Job Today: 5 reasons we invested...
A few months ago we led the Series-A financing of Job Today, a Luxembourg born company. The company officially launched its service in Barcelona in May and aims to revolutionise the way people find jobs. Amazingly, in July alone it processed more than 125,000 job applications.
Job Today is the brainchild of Eugene Mizin and Polina Montano, two passionate entrepreneurs. Yes, the same Eugene Mizin who was with Mangrove for 3.5 years, until the day he came and said "I have this great idea and I want to start my own company".
In the autumn of 2014, Eugene and Polina came to us with an extraordinary idea:a job everyday for everyone. Needless to say, we were intrigued. As Eugene and Polina passionately detailed how mobile devices could help make this happen we very quickly decided that we wanted to be part of this adventure. More specifically here is what got us excited:
1. A noble cause. With precarious jobs on the rise globally and high unemployment rates in many countries, we were drawn to the idea that Job Today could impact people's lives in a very meaningful way by making it remarkably easy to find work. Best described by the company as: "JOB TODAY is on a world-wide mission to help everyone find a job."
2. A massive market. Job Today is focussing on the low-skilled staffing market, which is the largest segment of the recruiting market and estimated at $260 billion annually. This market is served by over 100.000 temp agencies and numerous job boards. We feel that it is ripe for technology change.
3. Technology. By taking advantage of the power of the mobile device, Job Today provides immediacy and transparency where non existed before. For the first time ever, employers and candidates can connect in a matter of seconds, any time, any place, all directly from their phones. The service guarantees a response in 24 hours to all job applications.
4. Solving real pain points for both employers and job seekers. It is rare to find a proposition that provides such clear benefits for both side of the marketplace. Job Today not only brings speed and transparency but efficiency and immediacy.
5. Passionate founders. Eugene an Polina exude the passion we love to find in founders. They are convinced that they are building a company that will meaningfully affect people's lives. After all, can there be a better feeling than having helped someone find a job?
I will sit on the company's board and bring Mangrove's "out of the box" thinking to the table. I will also be the company's greatest cheerleader - one job at a time. We look forward an explosive ride…….
* This post was first published on LinkedIn.