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Press Release

CIT Invests in SL8Z CrowdSourced Recruiting

>PRWEB.COM Newswire

Herndon, VA (PRWEB) October 23, 2013

The Center for Innovative Technology (CIT) announced today that its CIT GAP Funds closed an investment in SL8Z, Inc., a global marketplace for crowdsourced recruiting located in Reston.

CIT President and CEO Pete Jobse said, “SL8Z provides a much-needed update to the recruitment process. Their innovative solution is the first crowdsourced recruiting service, and our CIT GAP Funds investment reflects our confidence in that service.”

SL8Z’s marketplace connects employers who are recruiting professional and executive level positions to a handpicked community of experienced recruiting professionals. SL8Z provides an efficient and affordable recruiting solution to companies as an alternative to traditional retained or contingency-based recruiting. To do so, SL8Z leverages the collective candidate networks of a global community of experienced, independent recruiters through a unique, crowdsourced platform.

Glenn Fox, SL8Z founder and Managing Partner, said, “The investment from CIT GAP Funds will help us to hire additional account executives and drive market traction.”

CIT GAP Funds is a family of seed- and early-stage investment funds placing near-equity and equity investments in Virginia-based high-growth technology, life science and clean technology companies.

Vice President of CIT Entrepreneur and Managing Director of the CIT GAP Funds Tom Weithman said, “The SL8Z team has been able to create a breakthrough in the recruiting process. Our investment provided the seed-stage funding needed to assist SL8Z in expanding their market traction.”

Since its 2005 launch, CIT GAP Funds has invested in over 80 companies across the Commonwealth of Virginia, deploying more than $9 million of public funds and attracting over $125 million more in private funding.

About the Center for Innovative Technology, http://www.cit.org
Since 1985, CIT, a nonprofit corporation, has been the Commonwealth’s primary driver in developing innovation-based economic development strategies and opportunities. CIT accelerates the next generation of technology and technology companies through commercialization, capital formation, market development and revenue generation services. To facilitate national innovation leadership and accelerate the rate of technology adoption, CIT creates partnerships between innovative technology startup companies and advanced technology consumers. Follow CIT on Twitter @CITorg and add the Center for Innovative Technology on LinkedIn and Facebook.

About the CIT GAP Funds, http://www.citgapfunds.org
CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia. CIT GAP Funds investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel consists of leading regional entrepreneurs, angel and strategic investors, and venture capital firms such as: New Enterprise Associates, Grotech Ventures, Valhalla Partners, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Clinic, Johnson & Johnson, General Electric and Alpha Natural Resources.

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Read the full story at http://www.prweb.com/releases/GAP/SL8Z/prweb11258780.htm

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