- Fresh off growth equity transaction, SaaS HR solution provider significantly grows client base and staff; accelerates investment in product development -
MATAWAN, N.J. (April 5, 2012) – iCIMS, a leading provider of Software-as-a-Service (SaaS) talent acquisition software solutions for growing businesses, released its Q1 results, reporting major client growth in small business and mid-market segments. This growth is indicative of the expansion forecasted in early 2012 when the company announced that it secured a minority investment from Susquehanna Growth Equity, LLC.
New subscriptions grew by more than 100% versus Q1 2011, with particular strength in new customer acquisitions in the healthcare, energy, and retail verticals. Results compared with Q1 2011 metrics are as follows:
• A 71% increase in healthcare clients signed
• A four-fold increase in energy clients signed
• Double the number of retail customers signed
Some top names among iCIMS’ new clients include: Hooters of America, LLC, Therapeutic Alternatives, TAS Energy Inc., and Sunbelt Rentals, Inc. Another noteworthy achievement was marked by a 55% increase in new small business customer acquisitions and a 50% gain in mid-market clients as compared to 2011.
To accommodate the needs of iCIMS’ growing client base, in Q1 iCIMS released version 11.3 of its flagship product, the Talent Platform. This new release features Social Apply and Social Resume, which allow candidates to apply for positions using their social media profiles and enables recruiters to view candidates’ dynamic resume details within the applicant tracking solution. When paired with iCIMS’ Social Recruit technology, clients can easily post jobs to hundreds of social media outlets with a click of a button. Additionally, iCIMS rolled out a newly integrated I-9 and E-Verify solution for clients leveraging its Onboard product. The technology powers automated and paperless preparation, signing, management, auditing, and storage of I-9s forms, as well as automatic E-Verify submission.
To support its aggressive growth trajectory, the company plans to invest further in marketing, product development, and personnel. In Q1 alone, iCIMS filled more than 30 positions, a 60% increase from Q1 2011 and a 14% increase from the staff count in Q4 2011. The new hires are concentrated in the company’s technology, marketing, and account management departments. To accommodate current and future staff as well as the organization’s expected growth plans, iCIMS relocated the corporate headquarters to a larger, “Class A” facility in nearby Matawan, NJ in March.
“The impressive stats that we have attained in quarter one are not just great start to the New Year, but are also an amazing introduction to our new home here in Matawan,” said Colin Day, Chief Executive Officer, iCIMS, Inc. “The competitive landscape has changed, but our results this quarter illustrate clients’ continued interest in easy-to-use, best-of-breed Talent Acquisition software that is backed by a commitment to an excellent customer experience. With a start like this, we’re optimistic this will be iCIMS’ best year yet,” Day concluded.