JOB TODAY, the fastest growing mobile marketplace for jobs in hospitality, retail, and services, 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), and 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.
About JOB TODAY
JOB TODAY (http://jobtoday.com/) is a mobile marketplace that connects employers and jobseekers in seconds 24/7. The company helps companies find staff the same day in the hospitality, retail, and service sectors. Polina Montano and Eugene Mizin launched Job Today in May 2015.
Based in Luxembourg, the company has offices in the UK and Spain. It has previously raised venture capital funding from Accel, Felix Capital, and Mangrove Capital Partners.
About Channel 4’s Commercial Growth Fund
Channel 4’s Commercial Growth Fund offers companies with high growth potential, not investing at scale in advertising on television, the opportunity to build their business through advertising on Channel 4 marketing platforms – by exchanging equity stakes or striking revenue share arrangements. Launched in June 2015, the Fund reflects Channel 4’s own unique commercially funded, not-for-profit business model and aims to stimulate TV advertising spend from brands which are new to TV.
About Accel
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 Mangrove Capital Partners
Mangrove Capital Partners (http://www.mangrove.vc) is a leading early stage venture capital firm. With $750 million under management, Mangrove has the capacity to support 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 85 companies and was the first investor in Skype, which was acquired by eBay for over €3.1 billion in 2005. More recently, Mangrove listed WIX on the Nasdaq (Nasdaq: WIX). Mangrove has consistently featured among the top performing venture capital funds in the industry and has fuelled the creation of significant long-term value.
About Flint Capital
Flint Capital is an international venture capital fund established by IT entrepreneurs with the primary mission of discovering and supporting bold-thinking founders and their teams from Europe, Israel and US across a number of industries. Flint capital leads funding rounds at the Seed, Series A and Series B stages, focusing on companies that have the potential to disrupt their respective industries. Flint Capital has had several significant exits amongst portfolio companies, including Lending Club and Blazemeter, with current investments in dozens of industry leading companies, including WalkMe, CyberX, Virool and Findo. . Flint Capital has offices in Palo Alto, Berlin, Boston, Moscow and Tel Aviv. For more information, please visit www.flintcap.com and follow Flint on Twitter – @FlintVC
About Felix Capital
Felix Capital 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 German Media Pool VC
German Media Pool is one of Europe’s leading independent media investors. The fund is focused on mid- to late-stage companies with a consumer facing product or service that addresses a mass market. Founded in 2011, German Media Pool has invested a gross media volume in excess of €100M in companies such as Marley Spoon, Clark, Book A Tiger, Momox and About You.
