Jobandtalent Raises $25M to Lead Job Matching Category
-- Funding is an extension of the July 2014 Series A round of $14M
-- The Company will use the funds to grow its engineering and data scientist team, as well as boost its growth into different markets including the United States
May 27, 2015, 09:02 ET
MADRID, May 27, 2015 /PRNewswire/ -- Job matching platform, jobandtalent today announced it has secured $25 million in funding as an extension of its Series A investment, which was previously closed in July 2014. The funding round is the biggest investment inflow to date for a company within the job matching category, and represents a testament to jobandtalent's growth potential on a global scale.
An investor group by Pelayo Cortina Koplowitz increased its participation and has co-invested with the previous investors, including Qualitas Equity Partners, Kibo Ventures, Fundacion Jose Manuel Entrecanales, and business angel Nicolas Luca de Tena.
"We are extremely excited about this round of funding," said Juan Urdiales, Co-founder of jobandtalent. "We created the job matching category and we are leading it. Job boards were born in the nineties, Monster was one of the creators of the category and they took the lead, then the aggregators came with Indeed, and finally professional networks arrived with LinkedIn owning the category. Job matching is the new disrupting category in this sector and jobandtalent is poised to dominate the market."
Leaders of job matching category
Founded in 2009, jobandtalent was created with the purpose of making the job search process easier for all types of professionals. Jobandtalent has significantly differentiated itself within the market through its unique matching technology that allows its users to receive job suggestions in a fun and engaging way. It enables its users to easily apply or dismiss a job suggestion, which in turn improves the matching system and offer better job suggestions.
Jobandtalent currently has over five million registered users and over 450,000 new users joining each month, using mainly the Company's mobile site and app. Jobandtalent's performance has allowed the Company to gain an advantageous competitive position in a market that is seeing an increase in interest, with other start-up companies aiming to establish positions within the market.
The main differentiating factor that jobandtalent has against other industry players is the Company's unique user engagement. In traditional job platforms, candidates come to search and they leave. Jobandtalent has established an easy-to-use platform that creates long-term user engagement through its tailored job matching suggestions.
A unique matching algorithm
Developed by a team of data scientists and engineers, Jobandtalent's unique matching technology combines various algorithms that interact in a learning to rank function, as well as machine learning techniques to fine tune the matches.
Jobandtalent measures the effectiveness of its technology with a self-created industry performance metric known as Application Through Rate (ATR), which measures the rate of applications that the algorithm generates per job view.
"Jobandtalent is generating more than 200 million data points each month including job views, applications and discards, which are used by our advanced technology team to continually improve the ATR and thus the accuracy of its matches," explained Felipe Navio, Co-founder of jobandtalent. "This is a huge competitive advantage against any player that wants to enter this category."
The Company will use a significant portion of its funding to grow its Engineering and Data Scientists team. Moreover, the Company will launch new features to visualize useful data for users about the companies, salaries and industries, in the next months.
The unique matching technology allows jobandtalent to generate a higher number of applications compared to its competitors with a lower number of registered users. Consequently, the Company has the capabilities to expand in markets worldwide much faster than the rest of its established competitors. That is the main reason to explain the Company's massive growth not only in the user side, but also in the companies' recruiters' side.
In this way, over 4,000 new companies are joining jobandtalent every month to attract talent and it currently has over two million job postings on the platform. The companies range in size, from startups such as Socialbro or Nexmo, to major enterprises like Amazon, Coca Cola and Unilever.
Becoming one of the top players in the industry
Thanks to this latest funding round, jobandtalent will strengthen its position in its strongest demographics, Spain, the United Kingdom and Latin America, as well as expand into the U.S. market. The Company will test its model in key locations across the U.S., including New York, in order to understand the marketplace dynamics and then scale it rapidly across the region.
"We are becoming one of the top job platforms in the world. We have created a new category that is disrupting the job search process and we believe that the history of jobandtalent is only just beginning. Now we are going to be testing our model in some key locations in the U.S. to scale it massively in a second phase," said Felix Ruiz, Executive Chairman of jobandtalent.
Moreover, the company declares that is currently in advanced talks with some investors to close a Series B round within the next months.
Jobandtalent is a job matching platform that matches candidates to job offers that are best suited to their profiles, thanks to their unique algorithm. This innovative technology uses candidates' profile information to continuously suggest the most relevant jobs for them. Jobandtalent has created a user friendly platform that makes the job hunting process run more efficiently for its users. Jobandtalent has attracted more than 5 million users worldwide and aims to continue to growth and develop into industry leaders.
For more information visit www.jobandtalent.com/uk
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