CEIPAL Secures $16.5 Million in Series B Funding, and an Additional $4.5 Million in Debt Financing, Closing at $21 Million in Total Funding1 year ago Tata Teja
Camden Partners Leads Series B Funding Round for Industry Leading Talent Acquisition Automation Platform
June 16, 2022, Rochester, NY – CEIPAL, the industry-leading AI-powered talent acquisition platform, announced it has closed its Series B funding round, led by Camden Partners. CEIPAL secured $16.5 million in its Series B round with an additional $4.5 million in debt financing for a total of $21 million in funds. Topmark Partners, Evergreen Mountain Equity Partners joined this round along with existing investors, Mistral Venture Partners and Resolve Growth Partners.
“Over the last several years, we’ve delivered innovation after innovation to Recruiters, Hiring Managers, and HR professionals by harnessing the power of AI to ensure that no talent is left behind,” said CEIPAL Founder and CEO Sameer Penakalapati. “Our latest funding round will ensure we continue driving and expanding our global footprint. I want to thank Camden Partners, whom I’ve found to be an ideal fit for CEIPAL – both financially and culturally – and the perfect partner to have led this round of funding, along with all our other investors, who have helped us reach this important milestone.”
CEIPAL plans to use the funding to fuel its regional market expansion, particularly within the US, UK, and India, where CEIPAL is used by more than 120,000 recruiters and enjoys a 97-percent customer satisfaction rating. The company also has plans to enhance its extensive product capabilities and grow its customer base among staffing businesses, systems integrators, and corporate organizations.
“We know that talent is the greatest asset of any business, and we believe that CEIPAL has built the world’s most innovative, intuitive, and engaging software platform for hiring managers, recruiters, HR teams, and procurement teams to manage the entire talent acquisition lifecycle,” said Jason Tagler, Managing Partner of Camden Partners, who will join CEIPAL’s board of directors as part of this investment. “We’re thrilled to be working with Sameer and the entire team at CEIPAL. We’re excited to support their mission to deliver global solutions to meet the challenges associated with solving today’s talent shortage and building tomorrow’s workforce.”
CEIPAL has a global team of 450 employees with leadership teams in the U.S. and India with plans to grow to more than 1000 global employees in the next 12 to 18 months. In the past 18 months alone, CEIPAL has expanded its product portfolio by adding a sleek and integrated VMS platform, ProcureWise, to consolidate full-time workforce and supplier workforce needs into CEIPAL’s single talent acquisition platform. CEIPAL + ProcureWise enables customers to seamlessly integrate their full-time and contingent workforces, bringing substantial cost savings, while allowing organizations to fill open positions faster than they ever dreamed possible. This is a game-changer for total talent visibility, cost efficiencies, and talent planning.
Additionally, CEIPAL has continuously grown its AI (artificial intelligence) for recruiting capabilities with advanced ATS (applicant tracking system), CRM (customer relationship management), WFM (workforce management), and DEI (diversity, equity, and inclusion) technologies. CEIPAL also offers its customers advanced text recruiting capabilities and advanced business intelligence features. CEIPAL’s mission is to continue delivering the world’s most advanced talent acquisition automation platform and enabling customers to acquire and manage the best talent across geographies and sectors.
CEIPAL is an AI-powered SaaS platform that provides full-lifecycle management of the talent acquisition process. Our system leverages advanced technology to analyze vast amounts of candidate and employee data, providing actionable insights for meeting hiring goals and executing talent strategies. With robust solutions for pipeline curation, candidate engagement & marketing, applicant tracking, and workforce management, CEIPAL helps staffing firms, MSPs, and corporate hiring teams of all sizes to attract and retain the best available talent. CEIPAL was founded in 2015 and served 2,000+ customers and 120,000 recruiters globally.