Wednesday , 21 November 2018

Job search engine Adzuna raises £8M Series C from Smedvig Capital

Adzuna, the meta-search engine for jobs, has raised £eight million in Sequence C funding from Smedvig Capital. The U.Ok. firm’s earlier backers embody Index Ventures, Ardour Capital, LocalGlobe, and over 400 Crowdcube traders. It takes complete funding to £12 million.

Based by the crew behind Gumtree, Zoopla and Qype, Adzuna basically aggregates job listings throughout the net to supply a single vacation spot to seek for a job. It launched first within the U.Ok. in 2011 however has since expanded to 16 international locations, during which co-founder Doug Monro tells me the U.Ok., U.S., Germany, Netherlands, France, and Brazil are its strongest markets.

“We’re rising in a short time in a number of of the others. We’re actually excited concerning the development we’re seeing within the U.S. particularly,” he says.

Throughout the 16 websites Adzuna operates, the roles search engine is seeing 10 million month-to-month guests, and has 7 million registered customers. “Thousands and thousands” of CVs have been uploaded to the location — little question drawn in by Adzuna’s data-driven “ValueMyCV” device — and it presently aggregates 5,000 sources of jobs. However, maybe extra importantly, given its Sequence C backing, the corporate is disclosing over £1 million in month-to-month income.

Adzuna generates income by referring job seekers to jobs. Job adverts are included without spending a dime in its search index to make sure it at all times lists each job obtainable, however advertisers have the choice to advertise listings on a CPC foundation just like Google Adwords. “Some further income is generated by way of labour market information gross sales and naturally now from the Discover a job contract which is publicly disclosed,” says Monro.

The ‘Discover a job’ contract is main current win for the corporate that noticed it displace competitor Monster who ran the pre-existing Common Jobmatch service for the U.Ok. authorities’s Division for Works and Pensions. The publicly procured contract is claimed to be price £2.5 million per yr.

“We’d been speaking to the DWP for various years about our imaginative and prescient for the way we may assist use our tech to assist make their service higher,” Monro tells me. “Final yr they determined to place the Common Jobmatch out to tender. As a startup with little govtech expertise, we thought we had little or no probability, however with the assistance of the team, we gave it a shot. There was a number of paperwork and processes to navigate, and we had been fortunate to have nice mentors to assist information us by way of this, however we had been additionally pleasantly shocked with how agile and open to alter the DWP crew had been”.

In the meantime, on who Adzuna’s most direct rivals are nowadays, Monro says there are a selection of different job serps that mixture content material in an identical manner however that he believes the startup is taking the market to the following degree by bringing revolutionary instruments and sensible information to bear, such because the ValueMyCV device and machine-learning based mostly matching. “It’s an enormous market and we’re focussed on constructing the perfect resolution for job seekers. We see ourselves as competing in that sense with the likes of Certainly, Ziprecruiter and LinkedIn,” he says.

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