Job search engine Adzuna has raised £8 million (R133 million) from UK-based venture capital firm Smedvig Capital in a series C funding round.
Established in 2011, Adzuna, is headquartered in the UK and has operations in SA. The firm, which has grown to attract 10 million visitors a month across 16 countries, was founded by the team behind Gumtree and Zoopla: Andrew Hunter and Doug Monro.
The job site, according to Adzuna, generates well over £1 million in monthly revenue and has helped hundreds of thousands of people find jobs. Among its competitors are job-search engines such as Indeed, ZipRecruiter and LinkedIn.
The funding, according to the company, will be used to further expand Adzuna internationally, and to revamp its search and machine-learning platform by adding smart search options that will consolidate millions of job ads in one place.
Monro explains: "We are proud of the team and platform we have built at Adzuna, and are well on our way to achieve our mission of helping millions of people globally to find better, more fulfilling jobs. The business is already profitable, but we've decided to raise this round to grow even faster.
"Working with Smedvig has been a pleasure and they were a natural choice for the next stage of our growth. We look forward to achieving great things together."
The job search engine says other key priorities for 2018 and beyond include expanding the company's development and data science teams, and growing international operations.
The company says it is on a strong growth trajectory with its platform featuring over 5 000 job sources, 7 million registered users, and recently introducing Find a job: a new job portal used by the UK government.
The latest round of funding is a culmination of previous funding received by Adzuna, from other venture capital firms such as Index Ventures, Passion Capital and LocalGlobe, says the company, taking its total received funding to £12 million.
Robert Toms, MD of Smedvig, explains: "We're delighted to be working with Andrew and Doug, experienced entrepreneurs with great track records.
"The Adzuna team has achieved a great deal in recent years. It's fantastic to see them winning an important government contract in the UK at the same time their international expansion is gathering pace.
"We believe the innovations they continue to bring to the market will change the way people search for jobs, globally."
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