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MHT's Galen Moore: Hiring trends and opportunities
MHT's Galen Moore: New 'hyperlocal' web trend
Experience Inc., the collegiate recruitment site based in Faneuil Hall, has raised $4.4 million of a new $5.4 million round of equity funding, according to a document posted yesterday by the U.S. Securities and Exchange Commission.
The company, which provides online resources for career-minded college students, was founded in 1996, and has received at least $53.9 million to date, including the recent tranche, from a list of investors including Polaris Venture Partners, according to published reports.
The bulk of that money came in three rounds worth $49.5 million in total, starting in 1999. The funds allowed Experience to buy competitors Crimson Solutions, Brass Ring Campus and ePro Net.
Experience, founded by former Bain and Co. consultant Jennifer Floren, now produces revenues between $5 million and $25 million, according to the documents filed yesterday. The company operates on a subscription revenue model based on two constituencies –- corporations and universities.
According to a profile published by the Boston Business Journal in 2006, Experience at the time had projected revenues of $10 million for the year, and employed 50.
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