To close such a notable round of investment in the current climate demonstrates not only the opportunity ahead of us, but the progression hackajob has made over the years from an idea to a high-growth startup.
NEW YORK (PRWEB) May 03, 2023
This investment will enable hackajob to continue leveraging its proprietary AI models to reimagine what tech hiring will look like for enterprises over the next decade.
- The investment follows a rapid launch in the US, with 25% of tech talent on the platform now based there.
- The region already accounts for over 5% of revenue in just six months since the launch.
- Funding round led by Boston-based Volition Capital with experienced HR Tech Investor and Partner Sean Cantwell joining hackajob’s board.
hackajob, the full stack technical hiring platform, announces a $25m Series B funding round led by Boston-based growth equity firm, Volition Capital, with participation from existing investors AXA Venture Partners and Foresight. The round enables hackajob’s significant plans to accelerate its expansion in the US and deliver on its vision of becoming the end-to-end hiring platform for enterprises to scale their technology teams.
The investment comes shortly after hackajob entered the US market to help large enterprises and multinationals solve their chronic shortage of access to talented tech workers. 69% of US digital leaders claim they are unable to keep up with the pace of change due to a lack of access to talent - a challenge the hackajob full-stack solution, powered by their proprietary AI models, can change. Since its US launch, hackajob has already built a significant talent pool with US-based candidates representing 25% of tech talent on their platform, making the region its primary growth market.
Mark Chaffey, CEO and co-founder of hackajob, says: “We’re entering an age where every business is becoming a tech company thanks to the value of data and the vital need for digitization both internally and across all customer-facing operations. Our Series B funding is part of our strategic growth plan to help all organizations - not just those in Silicon Valley - respond to this challenge and, following a successful entry to the market, we’re excited to accelerate our expansion into the US whilst continuing to grow in the UK.”
“To close such a notable round of investment in the current climate demonstrates not only the opportunity ahead of us, but the progression hackajob has made over the years from an idea to a high-growth startup which raised a series A that enabled us to set the foundations throughout 2019 to seize the opportunity that came from Covid and ultimately become the company we are today. It was a highly competitive process and we’re delighted to choose Sean and Volition Capital as our partners for the next phase of growth given their deep expertise investing in category-leading HR Tech companies.”
hackajob has created the most effective hiring platform for enterprises to scale their permanent technology teams. Their modular product suite empowers companies to directly source talent through their two-sided marketplace, craft a compelling employer brand to their community of over half a million tech professionals, conduct online assessments and remote interviews, and generate powerful insights about a company’s Diversity and Inclusion performance. Underpinning their hiring platform is over 50 million first-party data points on technical professionals which power their proprietary AI matching engine. This enables companies to get an 85% response rate to individuals they message through hackajob whilst reducing the number of applications to make a hire by seven times.
One such company is S&P Global, one of hackajob's strategic global accounts. “hackajob has been a great success for our hiring demands as we’ve managed to save over $215,000 in agency fees whilst our diversity stats have increased" explained Luke Yorke, Talent Acquisition Lead at S&P Global. "hackajob has a great, diverse mix of candidates across the US and UK and I’m looking forward to continuing to grow the great relationship we share."
Chaffey adds: “Technology is going through a paradigm shift with the rise of Generative AI and Large Language Models. We’ve already incorporated these models into our candidate onboarding journey and given the incredible amount of first-party data we’re sitting on, this investment round fundamentally enables us to reimagine what tech hiring looks like for both candidates and enterprises over the next decade.”
“The tech employment ecosystem has outstanding growth potential in our digital-first world with increasing demand for software developers and engineers,” said Sean Cantwell, Managing Partner at Volition Capital. “Hackajob's offering, ambitious management team, and established network of high-quality tech talent have positioned the company for rapid expansion in the US market. We are confident in partnering with Hackajob to help them become the go-to destination for developers and enterprises alike."
As part of today’s announcement, hackajob is also releasing a new brand and visual identity that they worked on in partnership with the award-winning agency Droga5. Whilst technology continues to drive the world forward, from rockets that land themselves in the middle of the ocean to advances in AI that continue to blow our minds, it’s often forgotten that it’s people behind these products that are writing the code and ultimately building the future. hackajob’s new brand focuses on celebrating these people.
Technology continues to drive the world forward. From rockets that land themselves in the middle of the ocean to AI that continues to shatter the status quo, ultimately, it's the people behind these products that are writing the code to build the future. hackajob exists to bring these people together with the companies that need them to continue driving the world forward. To continue building the future.
By creating the best-in-class experience with a candidate-centric platform, tech professionals can leverage hackajob to learn new skills, participate in community events, engage directly with employers, and ultimately find their next role.
Through hackajob’s full-stack hiring platform, companies are able to directly source talent through a two-sided marketplace, craft a compelling employer brand to a community of over 500k tech professionals, conduct online assessments and remote interviews, and generate powerful insights about their diversity and inclusion performance. hackajob’s platform is underpinned by over 50 million first-party data points on technical professionals that leverage proprietary AI models to enable companies to get an 85% response rate to individuals they message through hackajob whilst reducing the number of applications to make a hire by 7x.
For more information, visit https://hackajob.com/
About Volition Capital
Volition Capital is a Boston-based growth equity firm that principally invests in high-growth, founder-owned companies across the software, Internet, and consumer sectors. Founded in 2010, Volition has over $1.7 billion in assets under management and has invested in and/or provided sub-advisory advice to more than 40 companies in the United States and Canada. The firm selectively partners with founders to help them achieve their fullest aspirations for their businesses. For more information, visit http://www.volitioncapital.com or follow us on Twitter @volitioncapital.