RippleMatch Raises $6 Million to Make Finding Your First Job About Who You Are Rather Than Who You Know
Series A Funding Round Led by G20 Ventures
NEW YORK, Sept. 9, 2019 /PRNewswire/ -- RippleMatch, a leader in data-driven university recruiting, announced it has secured $6 million in Series A funding, led by Boston-based G20 Ventures. The round, which closed August 8, 2019, included New York-based Work-Bench and previous investors Accomplice, Bullpen Capital, and AlleyCorp.
RippleMatch helps companies who care about candidate quality and diversity source the right people for their early career hiring, delivering better candidates in less time and at lower cost than traditional collegiate recruiting programs. In a job market too often driven by surface credentials, alumni loyalties, and parental networks, RippleMatch collects deep preference information on location, career path, and company culture from both candidates and employers. These preferences - comprising over 300 proprietary data points - enable sophisticated matching by attributes that encourage job success and employee retention, while delivering on diversity goals across racial, gender, and socioeconomic lines. 60% of candidates matched with an employer through RippleMatch receive a first-round interview.
"Our goal is not just to encourage diversity, though that's certainly important to our customers," said Eric Ho, RippleMatch CTO and Founder. "We actually want to increase meritocracy... to find the best person for every job regardless of the zip code they grew up in, their level of SAT preparation, or where they could afford to go to college."
The company has compiled deep attribute and preference data across a broad and diverse candidate pool, including:
- 800+ of America's finest colleges and universities
- 68% of candidates from underrepresented backgrounds
- 26% of graduating Ivy League seniors
- Average GPA of 3.5
- Average SAT percentile of 97%.
"Andrew and Eric are smart young entrepreneurs, and the progress they've made building an exciting business in a short time is remarkable," said Mike Troiano, Partner of G20 Ventures. "One reason is the strong sense of mission that pervades this whole team, a sense that they can serve their customers, their candidates, and their country by transforming early career hiring from a process driven by who you know into one powered by who you are. We could not be more pleased to support that effort."
"Most people have the sense that university recruiting is broken, whether they're a student struggling to find the job they went to college to get in the first place, or a hiring manager chasing recruiting targets while trying to read the tea leaves of another shallow but artfully packaged LinkedIn profile," said Andrew Myers, RippleMatch CEO and Founder. "We're grateful for the financial backing of this great group of investors, but even more excited to have this great group of people so firmly behind the mission that powers this company."
"Companies are realizing that the status quo doesn't work when it comes to finding the best students," said Jessica Lin, Work-Bench Co-Founder and General Partner. "By using RippleMatch, they are finding the right talent, attracting candidates from more diverse backgrounds, and increasing access to opportunity. That's a mission we are excited to support."
About RippleMatch:
RippleMatch helps students on over 800 college campuses find jobs. The company uses technology to connect students with the right opportunities regardless of who they know or where they go to school. By automating the most time-intensive parts of university recruiting, RippleMatch helps employers who care about candidate quality and diversity make their recruiting process fair and effective. To learn more about how RippleMatch is changing the way companies like Pfizer, TripAdvisor, and Qualtrics hire, visit RippleMatch.com today.
SOURCE RippleMatch
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