The Berlin-based startup Jobspotting just secured an investment by the renowned venture capital firm Horizons Ventures. This seed financing (numbers have not been disclosed yet) from the Hong Kong-based VC firm will fund Jobspotting’s ongoing development and expansion plans.
According to the startup, the deciding factor behind the investment was Jobspotting’s strong focus on technology. Before Jobspotting, Horizons Ventures invested in companies such as Facebook, Skype and Spotify (to name the most successful ones).
Gilad Novik, CTO of Horizons Ventures, stated: “At Horizons, we invest in disruptive technologies that solve global problems. We are excited to see how the ambitious team at Jobspotting can change recruitment.”
Jobspotting, which launched in January of this year, seeks to change job search through utilising data to provide personalised recommendations. Such technologies have already been harnessed successfully in other verticals by services like Spotify, Netflix and Pandora.
Jobspotting hones the job search process by recommending opportunities to the user. The
recommendations are based on the users’ interests, desired location and work experience,
and refined through user feedback. The algorithm learns when the user flags a job as either relevant or unsuitable, to better identify the best job offers. The matching technology is currently under assessment for a European patent. Horizons Ventures’ investment allows Jobspotting to expand its product. The platform will soon be available in ten languages and expansion into new countries is also pending.
Robin Haak, Co-Founder and COO of Jobspotting, said: “The investment comes at just the right time. With Horizons, we have a strong partner at our side during our expansion and internationalisation phase”.