In the largest financing deal for a local tech startup, Philippine-based software startup Kalibrr has raised P89.5 million ($2 million) in a funding round, led by US venture capital firm Y-Combinator.
Backed by the Silicon Valley VC, Kalibrr said that 75 per cent of the fund came from foreign-based investors, while 25 per cent was from local investment company Kickstart Ventures Inc, a subsidiary of Philippine telco giant Globe Telecom.
Kalibrr is a cloud-based job-matching platform designed to make online recruitment fast, smart, and more reliable. It raised its first seed funding from Kickstart in 2012. Last December 2013, the tech startup raised $1.9-million from global investors Siemer Ventures, Learn Capital, Omidyar Network, among others.
Also read: Kickstart’s startups raise $8.6m in 2014
Now flush with fresh investments, Rivera along with co-founder Dexter Ligot-Gordon disclosed that they plan to go in full swing by the second quarter this year. The firm’s platform is currently in beta stage. It started local operations in the fourth quarter of 2014.
“We are almost done with getting initial feedback from our clients and the job seekers using Kalibrr. After that, we will be able to add more features to the site. Thanks to the seed fund, we were able to grow the team to about 32 people, handling front- and back-end, content, and sales,” Rivera said.
In its first six months of operations, Kalibrr said it has provided 1,000 jobs to individuals and has gained the trust of over 1,536 companies, including key players in the telecommunications, real estate, finance, and services sectors.
“Kalibrr’s vision is simple, evolution and revolution of recruitment. We want to remove the notion of job search. It’s now job match,” Rivera said. “We want to create an ideal experience for both the job seeker, and the company to be able to connect and match with each other.”
Rivera added that Kalibrr is expanding its operations in the Philippines and plans to go global, soon.
“We are proud to be the first Filipino company to receive support from the Valley, but we certainly hope that we are not the last,” Rivera said. “I think people will be inspired and they realize that we can really build a valuable technology and start an organization in the Philippines. This will be a testament where the country is at this point of time, relative to the rest of the world.”