London-based technical hiring platform hackajob has a closed a £20m ($25m) Series B investment from US-based growth equity firm, Volition Capital.
The funding will be used to accelerate the company’s growth plans in the US market, where 25 per cent of hackajob’s active candidates are already based.
hackajob’s mission is to make worldwide hiring fairer, faster and meritocratic and says the rise of remote working means two-thirds of tech talent is now widening the job search beyond their locality.
Mark Chaffe, co-founder and CEO, said: “This round of funding represents an important milestone on our journey of building the full stack technical hiring platform for enterprise organisations.
“As technology continues to transform the way we live our lives, every company regardless of size, industry or geography is placing technology at the heart of their strategy.
“This means building a scalable strategy to attract, hire and retain technical talent is becoming a boardroom priority. Our full stack technical hiring platform is the solution enterprises seek to solve this problem.”
Launched in 2014, the Series B investment follows a Series A round in 2019. The company employs 120 people.
The £20m Series B round was led by Boston-based Volition Capital with participation from Axa Venture Partners, Foresight and Future Fund.
Chaffe said: “We’ve already built the most effective direct sourcing platform for technical talent through our two-sided marketplace where companies receive an 85 per cent response rate and reduce the volume of candidates to make a hire by 7x.
“Underpinning our hiring platform is over 50 million first-party data points on technical professionals, that power our proprietary machine-learning models.
“This round of funding allows us to fundamentally reimagine what tech hiring looks like for both candidates and enterprises over the next decade.
“Technology is going through a paradigm shift with the rise of 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’ve generated, expect a completely new experience from our product suite over the coming months.”
As part of the company’s US expansion, the company will officially come out of beta in the US to enable all US organisations hiring technical talent to onboard hackajob.
Chaffe added: “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.
“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 shatter the status quo, it’s often forgotten that it’s people behind these products that are writing the code and ultimately building the future. Our new visual identity centres around celebrating these people.”