Research firm CB Insights, in a study commissioned by The New York Times, listed Greenhouse among fifty startups predicted to become unicorns, companies with at least a $1 billion valuation.

After he sold his stake in Lab49 in 2011, he decided to focus his next business venture on recruiting, which he told TechCrunch in a November 2013 interview "seemed like a big opportunity".

[2][4] The funding round's aim was to expand the engineering, sales, and marketing teams, as well as increase the number of customers Greenhouse could take on.

The company aimed to use the money to expand the sales team and to handle security audits and internationalization.

[8] In August 2015, at the request of The New York Times, the research firm CB Insights ran tests based on funds raised and employee retention rate to predict which startups would become the next unicorns, companies with at least a $1 billion valuation.

Greenhouse collects into one dashboard the job seekers' applications from different routes like employment websites and referrals.

[8] From early on, the company was aiming to be a hub for recruiting applications and, as a result, it integrates with a large number of other SaaS products such as Zapier, Workato, HireView, Connectifier, and Clara Labs.

Greenhouse lets companies create a uniform interview procedure so candidates can be judged based on the same rubric.