The career site that rewards young professionals with networking points has just advanced to the next level. On Tuesday Identifed announced a $21 million investment round led by VantagePoint Capital Partners and Capricorn Investment Group, which the company will use to enhance the site’s social gaming features and manage its growing database of candidates, employers, and schools.
“We’re redefining professional identity online for a generation of people who have grown up using Facebook, social media and playing games online,” said Brendan Wallace, co-founder and co-CEO of Identified in a statement.
An alternative for young professionals who are too inexperienced to thrive on LinkedIn, Identified pulls basic information from Facebook so candidates can create a more work-friendly profile.
“For young users, job boards and existing professional networking experiences are boring,” Wallace added. “We are committed to building an experience that is incredibly engaging and informative for our users by taking the principles of game design and applying them to managing your career.”
Identify’s scoring system rewards candidates for keeping their profiles current, helping them see how their educational background and work decisions impact their future success at different companies by offering statistics on where people from their schools or with their job descriptions are being hired.
“There is an incredible opportunity for innovation in professional networking,” said VantagePoint managing director Bill Harding, who will join Identify’s board of directors. “With their breadth of data on millennials, Identified has the potential to disrupt professional networking for the young demographic and create valuable solutions for job seekers and businesses alike.”
The site has more than 10 million registered users, 90 percent of whom are under the age of 29. Since January, the number of members between the ages of 18 and 29 years old has increased 525 percent.
Much like LinkedIn, Identfied is working on enterprise solutions for companies including recruiting, branding, sales, advertising, and business intelligence tools.
With the additional funds, the company will will be able to expand its team of more than 50 employees. Specifically, Identified is hiring game designers to work on the user experience and data scientists who can manage the company’s database. In the past, the company has poached employees from top companies including Zynga, LinkedIn, and Salesforce.com.
Launched to the public in September 2011, Identified had previously raised $1.5 million. In addition to VantagePoint and Capricorn, this latest round of $21 million included past investors like Tim Draper, Bill Draper, and Innovation Endeavors.
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