Talent.com raises $120 million in booming job platform market

Online job boards have been popular areas for venture capital funding since the initial dot-com boom more than two decades ago. Nonetheless, recent fundraising activity indicates that VCs still see many more opportunities for innovation and growth in the space.

Earlier today, the Montreal-based job search platform Talent.com announced that it had raised $120 million in a Series B funding round led by Inovia Capital and joined by new and existing investors. The company, which operates in 78 countries, also recently raised $30 million in debt financing to finance its expansion.

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The fundraising follows a period of strong growth. Talent.com has nearly tripled in size since Caisse de Depot and Placement of Quebec invested for the first time in 2019, according to a press release from the vice-president of the CDPQ Alexander Synnett. The company says it has 28 million unique monthly visitors worldwide and sends more than 50 million personalized job alerts daily to job seekers’ inboxes.

The increase in funding comes as startups in the field of job search and recruitment are attracting strong interest from venture capitalists. Labor markets in the United States in particular are historically tight as the economy emerges from the pandemic, with high levels of job slumps and many employers struggling to fill vacancies with skilled workers. But niche labor shortages are also a global phenomenon.

All this translates into very big rounds for job seeker platforms. Beyond Talent.com, some of the biggest funding recipients of recent months include:

  • Jobettalenta Madrid-based on-demand recruitment platform, raised $500 million in a Series E round in December.
  • apneaa Mumbai-based networking and job search app for entry-level and skilled jobs, raised $170m in rounds B and C over the past year.
  • Nomadic Healtha New York-based online marketplace for healthcare jobs, raised $63 million in a Series D round in September.

Illustration: iStock

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