WayUp raises $18.5 million to help millennials find their dream jobs

ENTREPRENEUR

WayUp raises $18.5 million to help millennials uncover their dream jobs

Tags: BoxGroup, Female Founders Fund, funding daily, Index Ventures, LinkedIn, SV Angel, Trinity Ventures

WayUp team

Above: WayUp workforce

Image Credit score rating: WayUp

Millennials will typically change jobs numerous cases as they search the precise match. WayUp wants to help them pursue their workplace wishes with a job market, and launched at current that it has secured an additional $18.5 million in funding.

“On average, millennials are expected to jump jobs four times in their first decade out of college,” wrote WayUp’s cofounder and CEO Liz Wessel, in an e mail to VentureBeat. “However, we believe WayUp’s technology will change that.” The startup makes use of machine learning to refine searches and execute larger matches between faculty college students in U.S. faculties and hiring companies.

The service is free for school college students and updated grads — WayUp generates revenue from the employers who pay a month-to-month value primarily based totally on the size of their agency and the choices they select. WayUp claims to have over three.5 million prospects and lists jobs from over 300,000 utterly completely different companies, which embrace Fb, Google, and The New York Events.

WayUp website and app

Above: WayUp website online and app

Image Credit score rating: WayUp

Rivals is fierce. Corporations like Definitely, Glassdoor, and naturally, LinkedIn, current serps to hunt out jobs. WayUp recently acquired one in every of its main opponents, Looksharp, for an undisclosed amount.

Nonetheless Wessel cites two completely different types of opponents that she hopes to crush. “Career fairs and nepotism!” she wrote. “Career fairs are inefficient events that cost millions of dollars for companies who end up just going to a few schools and therefore not recruiting from everywhere they want.”

Trinity Ventures led at current’s spherical, with participation from present merchants Regular Catalyst, BoxGroup, Lerer-Hippeau Ventures, Index Ventures, SV Angel, Female Founders Fund, Axel Springer, CAA Ventures, and OurCrowd.

Based in New York Metropolis, WayUp was primarily based in 2014 and has raised a whole of $27.5 million so far. The model new capital shall be used to hire engineers and to further develop the platform’s machine learning capabilities.

WayUp at current has 51 staff.

Be part of Funding Daily: Get the newest info in your inbox every weekday.