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HireVue Founder: When It Comes to Raising Money, 'No' Doesn't Mean 'Never'
Nine years into building his fast-growing company, which has quadrupled its head-count over the past two years, Mark Newman sounds exhausted and a little giddy: like a man who's just finished his first marathon, or who's been handed $25 million bucks.
The latter's nearly true. Newman's company, HireVue, announces Wednesday that it's raised a fresh round of funding led by Sequoia Capital, with participation from existing investors. The new round almost doubles the venture capital invested in the company; previously, three rounds of funding had amounted to $28 million.
Newman founded HireVue in in 2004 in Salt Lake City with the idea of turning the computer webcam into a sophisticated hiring tool. Today, it offers a suite of sophisticated technologies aimed at making a range of human-resources tasks simpler and more intuitive. It's also extending into the realm of employee-management and employee-interaction, setting it apart further from video-conferencing tools such as Skype, and other competitors, including Interview Stream and Spark Hire.
Employee-search and on-boarding is its specialty, and HireVue--a�2013�Inc.�30 Under 30 honoree�that also made the�Inc.�500 list�of fast-growing companies--is no stranger to growing pains as it's been scaling head-count in recent years. (Sixty percent of the company's 140 employees are based in Salt Lake City, but the others work remotely.) It's planning on using the new cash infusion to hire even more.
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