Social recruiter Tribehired funded US$560K by TNF Ventures
Tribehired, a social recruitment website, has announced that it had just raised a S$696K (US$560K) seed funding round led by TNF Ventures (TNF). The round was also participated by Singapore angel investors Ben Ball and Ben Chew.By Jacky Yap 25 Mar, 2013
Founded in June 2012, Tribehired is a social recruitment website dedicated to creating a new experience in job seeking by enabling users to tap into various networks. Using community-driven referrals and engagement, candidates are introduced to companies that have been selected and recommended by key individuals within their respective industries.
Tribehired is currently in intensive beta testing with several thousand users in Malaysia providing feedback around real job opportunities. A full international launch will follow shortly as the team reflects its learning in the service online. Although still in beta testing, some of the active clients using Tribehired include Zalora, Lazada, Flocations and Brandtology. The service currently covers Singapore and Malaysia and focuses on innovative businesses that offer job seekers opportunities in businesses with a flat hierarchy and positive social impact.
The investment will be used to grow Tribehired’s team to expand both the number of job candidates on the system and the range of businesses using the service. The investment also marked TNF’s second investment into JFDI’s portfolio company, following its recent investment into online travel startup Flocations.
Devan Singaram, Founder of Tribehired, said: “Today’s investment is crucial to the next stage of Tribehired’s development and not just because it brings us cash to fund our growth. In TNF we have access to a team of veteran entrepreneurs who have proved they know how to manage fast growth. Meanwhile Ben Chew brings specialist domain insight around recruitment. It’s great to have that kind of support behind us as we scale up rapidly.”
Preceding today’s announcement, Tribehired received pre-seed funding from Cradle Fund Sdn Bhd, a government agency under the Malaysian Ministry of Finance. Tribehired was also a participant in the JFDI-Innov8 2012 accelerator program operated by JFDI.Asia. In total, 7 out of 11 of its start-ups have now raised S$3.9m (around US$3.15 million) between them, going from idea to investment in 100 days and creating around 40 jobs along the way.
Flocations Singapore Flocations.com is a popular online travel discovery tool that helps users discover travel packages that suit their wish. Latest funding: Not specified Investors: Not specified
Cradle Fund Malaysia Cradle Fund Sdn Bhd (Cradle) supports the development of entrepreneurship in ICT, bio-technology and life sciences, material sciences, and other high growth technology industries. Funded Startups: Not Funded