South African hiring marketplace OfferZen has successfully closed a €4 million (R82 million) funding round from top-tier investors, including Michael Jordaan’s AI fund.
OfferZen was founded in November 2015 by brothers Malan and Philip Joubert to make it easy for developers to find great job opportunities.
The founders initially funded the business without any outside investors. Despite bootstrapping the business, it enjoyed rapid growth.
Thanks to its attractive offering, OfferZen became a leading job marketplace for companies to hire developers in South Africa.
More than 2,000 companies, ranging from startups to large technology giants, use OfferZen to hire developers.
Since its launch, it has operated on a commission model, where companies pay Offerzen when they hire a software developer using the platform.
However, in 2023, OfferZen introduced a fixed-fee unlimited hiring subscription. It allows companies unlimited hires at a flat fee.
“It’s always scary making a big change to your business, but fortunately, our fixed-fee unlimited hiring subscription worked,” said OfferZen co-founder Philip Joubert.
In January 2024, OfferZen closed €4 million in funding to further expand the business in new territories and grow its market share.
The investment round saw participation from Invenfin, represented by partners Peter van der Zee and Theo van den Berg.
Another high-profile participant in the funding round was AI Capital, with partners Roger Grobler, Nic Kohler, Willem Roos, and Michael Jordaan.
As part of the funding round, OfferZen also announced that Matt Beck, the company’s former VP of marketing, will replace Philip Joubert as CEO.
Beck said customers can expect the most significant updates to the platform yet in the coming months.
The improvements include the introduction of new ways for candidates and companies to connect using AI.