Singapore-based job matching platform GrabJobs plans to raise S$5 million ($3.75 million) in a Series A round by the middle of this year to double its team size in existing markets and fuel expansion to other Southeast Asian countries.
The proposed Series A comes after the firm secured S$1.6 million ($1.2 million) in seed funding from undisclosed angel investors by the end of 2017, Emmanuel Crouy, Co-Founder & CEO of GrabJobs, told DEALSTREETASIA.
“Seed funding has been used and will continue to be used to fuel growth in client and job seeker acquisition in our existing markets, which include Singapore, Philippines, Thailand and Myanmar. Part of it will be used to further develop our unique job interview chat bot technology,” he said.
Founded in 2015, GrabJobs is a web and mobile recruitment solution that specializes in entry- to mid-level positions. It uses an AI-based chat bot to automate the screening process of job applicants. It claims to cater to over 3,000 companies, which have posted more than 8,000 jobs, and to have received over 350,000 job applications on its platform so far.
In addition to its presence in Singapore, the Philippines, Thailand and Myanmar, GrabJobs says it has licensed its technology in the Netherlands and South Africa to local teams.
“We have reached breakeven in two of our existing markets. Our goal is to be break even in all our existing markets by the end of the year and also reach over 1 million job seekers and 10,000 companies,” Crouy added.
Competition among job marketplace platforms in Southeast Asia has been heating up.
Last month, Singapore-based on-demand staffing platform UShift was reported to be planning to raise $3-5 million in pre-series A round in this quarter to expand into Indonesia, Thailand, the Philippines and Malaysia. Helpster, which has presences in Thailand and Indonesia, also secured $2.5 million in pre-series A round led by Mojo Partners and Wavemaker Partners last December.