Online job platforms have been popular areas for venture funding since the initial dot-com boom more than two decades ago. Nonetheless, recent funding activity indicates VCs still see plenty more opportunity for innovation and growth in the space.
Earlier today, Montreal-based job search platform Talent.com announced it raised $120 million a Series B funding round led by Inovia Capital and joined by new and existing investors. The company, which operates across 78 countries, also recently raised $30 million in debt financing to fund its expansion.
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The fundraise follows a period of sharp growth. Talent.com has roughly tripled in size since Caisse de Depot et Placement du Quebec first invested in 2019, according to a statement from CDPQ Vice President Alexandre Synnett. The company says it has 28 million unique monthly visitors worldwide and sends over 50 million personalized job alerts per day to jobseekers’ inboxes.
The stepped-up financing comes as startups in the job search and recruitment space are seeing vigorous interest from venture investors. Labor markets in the U.S. in particular are historically tight as the economy emerges from the pandemic, with high levels of job-hopping and many employers struggling to fill open positions with qualified workers. But niche labor market shortages are also a global phenomenon.
All that translates into some really big rounds for jobseeker platforms. Beyond Talent.com, some of the largest funding recipients in recent months include:
- Jobsandtalent, a Madrid-based on-demand staffing platform, raised $500 million in a December Series E round.
- Apna, a Mumbai-based networking and job-finding app for entry-level and skilled jobs, raised $170 million in Series B and Series C rounds over the past year.
- Nomad Health, a New York-based online marketplace for health care jobs, raised $63 million in a September Series D round.
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