Recruitment platform FindWork, which was launched in February in Indonesia and the Philippines, announced that it has raised a total of $2 million since August 2017 as seed fund from angel investor Bernard Chong, according to a company statement.
FindWork, co-founded by Kevin Williams and Allen Tan, seeks to tap opportunities in the 100-million-person blue collar and service industry job market in Southeast Asia.
The seed fund will be used to continue to scale its user base of job seekers, which FindWork says has seen a steady 15-per cent week-on-week growth since its launch. It will also focus on growing its tech team while providing service levels and reach to its users.
The platform, currently operational in Indonesia and the Philippines, has over 30,000 job seekers and 500 companies on board since February.
FindWork plans to expand to Malaysia and other Southeast Asian countries in the future, as well as develop ways to better connect student graduates and hiring companies.
The lead investor, Chong, has invested in a multitude of tech startups across the region, including ASI Studios and Synergy88 Digital in the Philippines.
Earlier reports said among a total of 600 million people in Southeast Asia, the working-age population is about 200 million, with blue-collar workers accounting for about half of them, as of late 2016.
With high turnover rates in the blue collar and service industries, FindWork cited data estimates that showed the serviceable available market is over 100 million workers in Southeast Asia.
FindWork joins a number of recruitment startups that have recently secured fresh funds. Among them, Bangkok-based startup GetLinks, which helps tech companies find and hire talent, closed its latest funding round from SEEK Group and Alibaba Hong Kong Entrepreneurs Fund.
Wise Talent Technology Services Co, the operator of Chinese online recruitment platform Liepin.com, filed in April its prospectus for an initial public offering (IPO) in Hong Kong.
In its filing with the HKEx, the company said it plans to use the fresh capital to enhance its R&D capabilities, hire more engineers and data specialists, and increase IT investments over the next two to three years. A part of the funds will also go towards potential acquisitions or investments in assets and businesses complementary to its business.