Jobiak, a Burlington, Mass.-based creator of an AI-based recruitment optimization technology platform for search and social media platforms, raised $2.3m in a seed funding.
The round was led by a group of private investors and entrepreneurs including:
– Jane Hirsh (former CEO/ Chairman of a major pharma),
– Raj Surapaneni (private equity),
– Joe Beard (Perot Jain PE),
– Rajat Gupta (Former MD McKinsey & Co), and
– Shafiq Lokandwala (successful HR tech entrepreneur).
The founder, Venkat Janapareddy, who has over twenty-two years of experience in the recruiting and staffing industry and had two exits with XpertTech (an IT services company sold to a U.K.-based private equity firm) and Gozaik (a social jobs platform acquired by Monster Worldwide in 2014), has invested an additional $500k in this round.
The company intends to use the funds to expand its go-to-market presence, product development, and make key leadership team hires.
Jobiak provides an AI-based recruitment optimization platform designed to quickly and directly publish job postings to Google for Jobs, maximize their ranking and accelerate the flow of qualified candidates. Created for enterprise level recruiters and talent acquisition teams, the platform offers a direct path to posting and achieving high ranking on social and search engines (e.g. Google for Jobs) without the need for HTML coding or developer support.
The comany, which also has international offices in India, has completed a beta phase having processed over half a million jobs and is now preparing for a full commercial launch in Nov 2019.