Job.com Secures IP-Backed Growth Financing from Serengeti Asset Management and Ghost Tree Partners
AUSTIN, Texas and LONDON, Nov. 29, 2022 /PRNewswire/ -- Job.com, the AI-enabled technology recruitment platform, has secured an undisclosed investment from two New York and California-based financial institutions, Serengeti Asset Management and Ghost Tree Partners. The investment will accelerate the delivery and development of Job.com's technology and fund further acquisitions in the recruitment and staffing sector.
"We are delighted to have Serengeti and Ghost Tree as capital partners," said Paul Sloyan, Job.com CEO and Chairman. "Their support will allow us to accelerate our revenue growth by leveraging further development of our technology and additional acquisitions to complement the eight staffing and technology businesses we have previously acquired."
The financing investment, provided by Serengeti and Ghost Tree, builds upon previous investment and financing rounds with New York-based SOJA Ventures and Serengeti, which provided financing for Job.com's M&A strategy, including its June 2022 acquisition of recruitment processing outsource (RPO) firm, Princeton One.
"Serengeti has already proven to be a supportive partner to Job.com, enabling us to close our most recent acquisition without any delays in the summer," explained Sloyan. "They recognize and understand our vision in terms of our disruptive technology as well as our strategy to acquire successful and established recruitment businesses with unique and vital data to train our AI while adding revenue and positive EBITDA. Now that Serengeti and Ghost Tree are strategic financial partners, we are in a great position to continue growing Job.com through technology and acquisitions."
Job.com has made a total of six acquisitions since the summer of 2020, a strategy the company intends to continue.
"We are delighted to grow our investment in Job.com," said Jody LaNasa, Founder, Managing Partner and Chief Investment Officer of Serengeti Asset Management. "We firmly believe that Job.com's industry-transforming technology dramatically improves the recruitment process for its clients, and that its roll-up strategy of acquiring firms, and then applying its technlogy to them, will result in significant value accretion while compiling large databases to mine."
Job.com is a digital recruitment innovator with a unique perspective: Delivering technology and capabilities that shake up the market by bringing together a data-driven approach based in AI and machine learning with high-level, human-capital-delivered solutions, designed to efficiently attract and retain the right talent and provide consumer-level user experiences throughout the hiring process. This combination provides true value and control to jobseekers, companies, and recruiting teams resulting in more effective talent acquisition, better-fit career moves, and a more human hiring experience. Job.com's solutions are growing and evolving rapidly to serve multiple segments of the market and will come to represent the place where individual jobseekers manage their career path and employers find their next hire.
Job.com's mission is to transform talent acquisition with smart technology and a human-first approach.
To learn more about Job.com visit www.job.com or follow us on Twitter and LinkedIn.
About Serengeti Asset Management
Founded in 2007 by Jody LaNasa, Serengeti is an opportunistic, value-driven investment firm focused on providing flexible capital solutions for innovative private companies and their shareholders. Our capital solutions seek to address complex situations through structure and creativity. Serengeti manages capital for institutional investors, including pensions, endowments and large family offices.
For more information visit: www.serengeti-am.com
About Ghost Tree Partners
Headquartered in Irvine, CA, Ghost Tree Partners is an alternative asset manager focused on providing private credit financing solutions to small- and middle-market borrowers in the US, Europe and Asia. Founded in 2021, the firm is led by Mark Fox, Scott Warner, Jeff Willardson and David Byrne, who combine for over 85 years of investment experience with Goldman Sachs, Bain Capital Credit, Fidelity and PAAMCO Prisma (KKR affiliate). The team has invested billions of dollars on behalf of the world's most sophisticated investors throughout their careers. Ghost Tree's private credit financing solutions include corporate cash flow loans, specialty finance, asset-backed lending and real estate bridge loans.
For more information visit: https://gt-gp.com/
About SOJA Ventures
New York-based SOJA Ventures is a private Family Office and alternative investment firm investing venture debt and equity in technology-focused growth companies. SOJA Ventures is an extension of the Swig Family Office, Swig Equities, and a unique combination of a private Family Office organization with experienced growth advisors who specialize in less dilutive and structured debt, alternative financing credit, and equity investments in lower middle market companies.
For more information visit: www.sojaventures.com
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