OfferZen, a South African platform for hiring developers, has successfully closed a EUR4 million (US $4.3 million) funding round from elite investors. The company has also announced some staff changes and a reformatting of its business model.
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.
The startup has now raised an additional US $4.3 million from Invenfin and AI Capital, following a US $5.1 million funding round in 2021.
“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.”
The business model changes have also been announced by the company. Given that 2023 was a challenging year financially, OfferZen was able to personally observe its clients’ hardships. OfferZen added a fixed-fee unlimited hiring subscription to the standard per-hire fee in order to lessen the financial strain on tech companies.
“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 said.
“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.”
