Riga-based Hyperjob has raised €435,000 in a funding round that will see the company launch a slew of new product features and continue its expansion across Europe and US markets.
The €435,000 round was led by SMOK.vc, with the participation of angel investors Davis Siksnans, co-founder and ex-CEO of Printful, and Einar Roosileht, CIO of Rush Street Interactive, among other undisclosed parties. The startup had previously raised $110,000 from Antler and €40,000 from Overkill VC.
Despite the swath of global layoffs we’ve seen in recent months, Hyperjob founders remain optimistic (?) about the fact that Korn Ferry predicts that by 2030 there will be an $8.5 trillion global talent shortage, with organisations around the globe citing that finding qualified candidates to fill available roles has never before been more difficult.
While there’s a cornucopia of hrtech tools on the market that can help recruiters get a better night’s sleep, where Hyperjob is turning left when others are turning right is in their approach: fix the marketing, not the selection.
“Job pages look the same as they have for 100 years, but candidates' demands have changed, and so have the technologies at our disposal. There's a huge talent shortage, and we cannot rely on inbound applications,” says Hyperjob co-founder and CEO Janis Kreilis. “We have to change the way we think about recruitment, and think about it like marketing, rather than selection.”
According to Hyperjob, their platform is built to increase positive response rates through interactive vacancy pages, automated and personalised Linkedin and email outreach sequences (that can be A/B tested), and AI-driven candidate suggestions.
“With the system we've built, we've done just that, and the results are promising, we have 6 times more candidates agreeing to an interview,” adds Kreilis.
Hyperjob has piloted its offer in the Baltics, DACH, CEE, the UK, and the US, with results indicating a 300-600% lift in conversion rates, with 70% of candidates indicating that they preferred Hyperjob vacancy pages to regular job ads.
“The team behind Hyperjob knows the ins and outs of recruiting as they had their own agency and learned it first-hand serving their customers. They can also build and test software quickly with very limited resources, a crucial feature of an early-stage startup. The scrappiness of the team, a great early product, and a huge market waiting for disruption made it a no-brainer to invest in Hyperjob,” concludes SMOK Ventures’ Borys Musielak.