CareerArc, a global leader in HR technology, announced it raised a $30 million growth equity round led by PeakEquity Partners. The company, founded in 2009, will use the investment to fund an aggressive expansion plan to support product innovation and accelerate sales and marketing efforts.
“This investment and the support of the team at PeakEquity Partners should allow us to accelerate our growth, expand product offerings, and strengthen our market position,” said Robin D. Richards, CareerArc CEO and Co-Founder.
“We believe this transaction will enable CareerArc to build on its long history of providing innovative HR technology solutions, leverage its strong SaaS technology platform, and continue to grow share in a multi-billion dollar addressable market,” said Ric Andersen, Partner of PeakEquity.
CareerArc combines social recruiting and virtual outplacement solutions to help organizations, including many of the Fortune 500, maximize their employment brand.
“We are excited to partner with the team at CareerArc for the next stage of their growth. CareerArc has a seasoned executive team led by co-founders that have partnered together in their last three companies and have a 20-year working relationship,” said D.J. Andrzejewski, Partner of PeakEquity.
Robert Michalik, Managing Director of founding lead investor Kinderhook Industries, LLC said, “We are pleased to welcome PeakEquity Partners into the CareerArc family and believe with this substantial new insertion of capital that CareerArc will accelerate its market-leading position.”