Leading SaaS provider experiences continued growth in revenue, customers, and employee headcount
HRchitect featured iCIMS in our release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems vendors that businesses should consider. Adam Feigenbaum and Susan Vitale from iCIMS previously appeared on the HRchitect WebMingle.
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iCIMS, a leading provider of Software-as-a-Service (SaaS)talent acquisition software solutions for growing businesses, released the company’s 2012 half-year results, reporting a strong increase in revenue and client acquisitions, enabling surging growth within the company. During this time period, the organization also earned a number of third-party awards for its best-of-breed flagship product, the iCIMS Talent Platform.
Year to date, the company generated an impressive 22% increase in revenue by comparison to the first six months of 2011. A driving force behind the positive revenue recognition has been a significant number of new client acquisitions. In the past six months, over 200 organizations have signed on to use iCIMS’ talent acquisition software. By the end of quarter two, iCIMS had already surpassed the number of clients signed during 1H 2011 by more than 45%. Client growth was most pronounced in the energy and retail business sectors, with customers such as rue21, Inc., PowerStream, and TAS Energy, Inc. implementing iCIMS’ recruitment technology. As compared to 1H 2011, new sales in energy increased by 50% and new retail clients were up by 33%. The enterprise business segment also flourished, tripling the number of acquired customers versus 1H 2011; Hooters of America, LLC and PAE Group being just two of the many larger organizations among the new business wins.
“Over the past 13 years, iCIMS has evolved from a small start-up to a commanding force in the talent acquisition solution space, validated by increased revenues and client acquisitions,” said Colin Day, Chief Executive Officer, iCIMS. “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 concluded.
The robust increase in both revenue and client base has helped fuel growth in iCIMS’ employee headcount as well. As of the end of June, the company had increased new staff by 140% versus 1H 2011 hires. In order to accommodate for the expansion of staff and to support future strategic growth plans, earlier this year iCIMS relocated the company’s corporate headquartersfrom Hazlet, NJ to a nearby class “A” building in Matawan, NJ. The new office space provides enough room for iCIMS’ 200+ employees with additional space to support anticipated increases in full-time staff in the coming years.
iCIMS’ rapidly growing footprint in the talent acquisition solution provider space and corporate commitment to providing technologies that are keeping pace with the social and mobile landscape have earned the company numerous award recognitions in 1H 2012. In May, iCIMS was recognized by Network Products Guide’s 2012 Hot Companies and Best Products Awardsas Best IT Product and Service for Retail for the second consecutive year. Highlighting iCIMS’ unwavering dedication to providing an outstanding customer experience, the company also was named a Stevie Awards Bronze Winner for Customer Service Department of the Year in the Computer Software category this past March.
In addition to growth in revenue, clients, and employee headcount, iCIMS also received a boost of momentum at the beginning of 2012 that has supported the company’s continued success. In January, iCIMS secured a $35 million minority growth equity investment from Susquehanna Growth Equity (SGE), LLC. Before this investment capital, the company had been self-funded since it was founded in 1999. Year to date, iCIMS has focused on increasing investments in marketing, product development, and acquisitions.
During this period of rapid growth at iCIMS, specific importance was placed on ramping up the speed of development for innovative social and mobile pre-hire solutions. Within the February11.3 Talent Platform release, Social Resume and Social Apply functionality debuted. Social Apply enables candidates to quickly and easily upload their LinkedIn or Facebook profile data during the online submission process, while Social Resume allows recruiters to gain access to dynamic online resumes within one system. By pairing extended social recruiting capabilities with mobile accessibility, iCIMS is helping HR operations become more streamlined, pervasive, and easier for both recruiters and applicants. The upcoming 12.1 release, which will launch later this month, will further enhance the mobile accessibility and social functionality of the iCIMS Talent Platform.
“From exciting new product development to record new sales, iCIMS has momentum on its side,” said Day. “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,” Day concluded.
For more information on iCIMS, please visit www.icims.com
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