A consortium of Middle East investors have acquired stake in the online recruitment platform Bloovo.com for $3 million.
Established in 2016, Bloovo.com is an online recruitment website having around 1,800 employers as of May 2017. It is adopting data science and algorithms in the recruitment process as a means of eliminating the job mismatch problem. (Noble Partners led this investment round along with other investors including ProCapita HR Consultancy and Sulaiman Al Rubaie from Kuwait, Al Shafar, Al Serkal and Al Ghussain families from the UAE and Mohamad Moosa Abdulrahman Investment Office from Oman).
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More details follows from Khaleej Times
Bloovo.com on Monday announced that it has closed a $3 million funding round from various investors.
Noble Partners led this round, generating a great interest from investors including ProCapita HR Consultancy and Sulaiman Al Rubaie from Kuwait, Al Shafar, Al Serkal and Al Ghussain families from the UAE, Mohamad Moosa Abdulrahman Investment Office from Oman, and other GCC investors.
Bloovo.com, an innovative and fast growing algorithmic online recruitment platform, was born in Dubai Internet City in early 2016 adopting data science in the recruitment process. It has initiated its growth plan to solidify its market presence, strengthen its team and grab a larger market share. The portal continually gains momentum, rapidly growing its employers' base from 260 employers in 2016 to over 1,850 employers as of May 2017.
"We are obsessed with a big vision of becoming the most innovative online recruitment platform globally, gaining the unicorn status in the longer term," said Ahmad Khamis, Bloovo.com's co-founder and CEO.
The portal aims to accelerate the company's growth across the Mena region over the next 18 months, then internationally, and eying investors from Asia, Europe and the US to capture the huge potential of their growing business, said Khamis.
Scientific matching percentages, success probabilities, in-depth applicant analysis, candidate video pitches, among many other creative features mean the startup is at the forefront of online recruitment innovation, said Khamis.
Ammar Al Khushashi, managing partner at Noble Partners, said the venture capital industry in the Mena region is set to grow tremendously over the next 5 years, evidenced by the recent number of transactions completed in the region.
"This market is rich with opportunities and is rapidly growing, which positively affects the development of a more enhanced ecosystem," said Al Khushashi. "We have noticed a gradual shift in investors mindset to include technology investments within their portfolios, which is growing nicely in this part of the world."
Ammar Al Malik, executive director of Dubai Internet City, said the company has come a long way and turned what was a bright idea in 2015 into a valued technology business in only 18 months.
"Success stories such as that of Bloovo.com demonstrate how a supportive business community can make all the difference to aspiring entrepreneurs when bringing an idea to market," he said. (c) Khaleej Times more details here http://www.khaleejtimes.com/business/bloovocom-raises-3-million-to-boost-growth
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