EmployStream Closes $3.5 Million Series A Funding Round
Ohio Innovation Fund Partner Jill Raderstorf Joins the EmployStream Board of Directors
EmployStream, the leading provider for onboarding automation to the staffing industry, today announced it has closed a $3.5 million Series A funding round led by JumpStart Inc., with support from several key investors including Ohio Innovation Fund, North Coast Angel Fund and Rev1 Ventures. EmployStream will use the capital to expand its product development, marketing and sales efforts in order to increase its footprint in the staffing industry. The funding will accelerate the company’s growth in the staffing industry, with a plan to expand to other industries with high-volume hiring needs and high turnover challenges.
“This round of investment allows us to add the resources and capabilities we need to meet the rapidly growing demand from the customers and markets we currently serve, as well as bring our offerings to other market segments with similar needs,” said Gerald Hetrick, Chief Executive Officer of EmployStream. “The continued support of the local community, as well as the addition of the Ohio Innovation Fund, are all great accelerators that will set EmployStream on a path to success for the foreseeable future.”
“JumpStart is excited to be leading EmployStream’s Series A financing through our NEXT Fund and also to be partnering with Ohio Innovation Fund, Rev1, North Coast Angel Fund and other investors in this round,” said Rem Harris, senior partner at JumpStart. “EmployStream is yet another example of the great companies developing in Ohio and creating solutions that deliver great value to customers. The company has a bright future and we look forward to their next chapter.”
EmployStream is coming off a strong year of growth in which it began customer acquisition and grew its client roster to more than 100 customers within a year. The company’s success revolves around its unique focus on automating the entire onboarding workflow rather than focusing solely on documents.
In addition to the funding news, EmployStream announced that Jill Raderstorf, partner at Ohio Innovation Fund, will join the company’s board of directors.
“I am thrilled to join the board of an innovator like EmployStream,” said Raderstorf. “The company has a track record of impressive growth over the last few years, and it serves as a great example of the types of firms that are capable of disrupting markets in Ohio and throughout the Midwest.”
EmployStream’s mobile-first mentality allows candidates to access and complete their onboarding experience right from their phone. In addition, integration with multiple necessary third-party services solidifies its standing as the most complete and efficient onboarding solution on the market.
For more information on EmployStream and its onboarding solution, visit www.employstream.com.