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Smedvig Capital Invests $13.8m in job search engine Adzuna

adzuna tech investment fundraising

Job search engine, Adzuna (www.adzuna.ca), has today announced that it has raised $13.8m from Smedvig Capital. The Series C funding round sees Smedvig join backers Index Ventures, Passion Capital, LocalGlobe and over 400 Crowdcube investors and takes the company’s total funding to $20.8m.

Founded in 2011 by the team behind Gumtree, Zoopla and Qype, Adzuna has also launched Find a job this week. Previously known as Universal Jobmatch, the service is one of the UK government’s largest websites, connecting millions of jobseekers with thousands of employers online and through job centres around the country.

Adzuna has grown from its roots in the UK to become one of the world’s leading job search engines, attracting 10m visitors a month across 16 countries, The site generates well over $1.7m in monthly revenue and has helped hundreds of thousands of people find jobs. With over 5,000 sources of jobs, 7m registered users, millions of CVs, and a recent launch in the United States, including its innovative ValueMyResume tool, the company is on a strong growth trajectory.

Alongside the fundraising, and following a competitive procurement process, the company has this week launched Find a job, replacing Universal Jobmatch. As one of the largest online government services, Find a job connects millions of jobseekers with thousands of employers online and through job centres around the UK.  The new website offers a fast, simple experience and powerful search using Adzuna’s technology, matching job seekers to employers’ available roles quickly and effectively.

The new funding will be used to grow in the UK and internationally and invest in Adzuna’s technology, building on a market-leading search and machine-learning platform that brings together millions of job ads in one place, and adds smart search options and powerful data about the job market. Key priorities for 2018 and beyond include will be expanding the company’s cutting-edge development and data science teams, rapidly expanding the recently-launched US market and growing international operations.

Doug Monro, co-founder of Adzuna, commented: We are proud of the world-class team and platform we have built at Adzuna, and are well on our way to achieve our mission of helping millions of people globally to find better, more fulfilling jobs. The business is already profitable, but we’ve decided to raise this round to grow even faster. Working with Smedvig has been a pleasure and they were a natural choice for the next stage of our growth. Their particular brand of patient capital delivered by an experienced, analytical team stands out from the boom or bust approach of some other VCs. We look forward to achieving great things together.

Robert Toms, Managing Director of Smedvig, commented: “We’re delighted to be working with Andrew and Doug, experienced entrepreneurs with great track records.  The Adzuna team has achieved a great deal in recent years. It’s fantastic to see them winning an important government contract in the UK at the same time their international expansion is gathering pace. We believe the innovations they continue to bring to the market will change the way people search for jobs, globally.”

-ENDS-

 

About Adzuna:

Adzuna is a search engine for job ads used by over 10 million visitors per month that aims to list every job, everywhere. We search thousands of websites so our users don’t have to, bringing together millions of ads in one place. By providing smarter search options and powerful data about the job market, we give jobseekers the information they need to take control of their careers.

Adzuna was founded in 2011 by Andrew Hunter and Doug Monro, formerly of eBay, Gumtree, Qype and Zoopla and is backed by leading Venture Capital firms Passion Capital, LocalGlobe, Index Ventures, and now, Smedvig Capital.   

We also supply real-time data to the Number 10 Dashboard and Office for National Statistics labour market indices. In  2018, Adzuna won the contract to run Find a job, one of the British government’s most used online services.

Adzuna’s mission is to be the best place to start looking for a job. We love using the awesome power of technology to help match people to better, more fulfilling jobs and keep Britain working.

About Smedvig Capital:

Smedvig Capital is a London based growth capital investor. We are now investing our 14th fund, having deployed more than $800M over the last 20+ years in Series A and Series B funding rounds.

We are passionate about finding and supporting the best tech enabled businesses in the UK and Nordics. We pride ourselves on developing a deep understanding of the sectors we invest in. We have a track record of reinvesting multiple times to support our portfolio. We roll up our sleeves and get involved when you want our help.