SnagAJob.com is the nation’s largest online community of hourly workers and a provider of workforce management solutions that allow employers to more effectively hire and manage their hourly workforce. In addition to connecting hourly employees with employers, the Company also offers a suite of SaaS-based solutions to help these employers assess, select, hire, manage, and train their hourly employees.
The Company had received multiple unsolicited term sheets from venture capital firms regarding an investment. Unable to determine whether these were the right partners at the appropriate valuation, SnagAJob engaged Croft & Bender to advise the Company. Upon determining the appropriate amount of capital needed to fund growth, Croft & Bender drafted the offering memorandum and identified, marketed to and negotiated with multiple parties that had relevant industry experience to help the Company choose the most appropriate transaction.
Croft & Bender successfully raised capital for the Company, at a valuation well in excess of the original proposals, with two institutional investors (Adams Street Partners and Baird Venture Partners) that provide significant Consumer Internet and Human Resource industry experience. C&B Capital also participated in the transaction.