JOB TODAY Raises $20m to Fuel Expansion in EU and UK
LONDON, November 10, 2016
JOB TODAY, the fastest growing mobile marketplace for jobs in hospitality, retail, and services, today announced a $20 million round of funding to fuel the company’s expansion. A year after launch, the company now processes close to one million job applications every week in its primary markets of the UK and Spain.
Existing investors Accel Partners, Mangrove Capital, and Felix Capital were joined in this round by lead investor Flint Capital, as well as Astremedia (Spain), Channel 4 (UK), German Media Pool VC (Germany). “JOB TODAY is solving a vital problem for millions of people, matching job seekers with employers in 24 hours,” said Andrew Gershfeld, Partner at Flint Capital. “We’re thrilled to partner with JOB TODAY and to support the company’s ambitious vision.”
Technology and mobile apps have changed how we hail cabs and order food, but looking for a job remains a decidedly low-tech affair for millions of job seekers. JOB TODAY is changing this reality. Gone are the lengthy CVs and cover letters as well as hard-to-read job descriptions. In the world of Snapchat and Instagram, JOB TODAY strives to make hiring just as easy and as mobile.
Since launch in May 2015, JOB TODAY has attracted over 2 million candidates and 150,000 businesses. According to industry statistics, over 75% of hiring in hospitality and retail revolves around paper CVs and is largely done offline. And with over 60 million vacancies per year in key markets, the potential for expansion is huge. With new funding, the company is now in a strong position to pursue expansion to the US and across major European countries.
The app has become popular with small businesses such as restaurants and shops; it has also attracted some of the biggest brands including McDonald’s, Starbucks, Pizza Hut, Subway, and Holiday Inn. Business customers show strong loyalty to the service with over 50% of jobs coming from repeat customers.
Brexit is projected to cost Britain millions of jobs by 2018, many of them in the hospitality and service sectors. JOB TODAY believes its platform has the potential to help address unemployment by allowing businesses to connect with local job seekers in a much faster, more social, and cost efficient way.
“We understand what it takes to get a job, because we have been there ourselves. We believe that as someone looking for a job, you’re better off speaking with a prospective employer directly and that’s exactly what JOB TODAY enables you to do in a matter of minutes,” says Eugene Mizin, company’s co-founder and CEO. “What really matters is that you find a job, Brexit or no Brexit.”
This round of funding brings the total investment into the company to $30 million.