Spark Hire recently announced a growth equity investment from Boathouse Capital, a Philadelphia-based private equity firm.
The growth capital will be primarily used to further develop the core platform’s technology offering and modernize the go-to-market strategy.
Spark Hire’s video interview platform helps its customers boost efficiency, collaboration, and structure in the hiring process.
The most popular feature of the Spark Hire product today is its one-way interview solution, which enables job applicants to record video responses to interview questions asynchronously. This empowers organizations to conduct significantly more preliminary interviews while standardizing the process resulting in a better and more fair candidate experience while boosting interview efficiency and effectiveness for the organization.
Boathouse Capital is a structured capital fund focused on providing bespoke capital solutions to high growth and later stage companies in:
- Software / SaaS
- Tech-Enabled Services
- Healthcare IT / Services
The rise of remote work and more distributed workforces has resulted in a growing preference for digestible video mediums. Spark Hire and Boathouse Capital are excited about the company’s future and growth potential given the current industry dynamics.
“We’re excited to be starting this next chapter of Spark Hire’s journey with Boathouse Capital as our partner,” says Josh Tolan, CEO of Spark Hire. “Our shared vision for the future of the business, alignment on growth strategies, and the relationship we’ve built with the Boathouse team, make them the perfect partner for us. We look forward to collaborating with them to not only grow our team and the business, but also to accelerate the development of our product and the value we bring to our customers.”
Chong Moua, Managing Partner at Boathouse Capital, remarked, “Josh and his team have built an innovative and differentiated product within an evolving industry. We are excited about the various growth vectors in front of Spark Hire and look forward to embarking on the Company’s next phase of growth with Josh and his high-caliber team.”