Valor Capital led a US$4.6m investment in Revelo (formerly Contratado.me), a Brazilian job marketplace, with participation from Australian recruiting company Seek. Revels previously raised seed capital from Social Capital, Graph Ventures, and angel investors.
(TechCrunch) Revelo, a job marketplace that puts the responsibility on companies to contact candidates, has raised $4.6 million in its latest financing.
The company, unlike traditional job boards, puts high-end, high-profile Brazilian job seekers at the center of the search, and makes companies reach out to them.
Its latest round was led by Valor Capital, the Latin American-focused venture capital fund, with participation from the online Australian recruiting company Seek. Previously called Contratado.me, the company raised a seed round in 2015 from Social Capital, Graph Ventures and angel investors.
As Brazil’s economy improves, the competition for high-quality job candidates is getting more fierce, according to the company. Workers on Revelo upload their profiles and, once approved by the marketplace, begin getting interview requests from companies… with the potential salary the job pays.
The company’s focusing on careers like software development, design, online marketing and management consulting.
“We use machine learning and adaptive technical tests to offer a curated talent pool of engaged talent to our more than 1.500 clients,” said Revelo’s co-founder Lucas Mendes, in a statement.
Brazil has the fifth largest market for recruiting in the world — behind the U.S., China, Japan and the U.K., according to the World Employment Confederation.
That said, Revelo has global ambitions. While 1.5 million Brazilian white-collar workers used external recruiting services to find jobs — or had companies find them — Mendes said his company was “going after the $500 billion global industry.”
Money from the new round will go toward sales and marketing and product development, the company said.
Roughly 1,500 companies are currently using Revelo’s service, and it’s landed its users more than 1 billion Brazilian reals in job offers.