This story was written by Rafat Ali.
Job search engine SimplyHired, based in Mountain View, CA, has received $4.6 million in a new round of funding, led by IDG Ventures and Foundation Capital. This bring the total money into the company to $22.3 million; previous investors include Fox Interactive Media (NYSE: NWS), that invested $3.5 million in the company in 2006. Since then, FIM launched its own classifieds on MySpace, but went with rival service Oodle to power it. SimplyHired touts that it has been operating cash flow positive for the past four quarters with revenue growth for 16 consecutive quarters. The money will be used to hire and increase headcount from 50 to 80 in 2009 (it has to say that being in the job market), and for international expansion. Besides its own site, the company has focused on powering and distributing job sites for others such as LinkedIn, The Washington Post (NYSE: WPO), CNNMoney, BusinessWeek and Plaxo, among others. Release.
By Rafat Ali