Funding News South Africa

Local recruitment startup Jobjack secures R45m investment

Jobjack, an online platform for entry-level jobs, has secured a R45m investment in a pre-series A round led by Next176, which includes the Michael & Susan Dell Foundation as impact-focused investors.
Jobjack team | Source: Supplied
Jobjack team | Source: Supplied

The funding will be used to increase the company's operations and expand its growing network in South Africa, Jobjack said in a statement. “The latest funding will be utilised to increase the almost 5,000 employer sites being serviced across South Africa,” it said.

“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 job seekers that need it most,” says Christiaan van den Berg, co-founder and co-CEO at Jobjack.

“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.

Tramayne Monaghan, chief ventures officer at Next176, “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.”

Let's do Biz