Myanmar-based jobs portal JobNet has raised an undisclosed 7-figure funding in a Series A round led by institutional investors. An official press release said that these investors have strong experience developing online classifieds businesses.
The newly-raised round will be channelled towards boosting JobNet’s presence in Myanmar.
Founded by Justin Sway and Matt De Luca, JobNet has major employers, such as Ooredoo, MPT, UniLever, Capital Diamond Star Group, KBZ Bank and Manpower Group using its platform.
It previously raised two rounds of funding — a seed funding in 2013 by Sway, and another round in 2015, with Sway participating again and joined by Jonah Levey, founder of Vietnam-based portal Vietnamworks.com.
“We are delighted to welcome our new investors; it’s a real testament to the phenomenal traction and results we have achieved. Our new investors bring a wealth of knowledge and IP, with a proven track record in building successful online job portal businesses globally,” said Sway, in an official press statement.
“This, combined with our strong, local and numerous years of business experience, will further accelerate JobNet as the number one player in the job portal space in Myanmar. The JobNet team is doing an outstanding job in all areas of the business,” he added.
Although Myanmar, as a frontier market, has a relatively nascent technology industry, JobNet already has a competitor — Rocket Internet-backed Work.com.mm.
Image Credit: JobNet
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