JobLab is transforming recruitment for candidates and employers by making it quicker and easier to connect graduate talent with meaningful careers. JobLab pays job-seekers JobLab Tokens for creating a profile, responding to messages, and using the platform to its full potential.
In 2014, while searching for a job, Aidan Cramer became disillusioned with job boards. He realised that if there wasn't a better way to find meaningful employment, one would have to be built. The team set out to create a candidate-first online platform that helped graduates get discovered and let employers find and hire the best talent efficiently, without the need for an agent. In 2018, JobLab saw 240% annual growth, generating £240k in revenue (EBITDA -£62k).
There was an appetite for what JobLab had to offer. But what made it different? JobLab introduced JobLab Tokens. With these, the platform rewarded users for their data and attention. It ensured users gave themselves the best chance at finding work, and afforded employers the recruitment-agency experience without the need for an intermediary. JobLab's response rates are now 5x better than its largest competitor, LinkedIn. The platform’s job-fill rates are in line with the leading graduate recruitment consultancies.
The global recruitment market, dominated by traditional service providers, is worth over £200bn annually. Now is the time for JobLab. The platform has attracted over 30,000 job-seekers and has built an efficient revenue engine. With this round of funding, JobLab can take advantage of the clear market opportunity, and become known as the careers marketplace rewarding job-seekers and helping them get discovered.