Toronto's ClearFit Raises $7 Million Series A Round

Posted by Knowlton Thomas

Toronto-based ClearFit, a company that makes it easier to hire the best people, announced today that it has raised $7 million in a Series A round. The funding round was led by GrandBanks Capital and Relay Ventures.

ClearFit believes it addresses a $60 billion "underserved market," delivering a tailored hiring solution to construction, retail, restaurant, hospitality, and franchise customers. The company previously raised $1.7 million in late 2012 with investments from Relay Ventures and a group of prominent Toronto investors.

More than 8,000 businesses use ClearFit, the company says, including the hiring forces behind McDonald's Ford, and DHL Express. ClearFit’s patented software uses data analysis to predict employment success five times better than traditional hiring, according to the company.

“We’ve experienced incredible growth this year and we’re scaling ClearFit to keep up with demand,” says Jamie Schneiderman, cofounder of ClearFit. “Scaling this quickly would be impossible without our own product to help us find the best people for our culture.”

ClearFit also announced that Tim Wright, a partner with GrandBanks Capital, will join the company's board. Wright has over 20 years of operating experience in various technology industries.

“Small businesses are inadequately served by large, enterprise hiring software. ClearFit puts enterprise-class capabilities within reach and tailors them directly to the needs of small business owners,” says Wright. “They are addressing a massive sector of the economy that does not have a capable solution.”

Company:
Relay Ventures
Website:
http://www.relayventures.com
Location:
Toronto, Ontario, Canada

Relay Ventures is an early stage venture capital firm that invests in passionate entrepreneurs disrupting and creating new markets through mobile technologies. Unlike other funds, Relay exclusively focuses on software for mobile devices and the connected Internet, creating an unparalleled set of networks and resources that tangibly help founders build world-class companies. With offices in Menlo Park and Toronto,... more

Company:
ClearFit
Website:
http://clearfit.com
Location:
Toronto, Ontario, Canada

ClearFit is the first online service that matches people and employers using experience and personality, which is the most valid predictor of job success. Try it for free: http://clearfit.com For employers, hiring can be a real pain, especially for smaller businesses. So, we make hiring easy by automatically (i) finding them candidates, (ii) identifying the best ones, based on personality and experience, and... more


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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing tennis, hiking, and exploring weird side streets. more




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