Australia:iRecruit gets $417k; The Beanstalk factory secures partnerships

Australia’s startup ecosystem saw pre-launch iRecruit secure a AU$550k (US$417k) funding while Sydney startup The Beanstalk Factory has built a web of several partnerships.

iRecruit receives $417k seed

Brisbane’s iRecruit has closed a AU$550k ($417k) seed round after initially bootstrapping since its creation in July 2015. The funding comes from a group of local undisclosed angel investors. Founder Todd Pierce mentioned the startup had initially experienced difficulty acquiring funding through VC firms.

The tech-platform aims to optimise the recruitment process for both employees and employers. The product will allow job seekers to make a personalized profile, with the algorithm then matching them with matched employers.

The platform is said to be free for employees. It will nonetheless require employers to pay a fee when looking to contact a matched employee profile. It aims to be especially useful for companies dealing with high volumes of applications.

The startup will use the newly acquired funds in the launch of their product across Queensland. iRecruit will then consider expansion to the rest of the Australian market.

The Beanstalk Factory secures partnerships, continues trend of corporate-startup partnerships

Sydney-based The Beanstalk Factory has secured a series of lucrative partnerships with an aim to encourage large corporates to team up with smaller startups to drive innovation. 

Founded by former StartupAUS CEO Peter Bradd and Jack Delosa, the start-up has previously worked alongside big brands, education institutions and government bodies. Since its launch in December 2015, the organisation has signed on the likes of Telstra, News Corp, Monash University, Myer or Sunclorp Groups.

With corporate environments increasingly seeking to link up and engage with startup ventures and other aspects of the Australian entrepreneurial ecosystem, many startup co-founders are seeking to build up their ventures using disruptive technologies.

Due to the growing importance of building such relationships, The Beanstalk Factory aims to function as an effective bridge between the two different ecosystems.

Also Read: Australia: Mid-market fund Bridgeport Capital buys out Hawkesbridge PE

Australia: Canberra plans mid-market fund; Macquarie Park to become innovation district

Australia Digest: RedEye gets $250k; CPP IPO on ASX; NSW sets up startup grants

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.