Yello is merging with WayUp, a fellow US-based campus recruitment service that counts publisher Axel Springer, education technology provider Chegg and talent agency Creative Artists Agency (CAA) among its backers.
Founded in 2014 as CampusJob, WayUp has built an employment portal targeting students and recent university graduates from diverse backgrounds. Yello was formed in 2008 and similarly provides a cloud-based human resources platform focused on early and inclusive recruiting.
The merged company intends to ramp up diversity, equity and inclusion (DEI) efforts and help recruiters build a talent pool of underrepresented candidates. Chegg revealed in a 2020 financial report published in February this year it had invested an undisclosed amount in WayUp at an unspecified date.
Axel Springer and CAA subsidiary CAA Ventures had participated in an $18.5m series B round for WayUp in 2017 that brought its overall funding to $27.5m. It was led by Trinity Ventures and included General Catalyst, BoxGroup, Lerer Hippeau, Index Ventures, SV Angel, Female Founders Fund and OurCrowd.
General Catalyst had led a $7.8m series A round for the company in 2015 that also featured Index Ventures, SV Angel, Slow Ventures and existing investors Box Group and Lerer Hippeau. Its earlier backers also include F Cubed, Red Sea and Kal Vepuri.
Fomerly known as Recsolu, Yello had disclosed a total of over $46m in funding from JMI Equity, First Analysis and Argentum between 2014 and 2017.
