Adzuna secures £8 million in latest funding round

Job search engine, Adzuna, headquartered in the UK and operating in South Africa, has announced that it has raised £8 million from Smedvig Capital.

The Series C funding round sees Smedvig join backers Index Ventures, Passion Capital, LocalGlobe and over 400 Crowdcube investors and takes the company’s total funding to £12 million.

Adzuna attracts 10 million visitors a month across 16 countries including South Africa, and generates well over £1 million in monthly revenue.

The company said that the new funding will be used to grow in the UK and internationally and invest in Adzuna’s technology, building on a search and machine-learning platform that brings together millions of job ads in one place, and adds smart search options and powerful data about the job market.

Key priorities for 2018 and beyond include expanding the company’s development and data science teams, rapidly expanding the recently-launched US market and growing international operations.

Doug Monro, co-founder of Adzuna, said: “The business is already profitable, but we’ve decided to raise this round to grow even faster. Working with Smedvig has been a pleasure and they were a natural choice for the next stage of our growth.

“Their particular brand of patient capital delivered by an experienced, analytical team stands out from the boom or bust approach of some other VCs. We look forward to achieving great things together.”

Robert Toms, MD of Smedvig, said: “It’s fantastic to see them winning an important government contract in the UK at the same time their international expansion is gathering pace. We believe the innovations they continue to bring to the market will change the way people search for jobs, globally.”

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