2013 - Press Releases
RealMatch Raises $7 Million to Accelerate Disruption of the Online Recruitment Advertising Market
NEW YORK, NY--July 22, 2013 – RealMatch, the leader in performance based recruitment advertising, announced today it has raised $7 million in Series C venture capital financing led by Edison Ventures with participation by existing investor, Carmel Ventures. This round of investments will reinforce RealMatch’s mission to make online recruitment advertising a unique and lucrative revenue stream for online publishers, an efficient and results-driven process for employers, and a simplified, easy-to-use experience for job seekers.
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RealMatch is disrupting the highly fragmented online recruitment industry by building the largest and most effective recruitment advertising network that now reaches over 100 million active and passive job seekers monthly across thousands of job sites and social networks. RealMatch’s performance-based network is able to achieve up to 4 times more qualified response to job postings compared to the leading national job boards. This uplift in performance is attributable to the company’s proprietary technology including Real-Time Job Matching™, automated network optimization, and ad targeting capabilities which are fully integrated with the network and with RealMatch’s white-label job board platform.
“RealMatch’s potential in the online recruitment advertising industry is almost limitless. Our job matching and network optimization technologies are representative of the next technological revolution in the online recruitment space. This round of funding will help us as we accelerate our market leadership” says Gal Almog, founder and CEO of RealMatch.
David Nevas, Principal, who led the investment on behalf of Edison Ventures noted, “By reducing inefficiencies in the recruitment advertising market through its matching and distribution technologies, RealMatch has been able to drive a true win-win-win solution by improving the job search process for candidates, increasing monetization for publishers, and offering more targeted and effective solutions for advertisers.” The company is rapidly growing the network through partnerships it has established with leading digital publishers, media companies, and stand-alone job boards who turn to RealMatch to power their job boards and job distribution. The superior white-label solution allows RealMatch partners to better monetize their audience with recruitment advertising while offering employers and job seekers a more efficient way to connect—within their community and across the Internet.
“RealMatch brings a disruptive solution to the robust market of online recruitment that is estimated to be worth over $7 billion annually," added Ronen Nir, General Partner, Carmel Ventures. "We are committed to continuing our support of RealMatch, and are excited to be joined by Edison Ventures, which brings significant added value to the company."
In response to how the company intends to use the funds, Ezra Sofer, Chief Financial Officer at RealMatch added, “We are experiencing a strong demand for our products and unparalleled offering. We will use the proceeds to continue our growth in all fields of operations, including investment in research and development, sales and marketing to develop new products, increase our positioning in the market place and gain market share through new customer acquisition.”
About Edison Ventures
Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison provides capital and value-added services to late stage ($5 to 20 million revenue), information technology businesses. Initial investments range from $5 to 10 million. Edison typically serves as sole or lead investor. In addition to providing expansion capital, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s investment professionals are based in Lawrenceville, NJ, New York, NY, McLean, VA, Needham, MA, and Cleveland, OH. Industry specialties include Financial Technology, Healthcare IT, Interactive Marketing and eCommerce and Enterprise 2.0. Edison’s successes include Best Software, Cambridgesoft, Dendrite, Gain Capital, Liberty Tax, M5, Magnetic, Marcam, Mathsoft, MediaBrix, Neat, NetProspex, Octagon, PlumChoice, Tangoe, Virtual Edge, Visual Networks, Vocus and many other information technology leaders, which have a combined market value exceeding $5 billion. Edison Ventures currently manages over $700 million and actively making new investments. For more information on Edison Ventures, please visit www.edisonventures.com and follow us on Twitter @edisonventure.
About Carmel Ventures
With over $600 million currently under management, many successful exits, and a growing portfolio of promising start-ups, Carmel is among Israel's top-tier venture capital funds. Founded in 2000 by pioneers and leaders of the Israeli high tech industry, Carmel provides significant capital and active, hands-on support through the growth cycle of its portfolio companies and is recognized as a true company-building fund in Israel. Carmel, headquartered in Herzliya, is a member of the Viola Group, Israel's premier technology focused Private Equity group with $2B under management. For more information, please visit www.carmelventures.com.
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