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Investment to Support Company's Rapid Growth, Expansion and R&D
DELAFIELD, Wis. and FARMINGTON HILLS, Mich., June 5, 2014 /PRNewswire/ -- Beringea, LLC, a private equity firm providing growth capital to market-leading businesses, today announced its Fund has made a $4 million investment in Montage, a provider of purpose-built video interviewing technology to the Global 5000. Beringea led the $6 million Series C financing round, which also included existing investors Baird Capital, GCI and Calumet Venture Fund. The capital will be used to drive increased global expansion, support overall company growth, and fuel the company's innovative and award winning video interviewing technology initiatives.
"Montage's focus on innovation and client partnerships is driven by their commitment to the candidate experience, and their understanding of how to deliver a compelling value proposition to recruiters," said Mark Donnelly, principal at Beringea. "The company is extremely well positioned to capitalize on the rapidly growing video interviewing sector. We are excited to partner with their exceptional management team in supporting Montage's continued growth."
Montage's purpose-built video interviewing solution elevates the hiring experience by engaging candidates and hiring teams throughout the process, to drive faster decisions and improve quality of hire. Montage delivers the industry's only application that is fully configurable down to the job-question level, transforming the industry's cookie-cutter approach to video interviewing by allowing hiring managers and recruiters to configure their candidate experience and expand the use of video interviewing across their enterprise. The unparalleled simplicity of the company's technology has increased client adoption 4X year-over-year and has secured additional clientele including more than 10% of the Fortune and Global 500.
"The success of our approach is evident in the growing number of clients entrusting Montage with their video interviewing strategy," added Kurt Heikkinen, president and CEO of Montage. "This additional funding underscores the market opportunity and our winning position as a leader in this space," Heikkinen added.
Montage offers the most mature video interviewing solution available, purpose-built to transform the hiring experience one smile at a time. Applying an enterprise software-as-a-service (SaaS) model, Montage is the solution of choice for companies pursuing a hiring advantage. By extending talent reach, elevating employer brand, reducing travel, and minimizing costs, Montage engages candidates and hiring teams throughout the process, driving faster decisions and improving quality of hire. Montage is a recipient of the 2014 HRO Today Tektonic Award for Talent Management. A privately held company, Montage is headquartered in Wisconsin and located on the Web at www.montagetalent.com.
Beringea, LLC provides equity and/or mezzanine debt to small- and-middle market companies. The Firm, which includes Michigan-based Beringea, LLC and its London, UK office Beringea LLP, invests in portfolio companies operating in a range of sectors, including health care, information technology, advanced manufacturing, media and specialized consumer products.
With flexible capital solutions, extensive investing experience and offices in the U.S. and UK, Beringea's team offers its portfolio companies the resources to grow their businesses and create value for stakeholders. For more information, visit www.beringea.com.
In the United States of America, Beringea operates as an SEC-registered investment advisor, Beringea, LLC. In the United Kingdom, this document is issued by Beringea LLP, a firm authorized and regulated by the Financial Conduct Authority. Beringea LLP is a limited liability partnership registered in England and Wales with company number OC342919, and its registered office is at 39 Earlham Street, London, WC2H 9LT, UK. This document is intended solely to provide information regarding Beringea's potential financing capabilities for prospective portfolio companies.
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