Hyperjob, a Latvia-based HRTech company, announced that it has raised €435,000 ($473,832) in a funding round led by venture capital fund SMOK.vc, with the participation of angel investors Davis Siksnans, Einar Roosileht, and other undisclosed parties, according to a report.
With the latest investment round, the startup plans to launch new product features and continue its expansion across European and US markets.
Co-founded by Janis Kreilis, Juris Sorokins, and Roberts Tomme in 2021, Hyperjob is a recruitment CRM that leverages marketing know-how to empower companies to secure top talent in a competitive market. The platform helps recruiters attract more candidates by creating interactive vacancy pages and modern, branded job ads. It also enables automated and personalized LinkedIn and email outreach and AI-driven candidate suggestions.
Sharing about the company, Co-founder & CEO of Hyperjob, Janis Kreilis, said:
Job pages look the same as they have for 100 years, but candidates’ demands have changed, and so have the technologies at our disposal. There’s a huge talent shortage, and we must rely on inbound applications. We have to change the way we think about recruitment, like marketing, rather than selection.
The firm has piloted its offering in the Baltics, DACH, CEE, the UK, and the US. Hyperjob said the results indicate a 300-600% increase in conversion rates, with 70% of candidates stating that they preferred its vacancy pages to regular job ads.
Commenting on the fundraising, Founding Partner of SMOK Ventures, Borys Musielak, added:
The team behind Hyperjob knows the ins and outs of recruiting as they had their agency and learned it first-hand, serving their customers. They can also build and test software quickly with minimal resources, a crucial feature of an early-stage startup. The scrappiness of the team, a great early product, and a huge market waiting for disruption made it a no-brainer to invest in Hyperjob.
Hyperjob had previously raised $110,000 from Antler and €40,000 from Overkill VC in a pre-seed investment round in 2021.