Local online recruitment start-up JOBJACK has secured R45 million in investment funding in a pre-series A round.
The funding round was led by Old Mutual subsidiary NEXT176 and includes the Michael & Susan Dell Foundation as impact-focused investors.
Founded in 2018 by Christiaan van den Berg and Heine Bellingen, JOBJACK is a free-to-use web-based platform for jobseekers looking for entry-level employment.
Van den Berg says JOBJACK is determined to change the narrative of entry-level recruitment in South Africa. In response to the growing unemployment rate in South Africa, the company offers an online job platform to combat two of the most significant barriers job seekers currently face: access and affordability. ‘’The R45 000 000 secured funding will increase operations and expand JOBJACK’s growing network in South Africa, all while connecting job seekers to life-changing job opportunities,” says Van der Berg.
Established in 2018 by the two young CA(SA)’s, JOBJACK has since seen almost 2 million job seekers register on the platform, with the figure growing by an additional 2000 each day. The latest funding will be utilised to increase the almost 5,000 employer sites being serviced across South Africa.
“These funds allow us to continue our momentum of onboarding employers and, not only streamlining their entry-level recruitment but to drive accessibility and affordability for the jobseekers that need it most,” says Van den Berg.
He says on average, job seekers spend around R938 per month on job seeking. These costs are incurred through the traditional job seeking methods of CV printing and transport. These methods have not only proven to be expensive, but highly ineffective due to the lack of accessibility to more job opportunities, relevancy to positions and whether there is active recruitment within the company where the CV is dropped off.
“JOBJACK combats these issues with a web-based platform that is free to use for jobseekers looking for entry-level employment. Job seekers are guided through a CV creation process to apply for opportunities directly from their mobile phones, which eliminates the cost of printing a paper-based CV and travelling to hiring companies for job applications. JOBJACK is also currently data-free for MTN and Vodacom network users, making the process more accessible for job seekers,” says Van der Berg.
The JOBJACK platform can be accessed through a mobile device or computer, giving a jobseeker greater access to the numerous verified companies listing job opportunities on the platform.
“The Michael & Susan Dell Foundation invests in organisations that develop innovations providing access to job opportunities for South Africans without work, enabling them to support their family livelihoods. This partnership will allow JOBJACK to further scale its current response plan, streamlining the recruitment process and increasing access and affordability for job seekers. We are encouraged by the growth trajectory of JOBJACK’s business model to serve those looking to enter the entry-level job market,” says Ona Meyer, Program Manager, Youth Employment, at the Michael & Susan Dell Foundation.
As a company solution, JOBJACK offers an automated recruitment platform to access, filter and streamline their hiring process. JOBJACK’s platform features allow clients to customise their screening processes through filtering questions, screening psychometric assessments and third-party checks, all while scheduling communication with potential hires through the platform. JOBJACK’s validated and affordable assessment battery provides invaluable insight into a candidate’s relevance according to the employer’s needs.
“Our mission is to build and invest in disruptive businesses that are not only sustainable but also possess the power to change lives. JOBJACK’s innovative approach to redefining entry-level recruitment in South Africa perfectly aligns with this vision. In addressing jobseekers’ pain points, we believe in the ripple effect of JOBJACK – how changing one life can set in motion a chain reaction of positive change resulting in a brighter, more inclusive future for South Africans,” says Tramayne Monaghan, Chief Ventures Officer at NEXT176.
