Shaker Receives Growth Investment from The Riverside Company
Shaker is pleased to announce it has received a growth investment from The Riverside Company, a long-term oriented global private firm that invests in premier middle-market companies. Riverside has offices in the U.S., Europe, and Asia and has over $6 billion of capital under management.
Shaker’s Virtual Job Tryout software product suite integrates gamification, simulation, and validation to deliver a candidate experience that engages, educates, and evaluates job applicants. Shaker’s interactive and engaging online simulations are scientifically developed specific to each job and customer to predict on-the-job performance based upon the critical competencies for success. Virtual Job Tryouts are designed based upon rigorous studies by Shaker’s staff of over 25 Ph.D. experts to pinpoint the characteristics that have proven to predict job performance.
Brian Stern, Ph.D., president and CEO of Shaker, said, “We are excited to bring on Riverside as an investment partner as we move to our next stage of growth. Riverside’s financial and strategic support will enable us to accelerate many of our corporate initiatives, including expanding our library of Standard and Tailored Virtual Job Tryout assessments for a variety of job roles and industries, new product development and R&D, continued international expansion, and leveraging artificial intelligence within our assessment analytics. Riverside has a proven track record of success investing in high-growth software businesses such as Shaker.”
“Shaker is one of those truly unique companies that offer a compelling value proposition to multiple constituencies — including its customers in the form of better hires and job applicants in the form of a more enjoyable and informative application experience,” said Riverside Partner Joe Manning. “We are excited to partner with Shaker’s exceptional management team, many of whom are among the most accomplished experts in the field of pre-employment assessment. The unique blend of science, candidate experience, and ROI behind Shaker’s pre-employment assessments is unmatched in the industry. It’s no surprise that Shaker’s products have attracted a world-class customer base.”
Shaker’s customer base includes many of the largest and most forward-thinking tech firms, retailers, banks, e-commerce, insurance, pharmacy, manufacturing, restaurant chains, call centers, and federal government clients in the U.S. The company has consistently experienced double-digit revenue growth and has more than doubled in size during the last five years. Shaker has expanded internationally and now has customers utilizing its software products globally in the Americas, Asia Pac, and Europe.