Fountain, a San Francisco, CA-based recruiting platform for gig and hourly workers, closed a $23m Series B funding.
The round, which brought total funding to $34m, was led by DCM, with participation from 51job and existing investors Origin Ventures, Uncork Capital, and others. As part of the financing, DCM co-founder David Chao will join Fountain’s Board of Directors, and DCM partner Kyle Lui will join as Board Observer.
The company intends to use the funds to accelerate product development for existing customers as well as expand its reach across businesses within the restaurant and hospitality industry.
Founded in 2015 by Keith Ryu, CEO, Fountain provides a recruiting platform for gig and hourly workers, specifically designed to solve challenges around high-volume, high-velocity, and high-turnover recruiting within food/beverage, hospitality, and on-demand services.
Customers leverage its technology to streamline the entire candidate recruitment process, from sourcing, screening, interview scheduling, processing background checks, SMS communications, to document signing and onboarding.
The company now processes more than 1 million applications to fill 150,000 hourly and gig positions every month for its customers, including Taco Bell franchisee Golden Gate Bell, Chick-fil-A, Lime, Safeway, and more. Since its inception, Fountain has placed more than four million jobs.