06/08/2019 – Job portal site WOBB announced a pre-Series A funding worth US$1.3M from CAC Capital Investment Limited Partnership, Accord Ventures Inc and Actcelerate International Group Ltd. The funding round was facilitated by Cradle Fund Sdn Bhd.
“We are excited to continue to help our young talent build a strong foundation for life by first landing them the right job,” said Derek Toh, founder and CEO of WOBB. “Our vision is to be the largest youth platform in Asia, and successfully raising this round is an amazing endorsement and validation for us as we take another big step towards this vision.”
Takuya Maeda, President and CEO of CAC Capital, commented, “WOBB provides a means for companies to communicate their value… in a new perspective to Generation Y”. Takuya is confident in WOBB’s ability to gain traction and recognition in the Southeast Asia region.
While Fumihiko Ishimaru, founder and CEO of Accord Ventures Inc. commented, “It’s a very exciting opportunity to work with WOBB as an investor.” Fumihiko foresees a multitude of collaborations with WOBB made possible by the close ties shared between countries in the Asian region. As a Japanese company, he promises support from networks not only from Japan but also from other countries in the region.
Following the company’s immediate goal of dominating the hiring of Gen Y in Asia, the fresh funds will be used to accelerate growth and capture market share. The Malaysian based company also has an online presence in Manila with an Indonesian presence planned for late 2020. While a physical sales office in Manila will be established in 6 to 9 months.
Founded in 2014, WOBB is a leading job portal targeting Gen Y in Malaysia. WOBB aims to eradicate the youth unemployment issue in Asia, increase their individual earning potential and ultimately supports other aspects of the youth’s professional life.
Toh commented, “it is a vision to guide us about what we want to achieve in future, and helps us think about how we build our foundations to achieve that vision.”
WOBB also plans to evolve their tech-enabled recruitment service Hiredly.com through further product development. The website is building the largest community of young talents in Asia. They also promise a concierge-style recruitment experience for hiring employers.
WOBB claims to have processed over 1.3 million job applications so far.
This news is published on Reuters.