June 11, 2013
InternMatch, an online platform that helps students find internships and companies hire talented students, today announced a new $4 million Series A round of funding led by Artis Ventures and Subtraction Capital, including new investments from previous investors 500 Startups, Kapor Capital, Rudy Gadre, and others.
Along with the new funds, San Francisco-based InternMatch is also adding Paul Willard as a board member. Paul is a former product and marketing leader at many successful technology companies including Atlassian, Practice Fusion, and Coupons.com.
Despite previous minimal funding, InternMatch has quickly grown to a dominant position in the college hiring market. The platform now sees more than 650,000 unique students each month, a number that has doubled in the past four months, and more than 150,000 applications, a number that has quadrupled in this same time. This high volume of activity provides unique insight into how Millennials are starting their careers, information InternMatch aims to use to improve the hiring process for both students and employers.
“One of the largest pain points for students is discovering what opportunities exist and where they have a legitimate chance of success,” said InternMatch CEO, Andrew Maguire. “We are building recommendation tools that help students discover new internships and jobs based on interest, as well as understand where students like them have succeeded in the past.”
InternMatch is also tackling the issue from the other direction, building out a database of students, which will be searchable by employers who want to hire candidates proactively. “The prevalence of online job applications means it’s easier than ever to send resumes, but harder for employers to filter through the noise,” Maguire said. “We are launching new discovery tools that help employers find students similar to previous hires and deliver a unique, targeted message conveying their employment brand.”
InternMatch will use the funding to expand their team, continue to build the marketplace, and invest in developing data-powered technology.
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