Social recruiting startup Wanted raises $9m

Wanted, a referral-based recruiting platform in South Korea, has raised an additional US$9 million in new funding, following its US$9.8 million raise in a series B round in 2017.

Atinum Investment and CompanyKPartners joined as new investors, with existing backers Industrial Bank of Korea, Korea Investment and Co. Ltd., and Mirae Asset Venture Investment also participating in the latest funding.

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Users on Wanted can refer a candidate for a job and earn a reward if the candidate gets hired for the job.

“Leveraging both human relationships and machine learning technology, we aspire to become a social career platform that continues to explore ways to improve the lives and happiness of workers globally,” Wanted CEO and co-founder Bokkee Lee said.

The company said it has analyzed the hiring data of companies and job seekers with more than 70% accuracy, helping companies source talent efficiently.

“Wanted has started to diversify its platforms by launching new services such as MatchUp (resume search service), using data accumulated in the past four years,” Kim Yoon-ji, an appraiser at Atinum Investment, said.

Wanted claims to be matching more than 800,000 users with 5,000 companies across five Asian countries, namely Korea, Singapore, Hong Kong, Japan, and Taiwan. It said it’s experiencing a 20% growth in its monthly revenue this year.