NEXT176, a venture business with strategic backing from Old Mutual, has unveiled a R27 million investment in JOBJACK, a dynamic South African tech start-up at the forefront of reshaping entry-level recruitment.
JOBJACK is poised to revolutionize the job market in South Africa by tackling issues of access and affordability for job seekers. By eliminating costs associated with traditional job-search methods, such as CV printing and transport, JOBJACK enables candidates to apply directly from their mobile phones. The platform has also made strides in enhancing accessibility by offering data-free access for MTN and Vodacom network users.
The recent pre-Series A funding round, led by NEXT176 and supported by the Michael & Susan Dell Foundation, marks a significant milestone for JOBJACK, injecting R45 million into the tech start-up. Co-founded in 2018 by two young chartered accountants, Christiaan van den Berg and Heine Bellingan, JOBJACK boasts a user base of 2 million job seekers, with around 2000 new registrations daily. This funding infusion is set to propel JOBJACK’s expansion, enabling it to serve an even broader network of employers and job seekers across the country.
Tramayne Monaghan, Chief Ventures Officer at NEXT176, expresses enthusiasm about the investment, stating, “Our mission at NEXT176 is to build and invest in disruptive businesses that are not only sustainable but also have the power to change lives. JOBJACK’s innovative approach to redefining entry-level recruitment in South Africa perfectly aligns with this vision.”
Several leading South African employers, including PEP, Food Lover’s Market, McDonald’s, KFC, DSV, and others, have already embraced JOBJACK, utilizing the platform to connect with potential employees.
As JOBJACK continues to reshape the landscape of entry-level recruitment, NEXT176 remains committed to catalyzing positive change through strategic investments. Monaghan emphasizes, “In addressing jobseekers’ pain points, we believe in the ripple effect of JOBJACK – how changing one life can set in motion a chain reaction of positive change, paving the way for a more inclusive future for South Africans.”