Found Careers is an Australian Company Founded by Andrew Joyce and Peter Marchiori which could in theory change the way we look for employment opportunities. Just last July the company raised $1.5 million from 21 investors who saw the potential for the app. Such has been the success of the service so far that the company has been encouraged to raise additional capital to fund short to medium term expansion plans. So, could this Tinder style job app change the market?
Finding a job near you
When you bear in mind that Found Careers has only been going for two years and has just raised an additional $2.5 million from 20 of the original 21 investors, this bodes well for the future. The company has investor such as MYOB chief executive Tim Reid and the founder of Dimmi, Stevan Premutico who will both join the company’s advisory board. It is believed that the founders were not looking to raise any additional capital but “early traction” of the business and encouragement from existing investors has led them down this path.
App proves popular
In just a year the company’s new employer-to-employee app has smashed through more than 250,000 downloads. The company is also working on a corporate version amid rumours that a major supermarket chain and fashion retailer are ready to climb on board. The app itself is structured in such a way as to utilise the user’s profile and geography as opposed to endless streams of resumes, covering letters and emails. Once initial contact has been made then obviously there will be more information required but the ability to match suitable candidates with openings in their area could be priceless.
Early indications are that the 16 to 35-year-old market will see most growth in the use of the Found Careers app as they are seen as “early adopters”. We can only imagine the amount of time, money and effort this will save by matching suitable candidates with positions in their area.
Shaking up the market
Seek has been one of the leading lights in the recruitment area of recent times although the founders of Found Careers believe the company has had it too easy for too long. The fact that Found Careers is now processing around 200,000 job applications a month would seem to indicate a strong early take-up. The ability to work with third parties and recruitment companies must open a whole array of potential income streams going forward. If you sit back and think about it, the use of a Tinder style geo matching system makes perfect sense?
When you also take into account the amount of information held on a personal mobile phone perhaps it is easier to match individuals with particular positions than you might think. The company has now raised $4 million and is already processing 200,000 job applications a month. If the corporate service is as successful as the general service where might this leave the company?
Could this app be adapted worldwide?
The beauty of mobile phone apps is that they literally have a life of their own once they have been released into the public domain. This is the type of service which many people will find priceless in their quest for suitable employment positions in their region. In many ways the potential is endless as are the opportunities to add on different services.