OfferZen, a South African platform for hiring developers, has successfully secured a US$4.3 million funding round from renowned investors and announced adjustments to its workforce and business model.
Invenfin and AI Capital were the latest backers of the startup’s funding round.
OfferZen is a developer hiring marketplace that was founded in 2015 and launched in 2016 to help businesses accomplish more with less. It links screened, job-seeking developers with openings at more than 2,000 South African and international companies.
“Securing this funding from investors who share our long-term vision is a testament to our team’s hard work,” said OfferZen co-founder Philip Joubert. “We couldn’t be more excited to partner with investors that bring so much experience. Their support and capital investment will help us make a lot of product improvements over the coming months.”
“It’s always scary making a big change to your business, but fortunately Unlimited worked,” said Joubert. “It’s easy to budget for, competitively priced, and we hoped it would relieve some of the pressure our customers were feeling. A significant number of our customers have moved to the subscription model over the last year.”
Joubert is stepping down as CEO after three years, and Matt Beck, a former vice president of marketing, will take over.
“Matt has been instrumental in levelling up our business for scale, loves our brand and has been a great champion of our values. I’m glad to be able to call him my new boss,” Joubert remarked.
“I’m really excited about this year,” Beck said. “Our customers can expect the most significant updates to the platform yet in the coming months as we’re introducing completely new ways for candidates and companies to connect using AI.”
Additionally, the company disclosed changes to its business model. Given that 2023 was a difficult year financially, OfferZen saw right away the difficulties that its clients faced. In an effort to lessen the financial strain on software organisations, OfferZen added a fixed-price unlimited hiring subscription to the standard per-hire fee.
Read more on Tech Gist Africa:
E4E Africa, based in South Africa, has announced the first closing of its US$30 million Fund II.
TUNL, a parcel shipping platform in South Africa, has received $1 million in pre-seed funding
GoMetro, a startup based in South Africa, has raised $11.5 million in a Series A funding
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