Beringea, a private equity firm in Farmington Hills, has invested $4 million in Delafield, Wis.-based Montage, a video technology firm that provides easy-to-use applications for job recruiters and hiring managers.
“Montage’s focus on innovation and client partnerships is driven by their commitment to the candidate experience, and their understanding of how to deliver a compelling value proposition to recruiters,” says Mark Donnelly, principal at Beringea. “The company is extremely well positioned to capitalize on the rapidly growing video interviewing sector. We are excited to partner with their exceptional management team in supporting Montage’s continued growth.”â€¨â€¨
Founded in 2007, Montage allows recruiters to interview job candidates, either one-on-one or panel style, with just an Internet connection and webcam. Candidates can also answer pre-determined questions on their own time by submitting either video- or voice-recorded responses.
The company’s offerings are used by more than 10 percent of the Fortune 500 and Global 500, says Kurt Heikkinen, Montage’s president and CEO.
“The success of our approach is evident in the growing number of clients entrusting Montage with their video interviewing strategy,” Heikkinen says. “This additional funding underscores the market opportunity and our winning position as a leader in this space.”
Beringea’s investment led Montage’s Series C financing round, which raised $6 million and also included Baird Capital, GCI, and Calumet Venture Fund. The capital will be used to drive increased global expansion, support overall company growth, and fuel the company’s technology initiatives.