‘Virtual headhunting’ data firm secures £525,000 backing from EU-backed funds
JobsTheWord leverages social media sites to identify suitable candidates
‘Big data’ virtual recruitment firm JobsTheWord has secured a £525,000 venture capital investment, provided by EU-backed venture capital funds.
Founded in 2011 by IT specialists Will Crandle, Lee Harding and Keith Jones, JobsTheWord pulls data from social media and other sites to help companies identify suitable candidates for recruitment.
It claims this holistic approach significantly reduces the time and cost of searching for new employees, as well as allowing businesses to identify potential employees who may not be searching for a job.
Since launch the company has attracted a number of high-profile clients, including World Pay, BlackBerry, Samsung and Hewlett Packard, and claims to have millions of registered users.
The £525,000 investment was made by regional development fund the North West Fund for Venture Capital, which managed by investment firm Enterprise Ventures.
The funding was jointly provided by the European Regional Development Fund and the European Investment Bank – EU-founded initiatives partly designed to support enterprise in Europe.
It will be used to scale up JobsTheWord’s research and development arm as well as develop and expand its range of products and services into areas outside recruitment.
Daresbury-based JobsTheWord is one of a new crop of companies utilising ‘big data’ – processing and categorising the increasing amount of data available publicly over the internet.
The company has developed its own platform which uses algorithms to extract data on candidates from public blogs, social media profiles and other websites.
Keith Jones, co-founder of JobsTheWord, said: “The web is a treasure chest of information providing insights into all aspects of our working lives.
“Our system transforms it into a database packed full of talent, which not only helps employers save time and money, but also to reach out to those who are not actively searching for jobs and often the best candidates.”
Will Clark, investment director at Enterprise Ventures, said: “JobsTheWord is the first company in the UK to use big data in the recruitment sector, which could revolutionise the way employers search for staff.
“However, recruitment is just one application for the technology. This investment will help the business to expand the current activities and develop big data products for other sectors too.”