Venture fund White Hill Capital has invested $500,000 in the Ukrainian-British recruiting service JobCannon, valuing it between $5-10 million.
The funding round was facilitated by the World Bank, as reported by Forbes. JobCannon secured its initial $500,000 from the Kazakh venture fund White Hill Capital, which has $50 million in investments.
CEO and co-founder of JobCannon, Peter Kolomyiets, did not disclose the exact valuation of the company but stated that it falls within the range of $5-10 million.
Kolomyiets commented, "Our investor is helping us enter the global market of corporate recruiting, which has long required significant process reformatting and improvement."
Peter Kolomyiets
JobCannon is an AI-based recruiting startup that matches candidates and employers based on candidates' skills and abilities. Founded in 2022, it began its development with the acquisition of the well-known recruiting agency in Israel, Digital Hunters. This allowed the startup to integrate its SaaS product with the successful experience of the recruiting agency.
On the JobCannon website, it is indicated that there are currently 3,543 job vacancies posted, and 358 candidates found employment in 2023. The startup has 500 business clients and approximately 60,000 users.
"Andriy Cherednychenko, Marketing Director and co-founder of JobCannon, asserts, 'The hiring algorithms that everyone is accustomed to no longer work, both for companies and for individuals.'"
