The job-posting marketplace ZipRecruiter is returning to the fundraising well for the first time since 2014, authorizing a new round of financing that values the company at almost $1 billion.
ZipRecruiter is raising money for the first time in almost four years
The company is raising $50 million — and that’s likely just the start.
Tao Zhang / Getty Images
The eight-year-old company is slated to raise around $50 million in new capital, according to a fundraising document, and it is in talks to possibly collect even more money beyond that. The current financing authorization would value the company at around $930 million, according to the November filing with the state of Delaware that was provided by Lagniappe Labs, creator of the Prime Unicorn Index.
The identity of the funder could not be learned, but it is believed to be a major financial institution as opposed to a venture capital firm. ZipRecruiter declined to comment.
The company was last valued at $300 million, according to PitchBook, after accepting $63 million in a round led by IVP. The company operated for four years without taking outside funding.
ZipRecruiter faces competition from platforms like Glassdoor, a possible IPO candidate, and Indeed, which has been acquired, but ZipRecruiter claims to have hosted 120 million job seekers. The Santa Monica-based company led by Ian Siegel has close to 1,000 employees.
This article originally appeared on Recode.net.
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