Luxembourg-based Job Today, a job marketplace that quickly connects employers and job-seekers, has raised $10 million in Series A funding. Accel led the round with participation from Felix Capital and return backer Mangrove Capital Partners.
London/Luxembourg City, 28th January, 2016: Job Today, the mobile marketplace that connects employers and jobseekers in minutes, today announces a $10 million (€8.75 million) Series A investment round led by Accel, with participation from Felix Capital and existing investor Mangrove Capital Partners. The company is also launching in London and Paris, its first markets outside Spain.
Job Today caters to SMEs in the retail, hospitality and other service markets. Recruitment solutions in this sector have been slow to innovate: businesses use a time-consuming and expensive combination of recruitment agencies, online classifieds and job boards, and walk-ins. On the other side, jobseekers hit the pavement without knowing which businesses are currently hiring, sift through classifieds, or undergo cumbersome agency applications. Ultimately, 75% of hiring still happens through the traditional stack of CVs.
Launched in May 2015 in Spain, Job Today revolutionises the hiring process for part-time and full-time roles in the service industry through a simpler and more affordable mobile-only solution. Its mission is to help millions of people find work the same day via their mobile and has already helped over 10,000 people find work in the eight months since launch.
From the moment they download the easy-to-use app, employers can see available candidates and jobseekers can access roles in the area 24/7, facilitated by location-based search. A built-in chat function means both parties can make contact immediately. Positions are filled the same day, significantly faster than existing recruiting options. Employers quickly post jobs, see how many people have applied for a post in real time and shortlist the candidates with whom they wish to connect.
Jobseekers create a profile in under two minutes and apply for a job in just one tap, learning within 24 hours if they have been shortlisted for it.
Polina Montano, co-founder and COO, said: “We want to change the lives of millions of people around the world by helping them find work. In enabling SMEs and the service industry, two under-served parts of the job market, hire staff quickly and easily, we’ve helped thousands of people find jobs in just eight months. The initial traction, round of funding and new market launches are important steps towards expanding the business further and fulfilling our goal.”
The company was founded by Montano and Eugene Mizin following Montano’s experience running a chain of petrol stations. Montano understood first-hand the pain points of having to regularly find new staff at short notice, and wanted to create a better hiring experience for both employers and jobseekers.
Since launch, the company has processed 2 million job applications. More than 20,000 employers have registered to post jobs, including companies like Ann Summers, Deliveroo, Reiss and YouMeSushi. The investment will fuel Job Today’s continued international growth and support its goal of becoming the number one service worldwide for job search and hiring in retail and hospitality.
As part of the investment, Sonali De Rycker of Accel, who led the round, will be joining the board. De Rycker said: “Job Today has the potential to transform the way hires are made in sectors with a traditionally high staff turnover. The founding team is incredibly passionate about the change they want to drive in the market, and their success to date shows there is a huge opportunity for mobile-based recruiting to bring lasting change in the service industry.”
About Job Today
Job Today is a mobile marketplace that connects employers and jobseekers in seconds 24/7, the company is focused on filling roles in the service industry in 24 hours. Polina Montano and Eugene Mizin launched Job Today in 2015, following Polina’s difficulty in recruiting for a chain of petrol stations that she managed.
Based in Luxembourg, the company has operations in London, Paris, Barcelona and Madrid. It has raised venture capital funding from Accel, Felix Capital and Mangrove Capital Partners.
For more information visit http://jobtoday.com/ or download the iOS http://m.onelink.me/ccc4a57 or Android app http://m.onelink.me/f6d25b41.
Accel is a leading early- and growth-stage venture capital firm, powering a global community of entrepreneurs. Accel backs entrepreneurs who have what it takes to build a world-class, category-defining business. Founded in 1983, Accel brings more than three decades of experience building and supporting hundreds of companies. Accel’s vision for entrepreneurship and business enables it to identify and invest in the companies that will be responsible for the growth of next-generation industries. Accel has backed a number of iconic global platforms, which are powering new experiences for mobile consumers and the modern enterprise, including Atlassian, BlaBlaCar, Dropbox, Etsy, Facebook, Flipkart, Funding Circle, Kayak, QlikTech, Simplivity, Slack, Spotify, Supercell, WorldRemit and others.
About Felix Capital
Felix Capital (“Felix”) is a venture capital firm for the creative class, operating at the intersection of technology and creativity. The fund focuses on digital lifestyle, investing in brands and related enabling-technologies including Farfetch, The Food Assembly, The Business of Fashion, Mirakl and Olapic. Based in London, Felix operates across Europe and the US and launched its first $120m fund in 2015.
About Mangrove Capital Partners
Mangrove Capital Partners is a leading early stage venture capital firm. Its team chases bold, transformational ideas around the world, with a combined focus on Europe and Israel. Mangrove works with the region’s top entrepreneurial talent at the earliest stages of innovation, with the aim of being the first institutional investor. Its team brings rich and diverse experience in industry as well as technology, and its entrepreneur-centric approach ensures founders have the support, encouragement and experience they need to build disruptive, global companies. With $750 million under management, Mangrove supports its portfolio through multiple rounds of financing and is the largest shareholder in many of its best performing companies. Founded in 2000, Mangrove has invested in more than 100 companies and was the first investor in Skype. More recently, Mangrove listed WIX on the Nasdaq (Nasdaq: WIX).