Ripple Recruiting Raises $700,000 In Funding Round Led By MongoDB And Business Insider Founder Kevin Ryan
Startup founded by two Yale undergrads shakes up the way employers hire college students
NEW YORK, Nov. 30, 2016 /PRNewswire/ -- Ripple Recruiting, a hiring platform connecting top employers with top students, has closed $700,000 in seed funding. The round will allow Ripple to continue its Ivy League expansion and grow its team as it seeks to displace much larger players in the college recruiting market.
"Ripple is having exceptional success fixing a major pain-point for both companies and students," said Kevin Ryan, who has founded multiple companies including MongoDB, Business Insider, Gilt Groupe, Nomad Health, and Zola.
With Ripple, students fill out data profiles that reveal academic achievements, professional experiences, and career preferences that they would hesitate to share on a more public platform like LinkedIn. Companies then use Ripple's SaaS platform and customized scouting reports to find and contact the students that are the best matches for job and internship openings.
Ripple's targeted approach comes at a small fraction of the cost of the traditional on-campus recruiting model, and gives startups, midsize companies, and nonprofits a chance to compete alongside the larger firms that typically dominate Ivy League hiring. This concept has taken off with students, and over 10% of Ivy League undergraduates have signed up for Ripple this semester alone.
The journey from college dorm room to startup has required commitment for Ripple Co-Founders Andrew Myers and Eric Ho. Andrew left Yale before his senior year to work on Ripple full-time, and Eric turned down a job offer from Facebook. Both founders say their decision was made easier by a desire to fix a process that was letting down their friends.
"Our student sign-up growth is the result of not only our product, but of a system that is fundamentally broken," said Myers. "Employers lack the tools to target hires remotely and build the kind of relationships that can lead to hiring success. As a result, students are funneled toward limited options that often fail to harness their strengths and passion."
In the last three months, the company has brought on customers ranging from nonprofits to Fortune 500 companies. Bryan Sohn, a recruitment manager for Teach for America, notes that "Ripple has been an incredible asset in our efforts to network with the most exceptional, mission-aligned student leaders on campus."
For the two young founders, Ivy League expansion is just the first step. "Our technology, combined with our understanding of college students, gives us a shot to build something that can transform the hiring process for students and companies alike," Ho said. Ripple will begin its national expansion in early 2017.
About Ripple: Ripple is a hiring platform designed to transform the $25 billion college recruiting market. The company connects top employers with top students and provides a SaaS platform that allows companies to find, target, and hire college students in a more efficient way. Learn more at ripplerecruiting.com.
SOURCE Ripple Recruiting
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