Smart Insight, analytics experts and Millennium Search client announced their Series C funding today to the tune of 500 million Yen ($405 million). The funding will focus on strengthening retail and technological efforts with cloud service providers around the globe as well as launching their newest product Mugen with a focus on the US market. According to their offical website, Mugen “enables users to design dashboards on the fly without a single line of code. Self service enables every business users an easier and faster ways to discover relevant insights from all the data without any IT support. Interactive visualization helps slice and dice the data to find relationships, correlations and insights improving the enterprise productivity, scalability and flexibility in data driven decision making.”
Since the company began its own entity in October of 2013 they have been focusing on expanding their business to the cloud and big data markets. The company is led by Kiyoshi Machida and the Series C round of funding was lead by Innovation Network Corporation of Japan.
If you are a sports fan odds are you have had of the daily fantasy leader and Millennium Search client FanDuel. FanDuel was founded in a backyard in Texas in 2009 when 5 co-founders sat around and brainstormed the idea for daily fantasy sports. They later debuted their platform at the 2009 SXSW convention in their backyard of Austin, Texas. Shortly thereafter they hired us to help build their team with top notch talent and have since grown to be the leader in this multi-billion dollar market.
Just a few weeks ago FanDuel raised their Series E round, an astonishing $275 million! With football season right around the corner there will be nothing but more momentum for the company which could lead them into an IPO. In fact, in an offering letter for the Series E round that just closed it stated “This round of funding for FanDuel is expected to be the last capital raise for the company prior to their IPO,”.
This goes to show that having a great product with a world class team equals success. Here at Millennium Search we are the industry leaders of recruiting and as you can see above we build world class teams.
Millennium Search Delivers Top Performers Amid Technology Talent Crunch
The executive search firm for early-stage startups and cutting-edge technology companies continues to deliver much needed talent to VC-backed technology companies.
Charlotte, NC- Millennium Search, the executive search firm for early-stage startups and cutting-edge technology companies, continues to deliver exceptional results for its expanding list of high-growth clients. With the number of startups launching and hiring due to increased seed funding in 2013 and 2014, early and established technology companies alike are finding it increasingly difficult to locate and capture talent. Millennium Search is continuing its 10 year track record of bringing industry leading talent to today’s hottest technology startups and companies.
Founded in 2003, Millennium Search is an executive recruiting firm helping startups, tech companies, and their venture capital investors locate and secure top talent. The recruiting firm is heavily focused on early and mid-stage startups, working with many of the hottest companies and top tier VCs in the industry. The executive search team recruits talent for C-level, management and individual contributor positions across technical, sales, marketing and business functions. 2013 marked the firm’s 10th anniversary of operation.
“There are a lot of companies out there right now with great ideas, solid funding and the potential to really take off, but they are finding it more and more difficult to secure the people they need,” says Amish Shah, CEO and Founder of Millennium Search. “Even their own talent networks are becoming scarce of available talent. They need hiring help from people who know the industry, have the experience, and can create results quickly. That’s why they come to us.”
Clients in the first quarter of 2014 stem from several sectors across the technology industry. include the following. Noteworthy clients include the following: VideoBlocks, a royalty-free online stock video platform; E*Trade, a leading self-directed online investment, trading and retirement platform; Fronto, the reward discovery app for mobile users; Robert Bosch, the multinational engineering and electronics company; Fanduel, the leading daily fantasy sports company; OpenSilo, the expertise mapping engine and communications solution for enterprise companies; Linode, the highly-rated cloud hosting and server management provider; Collibra, the automated data management solutions provider; and Adaptris; the enterprise mobile application development platform.
With 100% year over year growth in 2013, Millennium Search is continuing to attract top companies in the technology space seeking technical sales and marketing talent, along with many others requiring more complicated talent needs.
“We understand that today’s technology startup is strapped for resources, and finding the right talent on your own is challenging,” says Shah. “The market is getting more and more competitive, and startups need the right team behind them to stay ahead of the curve. It’s the people they hire that will drive their company’s growth.”
Boston Based Mike Feeney joins the executive search firm as Senior Executive Recruiter.
Millennium Search has recently expanded its team of veteran recruiters. Michael Feeney, based out of Boston, MA, joins the firm as Senior Executive Recruiter.
Michael Feeney has a successful background in executive recruiting, and joins Millennium Search from Strategic Ventures. He brings with him a successful track record of providing technology companies with high speed access to top performing talent across strategic, precise and immediate senior talent needs for technical, sales and management functions. He is a veteran of the executive recruiting industry combined, bringing a background in strategy and marketing for the technology industry as well. His successful career made him an ideal match for the Millennium Search team and its technology startup clientele.
