Author: Alongside, press release
Image Source: Alongside
Funding led by 500 Global with follow-on from NBIF will help Alongside equip job seekers with
the tools to reach the career destinations of their dreams.
MONCTON, NB - Alongside, an HR tech startup that helps create a more human connection
between employers and job seekers, raised $8 Million CAD in growth financing. The round was
led by San Francisco-based venture capital firm 500 Global with participation from previous
investors, including New Brunswick Innovation Foundation (NBIF), as well as capital financing
from TD Bank Group.
The funding comes as the global HR tech market continues to grow and as opportunities arise
to create better experiences for job seekers. Alongside firmly believes that job seekers deserve
a better experience and that in order for a truly great hire to be made, the person applying
must be empowered with the tools, support, and guidance to land the job. Over the next 12
months, Alongside will be continuing to grow its position as an industry leader that removes
the barriers for job seekers and supports businesses in making the right hire.
Part of the funding was used to strategically acquire one of Canada’s leading job boards,
CareerBeacon. Now, the Alongside team is using the funding to modernize, differentiate, and
innovate its product to guide and support job seekers through every step of their career
journey. This includes finding their first job, levelling up their career, and creating a career path
they are excited about.
“Our team at Alongside has always been passionate about helping job seekers connect to
meaningful work. Job boards have been one area where the experience does not live up to job
seeker expectations, which is why we decided to acquire CareerBeacon as an initial step
towards our bolder vision. That vision is to revisit and rethink every aspect of the job seeker
journey and make sure that we are doing everything in our power to improve the experience
for job seekers in their quest to find life-changing career opportunities. Part of this vision also
means guiding employers in attracting, hiring, and onboarding the people who will transform
their organizations, " said Yves Boudreau, CEO and Co-founder of Alongside. "This funding will
help us continue to make our vision a reality.”
“We’re excited to be part of Alongside’s journey as it helps connect companies with job
seekers,” said Tim Chae, Managing Partner at 500 Global. “In the current environment, where
companies are focused on attracting and retaining top talent, and workers are looking to
advance their careers, we see a growing opportunity for technology-enabled services to
improve the job-seeking and recruiting process. We believe Alongside is well-positioned to
establish itself as a leader in this space, and we look forward to partnering with Alongside’s
impressive management team, led by Yves.”
“It’s inspiring to see one of our long-standing portfolio companies make such a bold strategic
acquisition,” said Ray Fitzpatrick, Director of Investments at NBIF. “Yves and Benoit are resilient
and visionary entrepreneurs who stay focused on their mission to change the dynamics of the
HR tech industry. Usually, our start-ups are the ones that get acquired and not the other way
around. Alongside has shown there is more than one way to obtain growth in the NB Tech
sector, which may be paving the way for future start-ups looking to go down this path.”
Additional investors in the round include Sparkland Capital, Gerry Pond, Bob Justason,
LongShot Capital, Leslie MaGee, Jim English, and Mike Tilley.
About Alongside
Founded in 2014, Alongside is a Moncton-based human resources technology (HR Tech)
company working to create a more humanized hiring experience by providing employers and
job seekers with detailed insights, sophisticated communication tools, and easy-to-use job
posting distribution. For more information, please visit future.alongside.com
Media Contact:
Emily Brennan
emily@emilybrennan.ca
506-229-4637