Jobcase announces $100 million growth round to empower the world’s workers
Cutting-edge competitive intelligence, mathematical modeling and behavioral analysis are what it takes to succeed in the ever-competitive startup scene. Link Ventures has quickly become the model for identifying the next “it” companies in the Cambridge, Mass. ecosystem.
Finding the right match for employers and prospective employees is getting easier thanks to Jobcase, an open-access platform dedicated to empowering people in their work-lives.
This is exemplified by news that came out today from one of Link Ventures’ portfolio companies, Jobcase, which announced a $100 million growth round led by Providence Strategic Growth (PSG).
Since its 2015 launch, more than 100 million registered members, or Jobcasers, have leveraged Jobcase’s people-first social job search platform to find meaningful employment at companies including Amazon, Costco, WalMart, The Home Depot, Sony, H&R Block, Pfizer Inc. and more. Its data-driven platform has grown to be the fourth largest online destination for career resources in the U.S., and the technology Jobcase created helps power over 100 career-related sites.
“Jobcase is honored to pursue our mission of empowering people in their work-lives. The origins of this journey started with help from our friends at Link Ventures, and has benefited from their support thereafter. We welcome partners from all corners to help us make the future-of-work work for everyone — and we look forward to our friendship with Link Ventures to show the way,” said Fred Goff, Founder and CEO, Jobcase.
Part of the Link Ventures portfolio since the company’s founding, Jobcase announced today it has closed a $100 million growth round led by Providence Strategic Growth (PSG). This new funding will largely support improvements to the Jobcase platform to improve the customer experience, including:
- enhancements to its machine learning architecture to serve more relevant content to Jobcasers,
- product developments to further simplify the process of making connections and community building, and
- integrations and APIs that enable Jobcasers to more easily promote themselves and better engage with employment opportunities.
PSG CEO Mark Hastings stated, “We are proud to help expedite Jobcase’s mission to empower people in their pursuit of a happy and meaningful work-life. Jobcase’s unique approach that prioritizes community has catapulted the company to its position as an industry leader. The company is well positioned to fulfill the pressing need for connection in this space both domestically and abroad.”
At Link Ventures, we have long believed in the capabilities and vision of Fred and the Jobcase team and couldn’t be more proud to call Jobcase a partner. The company’s data-driven approach, exemplary use of algorithms and relentless focus on the end-user has powered its growth at a fraction of the cost other job search sites have experienced. The infusion of capital and network provided by PSG are meaningful assets to help Jobcase continue toward its mission of empower the world’s workers.
“Jobcase has been a dream of capital efficiency and high growth. It’s great to see this recognized,” said Dave Blundin, Partner at Link Ventures and Chairman at Jobcase.
Link Ventures provides the tools, insight and guidance to enable its portfolio companies to make people’s lives better; from helping people find quality doctors and better manage their healthcare, to sharing travel opportunities while saving people money or, in this case, facilitating professional empowerment and building social capital through connections and community. This is all a part of the big picture impact we strive to achieve with the fund, created through a tech-smart, capital-efficient model. Learn more at www.linkventures.com.
Read more about Jobcase’s growth equity raise and future plans:
“Jobcase says about 25 million users visit its site each month, drawn by an experience that has appealed to people including those without college degrees and those with professions such as retail, hotels, and manufacturing.”
“Jobcase, the provider of a social media platform designed to connect job seekers with one another and potential employers, has raised a $100 million round led by Providence Strategic Growth, an affiliate of Providence Equity Partners. The Boston-area startup has received previous backing from investors including Savano Capital Partners and Link Ventures; it brought in $11.5 million at a valuation of $200 million in early 2018.”
“Jobcase says its site is one of the largest destinations for job search and career advice. It differentiates itself from the likes of LinkedIn by targeting blue-collar workers and those without a college degree. Jobcase says it aims to tap into the collective experience of its 100 million users to help others weather the changing tides of the modern workforce, where jobs come and go and the prime skills of the past turn stale at a quicker pace than ever.”
“Its bread and butter, though, is a community portal organized around groups — or Hubs, in Jobcase’s parlance. It’s where they can ask for tips on navigating the hiring process, Goff says, like how to follow up after a job interview and what to expect during screener interviews. Members can join company Hubs for Walmart, Lyft, Amazon, and hundreds of other employers, and within those Hubs publish posts, respond with comments to others’ contributions, and follow individual users.”
“Jobcase, which was recently ranked as the fourth largest online destination for career resources in the United States, has 180 employees in Kendall Square. With the new funds, the company plans on growing by about 50 percent per year through 2020. As of now, Jobcase, which has more than 100 million registered members, offers tools that include profile and resume building and employee folder curation. With the funding, the company plans on building the integrations and API’s to combine all professional information in one area so a member does not have to input their work information on other job sites like Indeed or CareerBuilder.”
“The massive cash infusion, led by investment firm Providence Strategic Growth, signals confidence in Jobcase’s ability to compete with LinkedIn and other more specialized networks… And the nine-figure investment admits Jobcase to an elite club of Boston-area software startups that have raised similarly large sums. Other recent members include Cambridge Mobile Telematics, Fuze, Toast and ezCater.”
“Jobcase CEO Fred Goff on his growing company in Kendall Square, which is building online communities for people seeking work.”
“The new funding will accelerate product development and services for Jobcasers (Jobcase members) via internal growth and/or strategic acquisitions. Some enhancements include, but are not limited to, sophisticated machine learning architecture that will better serve relevant content to Jobcasers, product development to increase ease of connections and community building and new integrations and APIs that enable Jobcasers to more easily promote themselves and better engage with employment opportunities.”