Talent acquisition platform HeyJobs just announced the closure of a $12 million Series A funding round led by Notion Capital, with participation from existing investors Creathor Ventures, GFC, and Heartcore Capital.
HeyJobs was founded in 2016 in response to Europe’s dramatically changing labour demographics. With the “boomer” generation nearing retirement, European employers are facing steep declines in available workforce. For instance, Germany alone is losing 500,000 workers annually. No wonder that German CEOs rank the “skilled workers shortage” their #1 concern for growth (PwC Global CEO Survey).
HeyJobs helps employers recruit skilled workers at scale by leveraging several machine learning algorithms. The product identifies talent that match a job profile and wins them through targeted marketing and a personalized application & assessment flow. The result: Predictable Hiring™ at scale. And through full automation employers are able to win talent with a significantly reduced cost per hire.
The Berlin-based startup is now already serving over 500 enterprise clients including household names such as United Parcel Service, PayPal, FiveGuys, Vodafone, and Securitas. Their clients have made tens of thousands of hires through HeyJobs to date.
Marius Luther, Founder & CEO: “The recruitment market – $200 billion in size – historically worked in a “post-and-pray” mentality: put your vacancies on job boards and hope to make hires. Predictable Hiring™, as pioneered by HeyJobs, is creating a whole new category that disrupts the classifieds and staffing industry by offering a better experience to both employers and job seekers.”
Chris Tottman from Notion Capital, lead investor, sees that “HeyJobs is transforming the future of work for millions of people, matching them with countless unfilled opportunities. Our most remarkable finding during due diligence was how much positive impact HeyJobs has on society. A leading public transportation provider in Germany told us that without the many hires they make through HeyJobs, trains would not run on time. A jobseeker said that she was connected in minutes to a better-paid job closer to her home, allowing her to spend more quality time with her family. In her own words, ‘HeyJobs changed my life’.”
HeyJobs will use the fresh capital to push the application of artificial intelligence in talent acquisition, on a mission of “helping everyone find the right job to live a fulfilling life.” With this at heart, HeyJobs is also setting best practices as an employer. Recently recognised as the best tech employer in Berlin based on a Glassdoor rating of 4.9, the company has doubled its headcount in the past 12 months to 100 FTE and is continually hiring both new and seasoned professionals across data science, engineering and business roles.