Techies.com has decoded a problem faced by many technology professionals who seek new employment. The Minneapolis-based company develops local career communities that provide job seekers with extensive career information and advice, as well as job listings.
To that end, Techies.com recently received $13.6 million in its second round of venture financing. Omega Venture Partners, an affiliate of BancBoston Venture Partners, led the round with a $5 million investment. Other first-time investors in the company include Norwest Venture Partners and Dain Rauscher Wessels Investors. Existing investor Winton Partners returned for the round at pro rata.
No placement agent was used for the deal. To date, the company has raised approximately $21 million in private equity financing.
“Once the applicant provides information on skills and what type of job is sought, we go to companies and ask them what type of people they are looking for,” said Vice President George Johnson. “Through e-mail, we match the perfect candidate with the perfect job.”
Techies.com has more than 350 corporate clients, including US West, Nike, IBM and American Express.
The company, which currently operates communities in nine major markets, expects to develop more than ten new communities by the end of the year.
Additional proceeds from the investment will go to a combination of traditional and online marketing, as well as growing the company. Techies.com will hire more than 150 employees as it expands into new markets.
As part of its full-service career advisory package, Techies.com offers job candidates training assessment certification and career lifestyle information.
“Many people who are actively looking for a job are passive seekers,” said Omega Managing Director Tony Brenner. “Techies.com is the dominant site for people within their markets who don’t want to move.”
Omega Venture Partners is a $155 million fund that invests in companies in the Internet and e-commerce industries. Brenner said the fund is more than 40% invested.
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