Job search engine Adzuna lands £8m from Smedvig Capital


Job search engine Adzuna has closed a £8m Series C round led by Smedvig Capital.

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

Founded in 2011 by the team behind Gumtree, Zoopla and Qype, Adzuna claims to attract 10 million visitors a month across 16 different countries.

The site, the company says, generates more than £1m in monthly revenue.

According to a press release, the money will be used to grow in the UK and internationally and invest in the firm’s proprietary technology.

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

Doug Monro, co-founder of Adzuna, said: “We are proud of the world-class team and platform we have built at Adzuna, and are well on our way to achieve our mission of helping millions of people globally to find better, more fulfilling jobs. 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,managing director of Smedvig, concluded: “We’re delighted to be working with Andrew and Doug, experienced entrepreneurs with great track records.  The Adzuna team has achieved a great deal in recent years. 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.”

Photo by Olu Eletu on Unsplash