HeyJobs, a Berlin-based talent acquisition platform, announced that it has secured $47M in Series B financing led by Digital+ and FMZ ventures. Other investors, including Notion Capital, Heartcore Capital, and Creathor Ventures, joined the round.
How will the funding be used?
The German company will use the funds to push the application of AI in talent acquisition, supporting its mission of helping everyone find the right job to live a fulfilling life. The company is hiring both new and seasoned professionals across product, data science, engineering, and business roles.
Marius Luther, Founder & CEO says, “We are proud of the way we support companies to better and more cost-effectively achieve their hiring goals. But what really moves me is that we changed the lives of over 100’000 people by finding their next great opportunity. In 2021, we were responsible for around 1% of all German hires. And while this is a nice proof of our relevance, it still feels like Day 1 in terms of the long-term value we can create.”
In addition to the funding, HeyJobs has appointed Dr. Katrin Suder independent chairperson of the HeyJobs Board of Directors.
She has substantial experience as a board member and chair in listed and privately-owned companies such as Cloudflare. Suder was appointed by German chancellor Angela Merkel and her cabinet to chair the German Digital Council in 2018.
“My career has been focused on data, technology, business, and policy, and HeyJobs is a company that is at the intersection of those areas,” said Suder. “I look forward to supporting this exciting and highly needed mission.”
What does HeyJobs solve?
Marius Jeuck and Marius Luther founded HeyJobs in 2016 in response to Europe’s dramatically changing labor demographics. With the “boomer” generation nearing retirement, European employers are facing steep declines in finding skilled workers. Moreover, new online job boards are emerging every day, and it is not easy to find their way through the digital jungle. Here’s where HeyJobs plays a crucial role.
HeyJobs helps employers recruit essential talent across 100 different professions, including lorry drivers, nurses, or electricians. The company differentiates through its unique data set and proprietary machine learning algorithms.
“Whilst 5 years ago, we could identify who is a nurse versus a driver, our AI has now learned to identify who is a qualified intensive care unit nurse that seeks to do 3-night shifts”, says Marius Luther, Founder & CEO of HeyJobs.
The company aims to become the leader in the European Career Platform for essential talent.
“It’s crazy how we as a society have neglected the largest share of the workforce – 30 million alone in Germany, over 200 million essential talent in Europe – for decades. They deserve better,” he says.
As per the company’s claims, the talent platform is used by hundreds of thousands of jobseekers and over 2,700 employers from SMEs to the larger organisation.
So far, HeyJobs clients have made over 100,000 hires totalling €5B in annual wages. The startup currently employs over 300 employees from over 30 nations.
Digital+ Partners is a technology growth equity investor focused on DACH and European technology companies with over $800M assets under management. The VC firm provides entrepreneurs with strategic advice and long-term financial support to help them define and execute their growth plans. Digital+ Partners focuses exclusively on B2B technology companies.
“HeyJobs is very well positioned to become the international category leader for recruiting essential talent” says Patrick Beitel, Founding Partner and Managing Director at Digital+ Partners. “In combining an excellent team, a mature technology-driven organization and a product proposition that is building on two pillars, essential talent and employers, HeyJobs is ideally equipped to accelerate its growth in Germany, Europe and beyond.”
Michael Zeisser of FMZ Ventures, former Chairman Alibaba Investments and an investor in numerous marketplaces explains his investment as: “HeyJobs is a leading next-generation company in the emerging Experience Economy; its purpose is to provide users the economic opportunity to realize their full human potential; it is a privilege to support this team and its mission.”