Online job board Bossjob received $5 M funding to strengthen efforts for globalization

Bossjob, a Philippine online job board, has received $5 million in funding to advance its efforts to go global.

Following the investment, the company declared in a statement on Friday that its globalization strategy has now been formally launched.

This month, the company is expanding into the markets of Singapore and Indonesia, with plans to enter the Hong Kong market during the third quarter of 2023.

By 2026, it also planned to serve more than 30 million users in Southeast Asia.

This year, Bossjob is providing free trials to businesses in an effort to expedite its expansion goals.

It should be noted that the company in the Philippines had more than 2.9 million registered users.

This represents an important turning point for Bossjob, which entered the Philippine market in 2018 at a time when the country’s employment market was still largely conventional, necessitating innovation.

“Legacy recruitment websites, created in the Web 1.0 era, have outdated matching capabilities and business models based on selling job ads and resumes, which do not meet the expectations of companies nowadays in terms of efficiency and effective cost per hire,

“Some firms rely on headhunters, but their high commission rates, typically 20 percent to 30 percent of a hire’s annual salary, pose a significant burden for small and medium-sized enterprises (SMEs),” said Bossjob Co-Founder and Chief Operating Officer Kiat How Quak.

The team recognizes the opportunity and has since concentrated on increasing hiring effectiveness by providing direct chat and extremely precise artificial intelligence (AI)-matching for both talents and employers on Bossjob’s mobile application, according to the statement.

More than 10,000 businesses are currently using their platform in the Philippines, including well-known companies like SM Investments Corporation and Accenture as well as BPO providers like Acquire BPO Philippines and Foundever.

Bossjob is a Southeast Asian chat-first recruitment mobile software that focuses on online direct hire and talent matching. It enables bosses and talents to communicate quickly via direct chat and revolutionizes the hiring process with quick, accurate talent matches and interview scheduling in today’s fast-paced job market.

With its ground-breaking MDD model of “mobile + direct chat + AI-matching,” the company entered the Philippine market and popularized direct chat in the employment industry.

The platform recommends highly qualified and engaged candidates to employers and pertinent job opportunities to job seekers with the aid of cutting-edge artificial intelligence technologies and big data.