“The rapid growth of Millennium Search in the emerging tech space got my attention,” says Mike Feeney of his decision to join the recruiting team. “A closer look revealed that the company’s success is driven by providing clients the essentials for attracting top talent: insight, speed, and reach.”
“Michael is going to be a great addition to the team and has the ideal background to serve our technology startup clients,” says Amish Shah, CEO and Founder of Millennium Search. “He has been on both sides of the house, working for software companies directly, running his own recruiting desk and even managing his own firm. He understands our clients. He knows what they need in a way that few do, because he’s actually been in their shoes.”
The Seattle Based startup Stripes39 has retained Millennium Search to aid in the search for talent to fill key roles at several of its new ventures.
Stripes39, an internet based startup focused on creating and funding world class digital consumer experiences and supporting companies, is jump-starting its talent acquisition efforts to accommodate recent growth and expansion. With their core business yielding substantial success, the company is turning its focus towards several new ventures. In an effort to aid in the discovery and selection of talent and accelerate their hiring efforts, Stripes39 has retained Millennium Search, an executive search firm specializing in the placement of top performers throughout the world of startups and technology companies. With a broad network of VC relationships, extensive talent pools and a veteran team, Millennium Search’s resources give Stripes39 an advantage in the hiring of their core contributors.
Stripes39, is part of a new breed of ‘startup studios’, such as Betaworks and Science Inc, that build, acquire, and invest where they believe their core competencies afford them a unique advantage. For Stripes39, that core competency is ‘growth hacking’. With the explosion of the company’s Education Labs venture, Stripes39 is pushing for further expansion in 2014. Emerging ventures from the company include Concept.com, an exciting new digital consumer product & media company built around Stripes39’s content marketing expertise, and Sway.com, a previously-launched project in women’s fashion that saw explosive viral growth. As part of its portfolio of services & tools companies, Stripes39 is excited to spin out Fixer.com, its internal business process offshoring center, into a standalone endeavor.
Stripes39 retained Millennium Search to help expand Stripes39’s recruiting capabilities for several unique but key positions across their portfolio of new ventures. Senior Executive Recruiters Mark Cergol and Kyle Misiak will head the account, along with involvement from Millennium Search founder and CEO Amish Shah.
“We chose Millennium Search because, unlike many other recruiting partners we evaluated, they just get it,” says Jain of the Stripes39 partnership with Millennium Search. “We’ve found that, in the past, the biggest barrier to success has been recruiters not truly understanding what we do or who we are. Because Amish invests in startups, because the team works largely with startups, because people on the team come from startups and, most importantly, because they operate like a bleeding edge startup themselves, they truly understand us and thus, what we are looking for.”
Amish Shah, CEO and founder of Millennium Search and managing partner at Sierra Maya Ventures, was recently heard voicing his opinion on Fox Business about the problem of too many tech startups rushing headlong into IPOs. On Money with Melissa Francis, Shah, along with Capitalist Pig Hedge Fund Manager Jonathan Hoenig, voiced their thoughts on the announcement that Zulily, a somewhat profitable flash deal site, has announced its plans to go public. This, following a similar announcement from Twitter earlier this year, has caused many investment professionals to wonder whether or not tech companies are being too quick to rush for IPOs.
As a tech startup investor, Shah has an interesting perspective on the issue at hand. While Hoenig stated he felt that this was a good thing and a natural outgrowth of capitalism, Shah disagreed. When host Melissa Francis asked whether this was a repeat of the tech startup bubble in 1999, Shah indicated that he thought it was.
“It’s definitely a repeat of 1999. If you look recently, we’ve heard of candy crush going public. Are you kidding me? A game like that going public out there? Yes, I am for capitalism as an investor, but there’s lots of risk in what Zulily is doing. I think there are better players out there that are going to be going public, like Square.”
Zulily and Twitter are considered high risk investments because they are posting little to no profits. Zulily had a profit of just over $2 million in the first half of the year. While these aren’t horrible numbers, they aren’t highly successful numbers either. Twitter is doing even worse, yet these tech startups are pushing for IPOs.
Zulily and Twitter aren’t the first tech startups to attempt to go public, and perhaps they should look at the successes, and failures, of their past counterparts. “They should learn from Groupon,” warns Shah. “If you look at Groupon, it’s a total bust.”
Hoenig, while he was happy to see these tech startups, indicated he would not be buying them for his clients. Shah indicated getting in on the secondary market may be a better choice for investors interested in investing in these start up companies.
The interview originally aired on October 9 and can be viewed here: