Jobbatical, a platform that enables people to work anywhere in the world and live where they are happy announces today it has closed a $4 million in funding. The round is led by Japan-based Mistletoe Inc. along with Union Square Ventures, AirTree Ventures, and Tera Ventures. This brings Jobbatical’s total funding to $7.9M which has been sourced from more than 15 investors from eight countries and four continents.
Jobbatical has dedicated investors from multiple regions (U.S., Australia, Japan), who believe in the company’s vision for the global workforce. As global talent crises threaten to put $10 trillion at risk in the world economy by 2030, Jobbatical is working with investors to solve perceived shortages and surpluses.
This funding round will help Jobbatical expand efforts with business partners in the Asia-Pacific, a market primed for job growth and entrepreneurship. In 2017 alone, four out of the top ten countries for Jobbatical campaigns were from APAC, and seven of the top 20 have been from APAC region.
“The way we all live and work is changing, from the emergence of new technologies to the attitudes of the young professionals who will define our future. Today’s workforce, especially millennials and Gen Z, want a global career experience but they don’t always know how to pursue it, or where,” said Karoli Hindriks, founder and CEO, Jobbatical. “Our experience shows there is a huge opportunity in the Asian markets with locations like Tokyo, Singapore, Hong Kong, and Kuala Lumpur. This funding will help us accelerate our efforts in these markets, as well as others, to give our users the best job opportunities possible.”
Skill-based workers in software engineering, marketing and creative roles have traditionally flocked to hubs like Silicon Valley, New York, and London, but that’s changing. There is a noticeable gap in the disbursement of talent, leading to talent surplus in these areas and talent shortage in many other cities around the world. Jobbatical is helping cities like Lisbon, Tokyo, and Tallinn build their own innovation hubs by removing geographical bias from hiring decisions and giving talent access to positions in these areas.
“I have always believed that innovation comes from the connecting of diverse dots. Jobbatical is doing precisely that – connecting talent globally. We have been drawn to Jobbatical’s vision for the future of work itself, that it will be more global and collaborative, and that this will be enabled, when people work where they are happy. That people’s skills and happiness will be borderless, and seamless,” said Taizo Son, CEO and founder of Mistletoe. “We are very excited about this great partnership with Jobbatical, and hope our relationship will become a catalyst for this new movement towards the future of creative workforces in Asia and Japan ”.
Mistletoe Inc. provides learning opportunities for entrepreneurs, facilitates startup communities, invests in and supports startup companies and venture capital funds in APAC and beyond. Founder Taizo Son, the younger brother of SoftBank Group Corp.’s founder Masayoshi Son, relocated to Singapore recently with the aim to invest $100 million in Southeast Asian startups in the coming five years.
Andy Weissman, the partner of Union Square Ventures said: “We are impressed by the international scope Jobbatical has managed to achieve within such a short time and are strong believers in their vision of a more fluid and collaborative world. The team at Jobbatical is a true testament to this, as they are probably the most diverse team we have ever worked with.”
Union Square Ventures is a US-based venture capital firm focused on early stage, growth capital, late stage, and startup financing. It exclusively invests in the internet world, specifically the applications layer of the web, internet services, and web services that create large networks, as well as the mobile sector. The firm manages over $1B in investments and has also invested in companies like Twitter, Kickstarter and Etsy.
“Jobbatical is fixing the very real and growing problem of talent displacement. At AirTree, we’re passionate about companies that are reshaping the way we live and work; Jobbatical’s mission to make the job search global fits right in with that,” said John Henderson, Partner at AirTree Ventures. “We’re happy to be working with them and look forward to what they’ll do next.”
AirTree is a venture capital firm that invests in world-class entrepreneurs building the exceptional companies of tomorrow. Based in Sydney, AirTree is the only Australian venture firm with a globally top decile track record, and has helped dozens of entrepreneurs reshape traditional industries with innovative technology and business strategy.
Hindriks concluded: “The way we all live and work is changing, from the emergence of new technologies to the attitudes of the young professionals that will come to define the global workforce. Jobbatical represents this global workforce of the future. We are delighted to see that investors from across the globe share our vision for the future – and are confident in our ability to deliver it.”
About Jobbatical
Jobbatical is an open platform with more than 100,000 users from 150+ countries. The company connects job seekers with companies in search of talent around the world.
Jobbatical was founded by Karoli Hindriks in 2014. She launched her first company at the age of sixteen, officially becoming the youngest inventor of Estonia. Prior to Jobbatical, Karoli founded three and directed five companies in the media, marketing and recruiting fields, successfully leading the launch of seven television channels in Northern Europe (including National Geographic Channels, MTV, and Fox entertainment).
About Mistletoe
Mistletoe Inc is a “collective impact community”, founded by Taizo Son, a serial entrepreneur and the younger brother of SoftBank Group Corp.’s founder Masayoshi Son. Mistletoe strives to empower startups and innovators to create a more human-centered and sustainable future, through technology. Comprised of founders, investors, entrepreneurs, researchers, and visionaries in the startup and venture communities who share the lofty ambition of addressing the problems humanity faces in the near and long-term future, Mistletoe operates globally, and particularly, with a large presence in Southeast Asia and Japan.
About Union Square Ventures
We are a small collegial partnership that manages $1bn across six funds. A thesis-driven venture capital firm, we invest in networks, infrastructure for the new economy, and enablers of open decentralized data. Find out more about Union Square Ventures.
About AirTree Ventures
AirTree partners with world-class entrepreneurs by providing early and growth stage financing, advice, connections and operational know how. We are entrepreneurs ourselves and have started companies and run big businesses across the globe. AirTree is the only Australian venture firm with a globally top decile track record.
About Tera Ventures
We manage seed stage venture capital funds out of Tallinn, Estonia and focus on startups with global ambitions and market leadership. As former entrepreneurs ourselves, we have walked in the shoes of our clients, and we place the relationships with our founders at the heart of our business helping them in any way we can. Find out more about Tera Ventures www.tera.vc
