Greendale and Managing Director Jim Macdonald will join Recsolu's board of directors.
Recsolu is the leading web and mobile recruitment software and services company. Since its founding in 2008, Recsolu has established client partnerships with more than 100 major employers globally to support their talent sourcing and recruiting strategies.
About First Analysis
First Analysis has one of the longest records (29 years) in private capital investing and has invested more than $700 million across 12 funds in three fund families. First Analysis invests in high-growth sectors where its expertise and differentiated research approach drive success: health care, technology/SaaS, services, and clean-tech/chemicals. First Analysis helps established companies become profitable leaders in large markets, funding growth plans and working closely with management in areas including strategy, recruitment, sales and marketing, and corporate development. Its flexible approach targets investing $3-10 million as lead investor or as a syndicate partner who brings valuable perspective to the table.
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First Analysis invests in Recsolu - November 2014