New Unicorn: Fountain

June 16, 2022
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The American startup Fountain became a unicorn this Wednesday, June 15, following its series C. It raised $100 million to reach a round value of $1 billion, the main investor was the investment fund B Capital Group.

What is Fountain?

Fountain is a human resources company with a focus on recruitment. Its software helps companies with recruitment from start to finish. This starts with optimized sourcing, parameters created to simplify the search according to the type of job but also the possibility to send job offers such as Indeed via the software in a few clicks.

The application also automates a maximum of tasks, whether it is contracts or the collection of personal information of candidates. In addition to this, the application offers the possibility to organize the recruitment process and the necessary documents for each job.

All this allows recruiters to avoid wasting time on repetitive tasks and to focus on the candidates themselves.

An opportunity to expand

With this $100 million, Fountain intends to move forward. The strategy is to offer its services especially in Europe and Asia. The startup also intends to further develop its products. To do this, the goal is to employ 100 more people by the end of 2022, but their knowledge in the field may facilitate the task. The company is aware that today 2/3 of HR departments still use "traditional", handwritten methods to finalize recruitments and that task automation software has a great future ahead of it.

Human resources revolutionized by tech

Fountain is the 39th unicorn in the human resources space, the field is growing rapidly as 28 of these unicorns have reached a valuation of $1billion in 2021 or this year. For Fountain, this is due in particular to Covid, which has greatly changed the world of employment and trends that are moving towards an increasingly hourly workforce. It represents 70% of the total workforce currently in the world.

By
Dorian
Analyst
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