Matawan Software Company Reports Record Earnings
The software-as-a-service company moved to Matawan in March and reports strong continued growth
The software-as-a-service company iCIMS reports record growth over the last six months, particularly in the areas of revenue, customers, and employees, according to a press release from the company.
iCIMS CEO and Founder Colin Day began the software-as-a-service company 1999 in Hazlet, as a spin off of Comprise Technology. The goal of the company remains the same, to make recruiting job candidates and onboarding new employees extremely efficient for growing companies. iCIMS grew too large for their Hazlet location, and moved to 90 Matawan Road in March 2012.
According to the release, year to date iCIMS generated a 22% increase in revenue in comparison to the first six months of 2011. The company credits their growth to a significant increase in new clients, with over 200 organizations signing up to use their talent acquisition software in the last six months. iCIMS reports that they gained the most clients from the energy and retail sectors, with a 50% increase in energy clients and a 33% increase in retail clients compared to the first half of 2011.
In turn, the increase in revenue and clients has prompted iCIMS to hire more employees. The company has grown by 140% when compared to its size in the first half of 2011, according to the release. The new location in Matawan also accounts for the company's anticipated continued growth.
"The results from the first half of the year further illustrate the company's determination to continue to be a top choice of organizations for their sourcing, recruiting, and onboarding needs. No matter the size of the company or industry in which they operate, iCIMS is delivering exactly what clients are looking for: simple-to-use, social- and mobile-enabled solutions backed by outstanding customer support," Day said in the release.
iCIMS attributes some of their momentum this year to a $35 million minority growth equity investment from Susquehanna Growth Equity, LLC. Previously, the company had been self-funded, according to the release.
iCIMS also focused on developing their software further, releasing a new version of their talent platform in February that focused on enabling candidates to share resumes more easily through LinkedIn and Facebook and enabling recruiters to access resumes from several platforms in one place. The company plans to roll out a new update next month, according the release, that improves mobile accessibility and social functionality.
"While we hold fast to our core values of customer orientation, scalability, and ease-of use, we are ramping up our delivery of game-changing 2.0 social and mobile technologies that will help our customers stay ahead of their competition," said Day.