Mylittlejob, one of Europe’s leading service providers for matching qualifying work and digital tasks by companies with college students, just closed a Series A funding round. The list of investors include Axel Sven Springer, grandson of German entrepreneur icon Axel Springer, and John Jahr, grandson of publishing magnate John Jahr senior. The Hamburg-based company raised a €3.5 million sum at a mid eight-digit valuation. Mylittlejob has solely raised from private individuals so far.
Marlon Litz-Rosenzweig, founder and CEO of Mylittlejob stated: „The support and great traction in the US show us that our proprietary technology and a new approach to human resources rather than yet another gig-economy model can prevail.”
Mylittlejob’s algorithm evaluates 250,000 college students in cognitive and non-cognitive dimensions with more than 5,000 individual data points per profile. The self-learning algorithm Made in Germany analyses 2 billion data points within seconds to match the task to the right student. The algorithm is also able to compose teams of students to work on jobs requiring different skills or organises parallel work to produce results faster and arranges for the most experienced students to verify results.
Mylittlejob is based in Germany’s port and publishing capital Hamburg and is active in the US since the beginning of 2017. The core business is the intelligent organisation of young talents and labour around digital tasks to ensure quality and fast deliveries of large projects. The proprietary technology handles selection and verification of results, IP transfers, invoicing and delivery to reduce overhead for companies and students. The aptitude test, the initial basis of the algorithm, was developed with researchers at the ETH Zurich in Switzerland to gather behavioural economic data. Blue chips like DHL, Unilever and fast growing companies like About You are long standing clients of Mylittlejob. The platform launched 2012 and today Mylittlejob employs more than 30 people.