ERIN Technologies raised a $5M round with plans to triple headcount

ERIN Technologies, a North Shore-based startup, is starting October with a $5 million raise from a Reformation Partners-led financing round.

After a year of 350% growth in which the employee referral platform maker brought in its largest pool of customers to date, CEO Mike Stafiej told Technical.ly that now was the right time to start conversations with interested investors. After considering a few different VCs, Stafiej said that New York-based Reformation Partners accompanied by participating funds BlueTree VC of Wexford, Grouse Ridge Capital of Butler and LabCo NYC, a previous investor, was ultimately the best match.

“Growth over the last year has been incredible. ERIN is now the employee referral platform for over 1.5 million employees in 100 countries” Stafiej said. “This round of funding will allow us to keep up with market demand, drive innovative new features, and continue to provide world-class support to our customers.”

ERIN — aka Employee Referral Invitation Network — makes an app that allows users to, as its name suggests, automate employee referrals. The app includes features such as giving users the ability to track which employees are active within a company’s talent acquisition initiatives, which ERIN says can lead to more referrals and therefore more hires.

In the last year, the 2018-founded startup saw nearly 1 million employee users join its platform which, its CEO reported, brings the company’s user count to 1.5 million in 100 countries and 13 different languages.

So, what’s next? According to Stafiej, the company plans to use the funding to continue expanding, add more features to its app, increase its sales and marketing efforts, and bring on more staff. Currently the company has about 15 full-time employees, all of whom are based in Pittsburgh. By the end of year, Stafiej said the plan is to bring on 10 new employees. Most of those new hires will be filling roles in areas such as customer success and support to sales and marketing. In the new year, the company will hire 25 additional employees.

Although the plan is for ERIN Technologies to get larger, Stafiej told Technical.ly that the company’s future will always be in Pittsburgh. Its mission is to continue to make life easier for employees and hiring teams.

“We’ve worked with talent acquisition leaders around the world to solve two key problems with our product: employee engagement and employee referral management automation,” Stafiej said. “We are laser focused on providing efficiency for talent acquisition teams, and more importantly, providing an experience that encourages employees to actively participate in recruitment.”