Volition Capital leads £20M Series B Investment in hackajob

• hackajob, the Full Stack Technical Hiring Platform, has secured a $25m Series B funding round to fuel its growth in the United States
  
• The funding will support hackajob’s continued use of proprietary AI models to reshape enterprise tech hiring over the next decade
  
• 25% of tech talent on the platform is now based in the US, following a rapid launch in the region
  
• Within six months since launch, the US already accounts for over 5% of hackajob’s revenue
  
• Boston-based Volition Capital led the funding round, with experienced HR Tech Investor and Partner Sean Cantwell joining hackajob’s board.

Boston-based growth equity firm, Volition Capital, has led a $25 million Series B funding round for hackajob, a full stack technical hiring platform. Existing investors AXA Venture Partners and Foresight also participated in the round. This funding will support hackajob’s plans to expand its operations in the United States and achieve its goal of becoming the go-to hiring platform for enterprises to grow their technology teams.

After recently entering the US market to address the chronic shortage of access to talented tech workers faced by large enterprises and multinationals, hackajob has secured a $25m Series B funding round to accelerate its expansion in the region. According to a survey, 69% of US digital leaders reported being unable to keep up with the pace of change due to a lack of access to talent. Hackajob’s full-stack solution, powered by its proprietary AI models, aims to address this challenge.

Since its launch in the US, the platform has already built a significant talent pool, with 25% of tech talent on their platform based in the country, making it the primary growth market for hackajob. The funding round was led by Volition Capital, with participation from existing investors AXA Venture Partners and Foresight.

Mark Chaffey, hackajob’s CEO and co-founder, explains: “The importance of technology is increasing rapidly, and digitization is becoming essential for all businesses. This includes not just those in Silicon Valley, but also all organizations worldwide. Our Series B funding is a significant part of our strategic plan to help businesses respond to this challenge. We have already achieved success in entering the US market, and we’re thrilled to accelerate our expansion in the US while continuing to grow in the UK.

“Closing a noteworthy investment round during these times demonstrates not only the opportunity ahead of us but also the progress hackajob has made in recent years. From an idea to a high-growth startup that raised a series A, we laid the foundations in 2019 and seized the opportunity that came with Covid, becoming the company we are today. It was a competitive process, and we’re pleased to partner with Sean and Volition Capital for our next growth phase, given their significant experience investing in leading HR Tech companies.”

The company has developed an effective platform for enterprises to expand their permanent technology teams. The platform offers a modular product suite that allows companies to directly access talent via their two-sided marketplace, create a compelling employer brand for their community of over 500,000 tech professionals, conduct online assessments and remote interviews, and generate powerful insights about their Diversity and Inclusion performance.

The platform is built on more than 50 million first-party data points on technical professionals that power their proprietary AI matching engine, resulting in an 85% response rate to messages sent through hackajob and reducing the number of applications required for a hire by seven times. One of their major clients is Sainsbury’s, whose tech function has grown to over 1,400 colleagues in recent years.

Sainsbury’s Chief Product & Analytics Officer, Helen Hunter, expresses that hackajob has been a crucial partner in the recruitment of top-notch talent in Sainsbury’s Tech, supporting the company’s digital transformation journey. From early-in career opportunities to senior strategic positions, the startup has helped Sainsbury’s hire across its roles, and they look forward to continuing this partnership in attracting more great talent.

Mark Chaffey, hackajob’s CEO and co-founder, explains that with the rise of Generative AI and Large Language Models, technology is undergoing a paradigm shift. hackajob has already incorporated these models into their candidate onboarding journey, and with the significant amount of first-party data they have, this investment round enables them to reimagine the hiring process for candidates and enterprises over the next decade.

Sean Cantwell, Managing Partner at Volition Capital, stated that “The tech employment ecosystem has outstanding growth potential in our digital-first world with increasing demand for software developers and engineers.” He added, “Hackajob’s offering, ambitious management team, and established network of high-quality tech talent has positioned the company for rapid expansion in the US market. We are confident in partnering with Hackajob to help them become the go-to destination for developers and enterprises alike.”

In addition to the funding announcement, hackajob is unveiling a new brand and visual identity created in collaboration with award-winning agency Droga5. The new brand celebrates the people behind technological advances, who are writing the code and shaping the future. While technology often takes the spotlight, hackajob recognizes and highlights the importance of the talented individuals who make it possible.

About hackajob

Technology drives the world forward with innovations such as self-landing rockets and groundbreaking AI. But it’s the talented people behind these products, writing the code that builds the future. That’s where hackajob comes in – connecting tech professionals with the companies that need them to keep driving the world forward.

With a candidate-centric platform, hackajob offers tech professionals the best-in-class experience where they can learn new skills, participate in community events, engage with employers, and find their next role.

On the other hand, the full-stack hiring platform enables companies to source talent through a two-sided marketplace, develop a compelling employer brand to more than 500,000 tech professionals, conduct remote assessments and interviews, and gain valuable insights into their diversity and inclusion performance. The platform leverages over 50 million first-party data points on technical professionals and proprietary AI models, resulting in an 85% response rate to messages and seven times fewer applications needed to make a hire.

The goal is to bring together the best talent and the companies that need them to continue building the future.

About Volition Capital

Volition Capital is a growth equity firm located in Boston that specializes in investing in high-growth, founder-owned companies operating in the software, Internet, and consumer sectors. Established in 2010, Volition currently manages over $1.7 billion in assets and has provided sub-advisory advice or invested in more than 40 companies in the US and Canada. Volition Capital selectively collaborates with founders to assist them in realizing their business’s fullest potential. For further information, please visit http://www.volitioncapital.com.