This is the second investment out of Sumeru Equity Partners Fund III. In conjunction with the funding, SEP Managing Directors Jason Babcoke and John Brennan and Vice President Kevin Cheng will join Criteria’s board of directors.
The company will use the proceeds from the investment to expand operations and its business reach.
Co-founded by Josh Millet, David Sherman, and Eric Loken in 2006, Criteria provides web-based pre-employment testing solutuons. Its HireSelect® service is a web-based software platform that allows companies to implement an employee testing program, without needing to spend money on costly consulting services. It features employment aptitude tests, employment personality tests, and basic skills tests.
The company currently serves 3,500 active customers who have collectively administered more than 15 million assessments.