ATLANTA, April 18, 2011 /PRNewswire/ -- Croft & Bender, an Atlanta-based investment banking and private equity firm, is pleased to announce the successful completion of a $27 million Series C private equity capital raise for its client, SnagAJob.com, Inc. The funding was led by August Capital, a Silicon Valley-based venture capital firm whose partners have been founding investors in companies such as Microsoft, Sun Microsystems, and Skype. Existing investors Adams Street Partners, Baird Venture Partners, and C&B Capital also participated in the round, which closed on March 2, 2011.
Headquartered in Richmond, Virginia, SnagAJob is the nation's largest online community of hourly workers and the leading provider of workforce management solutions created exclusively for hourly employers. The Company has demonstrated impressive growth over the past five years, growing revenue over 475% and increasing website traffic almost 800%. In addition, SnagAJob has built a community of nearly 28 million hourly workers, growing by over a million workers every 60 days. Current clients span a wide range of industries and include DISH Network®, Captain D's®, Verizon Wireless®, FedEx®, Chick-Fil-A®, Bed Bath & Beyond®, Michaels®, and Jiffy Lube®.
Croft & Bender was retained as the exclusive financial advisor and placement agent to SnagAJob in the capital raise. "We have appreciated our partnership with Croft & Bender over the last five years (since our Series A financing). They have consistently provided sound advice and were the logical choice to help us evaluate various partners to lead our Series C round. We are thrilled with the result and excited to have chosen August Capital," said Shawn Boyer, SnagAJob's Chief Executive Officer.
"We are very fortunate to be involved with a company like SnagAJob. Its track record is truly impressive and we look forward to continuing to be a part of its growth," commented Steve Tye, Managing Director of Croft & Bender.
About Croft & Bender
Croft & Bender LLC, based in Atlanta, Georgia, is an investment banking firm focused on providing M&A, private equity, and financial advisory services to middle-market and emerging growth companies. The firm also sponsors the C&B Capital growth equity funds, with $44 million under management. For more information on Croft & Bender, visit www.croft-bender.com.
Media Contact: Ed Croft and Ted Bender at (404) 841-3131.
SOURCE Croft & Bender LLC