Simply Hired, the largest job search engine, announced today that it has secured C$5.1 million of new investment funding from IDG Ventures and Foundation Capital. Crossing a profitability milestone and operating cash flow positive for the past four quarters with revenue growth for 16 consecutive quarters, Simply Hired will leverage the new financing to accelerate international expansion. Specifically, Simply Hired will use the funding to expand product offerings on its Canadian site, SimplyHired.ca.

“Job search is evolving in Canada. Job seekers are looking beyond traditional means of finding employment and adding online resources to their job search strategies. Simply Hired is committed to providing Canadian job seekers with a positive online job search experience through SimplyHired.ca,” said Gautam Godhwani, co-founder and CEO at Simply Hired. “IDG Ventures enables Simply Hired to continue to increase its presence in Canada and facilitates our relationship with the global network of 450 IDG online properties.”

“IDG Ventures focuses on companies with strong financial footing that demonstrate clear, differentiated market positioning,” said Phil Sanderson, managing director at IDG Ventures. “Simply Hired encapsulates an ideal investment partner, with clearly outlined goals and consistent growth over the past four years. Our relationship with IDG enables Simply Hired to expand its footprint globally.”

“We continue to see solid progress from the Simply Hired team,” said Ashmeet Sidana, general partner at Foundation Capital, which initially invested in the company in December 2005. “I’m excited to see Simply Hired expand its global footprint to further its mission of helping people find jobs they love.”

Simply Hired has seen significant growth on its network of global sites, reaching 23 million unique visitors monthly. Simply Hired has raised C$24.7 million in funding to date from IDG Ventures, Foundation Capital, News Corporation’s Fox Interactive Media, Garage Technology Ventures and individual investors.

About IDG Ventures

IDG Ventures is a leading venture capital firm focused on investing in new media and information technology companies. With C$309.5 million under management, the firm is an independent partnership making investments on behalf of its limited partners. International Data Group, the world’s largest IT media, research, and event company, is one of IDG Ventures’ limited partners. Through its relationship with IDG, IDG Ventures is able to uniquely add value to its portfolio companies by facilitating revenue acceleration and global expansion and establishing relationships with key strategic partners. For more information, visit http://www.idgvsf.com.

About Foundation Capital

Founded in 1995, Foundation Capital is a venture capital firm with a single purpose: building great companies. It is this entrepreneurial spirit along with a deep technical expertise that gives the partners the understanding, perspective, and enthusiasm to help promising companies in their formative stages. Foundation Capital targets innovative opportunities in cleantech, consumer Internet and infrastructure; telecommunications and networking; and enterprise software and on-demand services. www.foundationcapital.com

About Simply Hired

With more than five million job listings worldwide, Simply Hired (www.SimplyHired.com) is the world’s largest job search engine and recruitment advertising network. The company powers jobs on over 5,000 network partner sites such as LinkedIn, MySpace, Plaxo, CNNMoney, BusinessWeek and The Washington Post. It operates global sites in 13 countries and seven languages including the United States, Canada, the United Kingdom, Australia, India, Germany, Spain, France, Ireland, Italy, Belgium, the Netherlands and Brazil. Simply Hired was the fastest growing job site in 2008 according to both ComScore and Nielsen Media. Simply Hired has been lauded as one of the “50 Coolest Websites” by Time magazine, a “Top 100 Website” by PC Magazine and the “Best of the Web” by BusinessWeek. Simply Hired has raised C$24.7 million in funding from IDG Ventures SF, News Corporation’s Fox Interactive Media, Foundation Capital, Garage Technology Ventures and individual investors. The company is privately held and is based in Mountain View, California.