HeyJobs, a Berlin-based talent acquisition company, announced it has raised $12 million in Series A funding led by Notion Capital. Existing investors Creathor Ventures, GFC, and Heartcore Capital also participated in this funding round.
CEO Marius Luther and CTO Marius Jeuck founded HeyJobs three years ago in response to the changing labor demographics in Europe, according to EU-Startups. As the “boomer” generation is nearing retirement, employers have been facing steep declines in available talent. For example, Germany is losing 500,000 workers per year. And Germany has ranked skilled worker shortage as the #1 concern for growth (PwC).
What does HeyJobs do? It helps employers recruited skilled workers at scale by utilizing machine learning algorithms. And its product identifies talent that matches a job profile and targets them with personalized application and assessments. This enables “Predictable Hiring” at scale. Plus full automation enables employers to win talent at a reduced cost per hire.
“The recruitment market – $200 billion in size (Forbes) – historically worked in a “post-and-pray” mentality: put your vacancies on job boards and hope to make hires. Predictable Hiring, as pioneered by HeyJobs, is creating a whole new category that disrupts the classifieds and staffing industry by offering a better experience to both employers and job seekers,” said Luther in a statement.
HeyJobs now works with 500 enterprise clients including brands like United Parcel Service, PayPal, FiveGuys, Vodafone, and Securitas. These clients have hired tens of thousands of people so far.
“HeyJobs is transforming the future of work for millions of people, matching them with countless unfilled opportunities. Our most remarkable finding during due diligence was how much positive impact HeyJobs has on society. A leading public transportation provider in Germany told us that without the many hires they make through HeyJobs, trains would not run on time. A jobseeker said that she was connected in minutes to a better-paid job closer to her home, allowing her to spend more quality time with her family. In her own words, ‘HeyJobs changed my life,'” added Notion Capital’s Chris Tottman.
With this funding round, HeyJobs is going to push the application of artificial intelligence in talent acquisition in order to help people find the right job in order to live a fulfilling life. And the company doubled its headcount
In terms of accolades, HeyJobs was recognized as the best tech employer in Berlin (Glassdoor). And the company also doubled its headcount in the past year to 100 FTE.