Work4 Raises $7M To Rival Job Sites With Its Social Network-Based Recruitment App
Summary
Work4, an online recruitment startup that uses social networks to advertise and find leads for job vacancies, has picked up another $7 million in funding that it plans to use to expand further into markets outside the U.S., and the scope of its product. Prior to this, Work4 had raised $11 million from Matrix as well as a number of prominent, strategic individuals, including Yuri Milner, former Monster.com president Steve Pogorzelski, and Hearsay Social co-founder and CEO Clara Shih. Work4 — in the words of Stéphane Le Viet, its French co-founder and CEO — is attempting to go after what he calls the “highly inefficient” online recruiting market currently dominated by the likes of Monster.com and Indeed.com by tapping into the amount of time that people spend on social networks. Their fans can become their hires.” Work4 already works with thousands of businesses such as Gap, AIG, Intel, L’Oreal, Groupon and Hard Rock Café. These days, however, the company is not quite as Facebook-dependent — not a bad thing considering that dependency on one single platform has proven to be a hard road to take (hello, Zynga) and has made a lot of headway into working with other social networks, too.