Jobcase Closes $100 Million Growth Equity Round Led by Providence Strategic Growth
BOSTON, Feb. 27, 2019 (GLOBE NEWSWIRE) -- Jobcase.com, an open-access platform dedicated to empowering people in their work-lives, has closed a $100 million in growth equity round led by Providence Strategic Growth (PSG). PSG is an affiliate of Providence Equity Partners L.L.C., a global private equity and credit investment firm with $57 billion in capital under management. The new funding will accelerate product development and services for Jobcasers (Jobcase members) via internal growth and/or strategic acquisitions. Some enhancements include, but are not limited to, sophisticated machine learning architecture that will better serve relevant content to Jobcasers, product development to increase ease of connections and community building and new integrations and APIs that enable Jobcasers to more easily promote themselves and better engage with employment opportunities.
“We are proud to help expedite Jobcase’s mission to empower people in their pursuit of a happy and meaningful work-life,” says Mark Hastings, PSG CEO. “Jobcase’s unique approach that prioritizes community has catapulted the company to its position as an industry leader. The company is well positioned to fulfill the pressing need for connection in this space both domestically and abroad.”
Recently ranked as the fourth largest online destination for career resources in the USA, Jobcase serves more than 100 million registered members with over 25 million unique active Jobcasers visiting the site each month. In addition to direct services offered on Jobcase.com, Jobcase technology powers over 100 career-related sites. Jobcase is a Kendall Square-grown company that has doubled in the last year to nearly 200 employees – all single-mindedly dedicated to the mission of empowering workers.
“We are thrilled to have PSG as a partner that understands people need not navigate the future of work alone,” Fred Goff, Jobcase Founder and CEO stated. “At its core, Jobcase is a platform where people help people. Often, the future of work can be intimidating to individuals. Jobcasers stand stronger together. If you care about other people, drive your own work-life success, and believe that workers should be treated as well as stockholders or customers, then you are a Jobcaser too – Come join us!”
Jobcase’s legal counsel was provided by Goodwin Procter LLP; PSG was advised by Weil, Gotshal & Manges LLP. Jobcase has previously enjoyed support from Link Ventures, Savano Capital Partners, and PSG.
The Jobcase mission is to empower the world’s workers. Jobcase.com is the free open-access social media platform where over 100 million registered members manage all aspects of their work-lives. Jobcase technology also powers over 100 job sites and many non-profit driven activities via its Jobcase network. Jobcase has emerged as one of the fastest growing technology companies in Boston and is an industry-affiliated partner of MIT’s Computer Science and Artificial Intelligence Laboratory, CSAIL. Jobcase also provides pro-bono services for non-profit organizations who share in their mission of empowerment, such as the Chicago Urban League. For more information, visit www.jobcase.com or contact LaunchSquad for Jobcase.
About Providence Strategic Growth Capital Partners L.L.C.
Providence Strategic Growth (“PSG”) is an affiliate of Providence Equity Partners (“Providence”). Established in 2014, PSG focuses on growth equity investments in lower middle market software and technology-enabled service companies, primarily in North America. Providence is a premier global asset management firm that pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm’s inception in 1989, Providence has invested in more than 180 companies and is a leading equity investment firm focused on the media, communications, education and information industries. Providence is headquartered in Providence, RI, and also has offices in New York and London. For more information on PSG, please visit https://www.provequity.com/private-equity/psg, and for more information on Providence, please visit www.provequity.com.
PR Contact:Danielle Tobonidtoboni@launchsquad.com
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/414086e2-4604-42f2-959b-4b26ba85d1fa