UK-based mobile hiring app Job Today has secured $16 million in funding. The investor was 14W.
Wednesday, 12th September 2018: JOB TODAY, the UK’s number one mobile hiring app, today announces that it has raised a further $16M to fill the Brexit gap with young job seekers, as EU workers leave their jobs and the country.
Launched in 2015, the technology start-up has recorded over five million candidates across Europe, 70% of whom are under 35 years of age. In this time, JOB TODAY has delivered over 100 million candidates to over 400,000 predominantly small businesses that signed up for the service.
The significant additional funding comes as investors respond to JOB TODAY becoming the leading solution for SMEs, with retail and hospitality becoming their biggest service industry sectors. JOB TODAY is filling empty vacancies, fast, in some cases in just 24 hours with Brexit on the horizon.
High churn is up in these sectors, where the hospitality sector alone currently experiencing a 90% churn rate. This means that job boards and traditional methods are not fast enough to fill the Brexit job shortage. Meanwhile, the opportunity to find, apply and secure a job quickly appeals to a younger, less skilled workforce who have gravitated to the speed and ease of JOB TODAY’s mobile first offering.
The company will use the majority of the additional funds to expand its presence in the UK, where it has experienced significant growth in both job postings and candidate applications. The overall volume of applications has increased by 46% year-on-year in the UK with the number of applications per candidate growing by 32% in the same period. JOB TODAY counts Costa Coffee, Pret A Manger and EAT amongst its regular hirers.
Eugene Mizin, CEO of JOB TODAY says that the company expects the hiring opportunity to increase even further in 2019 as a result of Britain’s exit from the European Union. He says: “The casual job market is often the first to experience the effects from macro-economic forces and Brexit will mean that many non-skilled and non-British workers will leave the UK. This will create a demand to fill casual jobs and create new opportunities for the less-skilled school, college and university leavers entering the workforce for the first time in 2019.
The recent $16M was a Series B funding round extension with prominent investor 14W. Based in NYC, 14W joined the company’s other renowned investors including Accel and Mangrove.
Alex Zubillaga, Managing Partner of 14W, comments: “Hiring in the U.K. remains largely offline with limited technology innovation, despite a massive shift to mobile and higher smartphone penetration. JOB TODAY is not just another job board – it is revolutionising the employment sector with a mobile-first approach that will fundamentally change how people connect and hire. Currently in the U.K. 30% of registered employers on the platform have never used online recruitment before. That shows the power of JOB TODAY.”
JOB TODAY’S growth also follows it being the first to integrate with Google Jobs (launched in July 2018 in the UK). This resulted in 101% growth in users in the first month of integration.