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Continuing the recruitment platform investment theme (see SaaS search firm Invenias finds $1.5m funding), another unlikely suspect – UK- and Spain-headquartered Jobandtalent – has attracted €2.5m of funding led by Spanish VC Kibo Ventures et al, adding to the €1.1m of prior angel funding.
The announcement also introduced me to a novel use of the word ‘pivot’ (though maybe I lead a sheltered life) as in ‘a sudden shift in business strategy’ – presumably because the last one didn’t work. Some may call it ‘suck it and see’ but that might be deemed too cynical. Anyway, Jobandtalent had apparently ‘pivoted’ many times before hitting on its latest strategy which is to apply a ‘linguistics-based algorithm’ to match employers’ job ads with prospective employees’ CVs.
The funding aims to improve the matching algorithm from its current 50% accuracy. I feel the money may be better spent fixing up their website which hits a brick wall when you want to ‘learn more’ about any of their products and pricing.
