Hackajob sets sight on further US expansion following $25m series B funding

by Startacus Admin

Full Stack Technical Hiring Platform, hackajob, has secured a $25m Series B funding round to continue its growth in the United States.

Great news for hackajob, the full stack technical hiring platform, with the announcement of a $25m Series B funding round led by Boston-based growth equity firm, Volition Capital, with participation from existing investors AXA Venture Partners and Foresight. The round enables hackajob’s significant plans to accelerate its expansion in the US and deliver on its vision of becoming the end-to-end hiring platform for enterprises to scale their technology teams.

The investment comes shortly after hackajob entered the US market to help large enterprises and multinationals solve their chronic shortage of access to talented tech workers. 69% of US digital leaders claim they are unable to keep up with the pace of change due to a lack of access to talent - a challenge the hackajob full stack solution, powered by their proprietary AI models, can change. Since its US launch, hackajob has already built a significant talent pool with US-based candidates representing 25% of tech talent on their platform, making the region its primary growth market.

Mark Chaffey, CEO and co-founder of hackajob, says: “We’re entering an age where every business is becoming a tech company thanks to the value of data and the vital need for digitisation both internally and across all customer-facing operations. Our Series B funding is part of our strategic growth plan to help all organisations - not just those in Silicon Valley - respond to this challenge and, following a successful entry to the market, we’re excited to accelerate our expansion into the US whilst continuing to grow in the UK.

“To close such a notable round of investment in the current climate demonstrates not only the opportunity ahead of us, but the progression hackajob has made over the years from an idea, to a high growth startup which raised a series A that enabled us to set the foundations throughout 2019 to seize the opportunity that came from Covid and ultimately become the company we are today. It was a highly competitive process and we’re delighted to choose Sean and Volition Capital as our partners for the next phase of growth given their deep expertise investing in category-leading HR Tech companies.”

hackajob has created the most effective hiring platform for enterprises to scale their permanent technology teams. Their modular product suite empowers companies to directly source talent through their two-sided marketplace, craft a compelling employer brand to their community of over half a million tech professionals, conduct online assessments and remote interviews and generate powerful insights about a company’s Diversity and Inclusion performance. Underpinning their hiring platform is over 50 million first party data points on technical professionals which powers their proprietary AI matching engine. This enables companies to get an 85% response rate to individuals they message through hackajob whilst reducing the number of applications to make a hire by seven times.

One such company is Sainsbury’s, one of hackajob’s biggest clients. Over the past few years, the retailer has seen its tech function grow to over 1,400 colleagues.

Helen Hunter, Chief Product & Analytics Officer at Sainsbury’s says: “As our key strategic partner in the recruitment of outstanding talent in Sainsbury’s Tech, hackajob has helped us on our digital transformation journey. They have been instrumental in supporting how we hire across our roles, from early-in career opportunities to senior, strategic positions, and we look forward to working with them as we continue to raise our game, attracting even more great talent to Sainsbury’s Tech.”

Chaffey adds: “Technology is going through a paradigm shift with the rise of Generative AI and Large Language Models. We’ve already incorporated these models into our candidate onboarding journey and given the incredible amount of first-party data we’re sitting on, this investment round fundamentally enables us to reimagine what tech hiring looks like for both candidates and enterprises over the next decade.

“The tech employment ecosystem has outstanding growth potential in our digital-first world with increasing demand for software developers and engineers,” said Sean Cantwell, Managing Partner at Volition Capital. “Hackajob's offering, ambitious management team, and established network of high-quality tech talent has positioned the company for rapid expansion in the US market. We are confident in partnering with Hackajob to help them become the go-to destination for developers and enterprises alike."

As part of today’s announcement, hackajob is also releasing a new brand and visual identity that they worked on in partnership with the award winning agency Droga5. Whilst technology continues to drive the world forward, from rockets that land themselves in the middle of the ocean to advances in AI that continue to blow our minds, it’s often forgotten that it’s people behind these products that are writing the code and ultimately building the future. hackajob’s new brand focuses on celebrating these people. 

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Published on: 3rd May 2023