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News and Information Article
- New Round to Fuel New Product Development and Further Market Expansion -
MOUNTAIN VIEW, Calif., Sept. 6 // -- Trovix Inc., a leading
provider of intelligent search technology, today announced that it has
raised $13 million in its Series B financing. The financing was led by
Granite Ventures, a leading early-stage technology venture capital firm
based in San Francisco, and also included participation from Trovixs
existing investors, U.S. Venture Partners (USVP) and 3i.
"Trovixs intelligent search technology is best in class and has the
potential to redefine the $35 billion recruiting industry," said Standish
OGrady, Managing Director and Co-Founder of Granite Ventures. "The rapid
adoption of Trovix Recruit by industry leading organizations like Palm is a
testament to its ability to quickly match the most qualified candidates to
open positions."
Trovix will leverage the infusion of capital to boost new product
development and market expansion efforts. With the close of this round,
Trovix has raised $18.25 million since inception. The companys initial
funding of $5.25 million was announced in December 2005. Since the
companys official launch in December, Trovix has signed many notable
clients including Stanford University, Palm, Juniper Networks, Sanmina-SCI,
and VMware.
"The marketplace for employment is inefficient, and anyone whos looked
for a job or tried to hire someone knows how much time you spend looking at
job listings or resumes that just dont fit," said Jeff Benrey, CEO and
Founder of Trovix. "Weve developed technology that solves this problem,
and our clients use this to identify and hire the best candidates in their
applicant pool. With our investors backing, were developing intelligent
search technology that will significantly improve the way companies go
about identifying and recruiting the best talent available."
About Granite Ventures
Granite Ventures has been helping early-stage technology companies
build solid foundations for success since 1992. They focus their
investments in two sectors where their partners have deep domain expertise,
broad industry knowledge, and significant investment experience:
communications and components, and software. Granite has managed over $1
billion in venture capital and has invested in more than 90 private
companies. They partner with promising and successful entrepreneurs to
create businesses that have a competitive edge, and help those businesses
achieve category leadership. For more information, visit
http://www.granitevc.com.
About USVP
U.S. Venture Partners (USVP) invests in a broad range of early-stage
information technology companies, including those involved in wireless, IT
infrastructure, semiconductors, and enterprise and technical software.
Representative USVP public companies are: Sun Microsystems, SanDisk, AMCC,
Verity, Check Point Software Technologies, MMC Networks, 3Dfx, Leadis,
Nuance Communications, Centillium, Crescendo Communications (Cisco),
Elantec (Intersil), StrataCom (Cisco), Xylan, Blue Coat Systems and Concur.
For more information, visit http://www.usvp.com.
About 3i
3i is a world leader in private equity and venture capital. 3i focuses
on Buyouts, Growth Capital and Venture Capital and invests across Europe,
in the United States and in Asia Pacific. 3is competitive advantage comes
from its international network and the strength and breadth of their
relationships in business. Since its inception, 3i has invested over $32
billion worldwide and has a total staff of 750 employees operating in 14
countries. In the U.S., 3i invests in both early and late stage technology
companies in the software, communications, semiconductor and healthcare
sectors. For more information, visit http://www.3i.com.
About Trovix Inc.
Trovix Inc. is a leading provider of intelligent search technology. Its
first product, Trovix Recruit, combines intelligent, personalized search
technology with a full-featured applicant tracking system to help companies
recruit the best talent available faster, reduce their cost-per-hire, and
streamline their workflow. Trovix customers include successful and growing
ventures such as Palm, Stanford University, Linksys, Juniper Networks,
VMware and Rambus. Headquartered in Silicon Valley, Trovix is backed by
top-tier venture capital firms including 3i, Granite Ventures and USVP. For
more information, visit http://www.trovix.com.
Trovix and Trovix Recruit are trademarks of Trovix Inc. Other product
and brand names are trademarks or registered trademarks of their respective
owners.
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