Otta, a start-up dedicated to helping job seekers find roles at the world’s most innovative companies, has secured £850k in seed funding, led by LocalGlobe.
It takes aim at the recruitment market which is worth £35 billion in the UK and $150 billion in the USA.
3 months since starting, Otta has built a job search product covering 2,500 roles from well-known brands like Revolut, Deliveroo and Spotify, and emerging leaders such as WhiteHat, Elvie and Cuvva. Otta plans to include roles from the world’s most innovative companies.
Backed by some of the most successful entrepreneurs in Europe – including Paul Forster, co-founder of Indeed – Otta is the job search experience that puts the job seeker first, providing the most relevant and personalised job recommendations.
Otta uses technology to produce structured and enriched data about jobs (e.g. visa sponsorship, technologies used and years of experience required). Jobs are shown one-at-a-time instead of in a list format, meaning Otta collects more feedback about what job seekers like and dislike.
CEO and co-founder Sam Franklin commented: “We started Otta to reinvent a broken industry that wasn’t putting candidates first. Recruiters charging 15-30% of salary can only offer jobs from their clients. LinkedIn orders its search results by the companies paying the most, not what’s best for the candidate.”
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“We have committed to only making money in a way that improves the experience for candidates. For example, this means we don’t charge companies to post jobs, so we can give candidates access to all of the world’s most innovative companies.”
“This investment is a huge step in achieving our mission of being the platform that helps people make smart career moves. We’re starting by building the best job search, and soon we’ll tackle challenges like helping you decide when to move jobs and how much of a pay rise to ask for.”
Remus Brett, Partner at LocalGlobe said: “At LocalGlobe we are surrounded by high growth tech companies that find hiring phenomenal talent extremely challenging. At the same time, candidates struggle to discover the best places to work.
“There is a huge opportunity for Otta to improve matches in this marketplace.”