British tech talent startup Hackajob has received £5 million ($6.4 million) in a Series A funding round from AXA Venture Partners, with input from existing investor Downing Ventures.
In total, this means Hackajob has raised £6.2 million ($7.9 million) overall, including a £400,000 seed round in May 2016.
London-based Hackajob takes a different approach to recruitment -- instead of applying to companies, prospective employees fill out a profile and complete challenges or add past projects, and the companies apply to the employees. It seems weird at first -- backwards, almost -- but it actually makes sense. With more people than there are jobs, especially in the technology industry, having companies go the people they want to hire means less work for applicants and less work for companies, who often need to trawl through hundreds of applicants to find the one they want.
Clients -- those companies using Hackajob's platform for hiring -- are matched with potential candidates, who have been highly "curated" by Hackajob's algorithms. The client can then see the challenges the candidate has completed, or past projects which they've added to the platform, alongside traditional experience and the job they're currently doing, and links to social networks such as Twitter.
Many find the job application and interview process to be outdated -- Hackajob aims to change that. (Image: Rawpixel, Unsplash)
Razvan Creanga, co-founder and CEO of Hackajob, said: "We are thrilled to be able to continue our mission of making the hiring process unbiased, fairer and meritocratic on a global scale."
Company CEO Nik Storonsky is convinced that his company is an acquisition target because of its ability to greatly speed up the time it takes to detect credit card theft and other types of financial fraud.