EmployStream, a Cleveland, OH-based SaaS platform for high-volume employers to streamline their new hire onboarding process, raised $1m in funding.
The round was led by JumpStart Inc., via The Health-Tech Corridor Attraction Fund, and North Coast Angel Fund (NCAF). Each organization invested $250,000 in the company, with angel investors—including individual NCAF angels—adding the remaining amount. Mike Marchetti from JumpStart and Alan Brenner from NCAF will join the EmployStream Board of Directors.
The company intends to use the funds to ramp up product development, sales and marketing efforts.
Founded in 2014 by CEO Gerald Hetrick, EmployStrem provides a SaaS-based platform for high-volume employers – including temporary and contract staffing agencies – to streamline their new hire onboarding process, eliminate paper-based tasks, reduce hiring costs and improve each candidate’s experience.