Built In, a Chicago-based tech-recruiting platform, has raised a new round of funding as it prepares to expand to more cities and double its local headcount.
The tech company announced Tuesday that it raised $22 million in a Series C round led by Updata Partners, a venture capital firm in Washington, D.C. Chicago-based MATH Venture Partners also participated in the round, as it has been a consistent investor in Built In since 2015.
As part of the deal, Updata’s General Partner Carter Griffin is joining Built In’s Board of Directors.
"The market opportunity ahead of Built In is incredibly exciting, based in part on a set of favorable business and macroeconomic trends," Griffin said in a statement. "In addition to low unemployment and the continued growth of the tech sector, more companies than ever are undergoing digital transformations to stay competitive."
With this latest financing, Built In has now raised nearly $30 million in total, according to data from Crunchbase. And according to Pitchbook, Built In’s Series C round is the second-largest round of funding raised by a Chicago tech company led by a woman CEO.
Originally founded in Chicago in 2011 by Maria Christopoulos Katris, Built In now operates in seven cities. Other than Chicago, it has a presence in Austin, Boston, Colorado, Los Angeles, New York and Seattle. The company says it has more than 1,800 customers, which range from startups to Fortune 50 companies. Additionally, Built In says it connects with more than 1 million tech professionals each month.
The tech company currently employs 100 people across all of its markets and said it will use part of its new funding to double headcount at its Chicago headquarters over the next 12 months. Built In also plans to launch in San Francisco later this year.
In an article Built In published Tuesday, it said it is developing a “matching engine” that will allow users to discover tech companies whose values align with their own. For example, users will be able to search for startups that claim they put an emphasis on family-friendly or diverse work environments. Built In said it is also building a professional development platform to help tech workers learn from each other.
"When we first invested in Built In in 2015, they were a small team with a very big vision," said Troy Henikoff, the managing director of MATH Venture Partners, in a statement. "It is rare to see a company thoughtfully transform and consistently deliver best-in-class KPIs and growth with so little outside capital. Maria and her team consistently deliver to their customers, users and investors, and I could not be prouder to partner with them on this journey."
