WOBB Raises RM5.4 Mln Investment

KUALA LUMPUR, Aug 6 (Bernama) -- WOBB, a Gen Y specialised job portal based in Malaysia, has announced an investment of RM5.4 million from CAC CAPITAL Investment Limited Partnership (CAC CAPITAL), Accord Ventures Inc (Accord Ventures) and Actcelerate International Group Ltd (AIG). The funding round was arranged by Cradle Fund Sdn Bhd (Cradle). “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,” WOBB founder and chief executive officer (CEO) Derek Toh said in a statement Tuesday. The funds would be used to accelerate growth and capture market share, with the company’s immediate goal being to dominate Generation Y (Gen Y) hiring in Asia. WOBB also plans for further product development to evolve their tech-enabled recruitment service Hiredly.com, which is building the largest community of the best young talent in Asia while providing a concierge-style recruitment experience for employers to hire them. Their latest investors (CAC, Accord Ventures and AIG) are funds from Japan and Australia. “We are proud to be a company that has successfully attracted foreign direct investment into Malaysia,” said Toh. Meanwhile, CAC CAPITAL president and CEO Takuya Maeda said WOBB’s initiative is to change the way employers and jobseekers connect. Maeda said WOBB provides a means for companies to communicate their value in a new perspective to Gen Y and confidently predicts that the company would continue to gain traction and recognition in the Southeast Asian region. His sentiments concerning the investment are shared by Fumihiko Ishimaru, founder and CEO of Accord Ventures Inc, who foresees plenty of opportunities for further collaborations with WOBB in the near future, due to the close ties shared between countries in the Asian region. Fumihiko assures Accord Ventures’ continued endorsement of WOBB, promising support from networks not limited to Japan, but also other Asian countries. To date, over 1.3 million job applications have been made through the platform, and its unique Gen Y focused career fairs and company tours frequently receive rave reviews from both employers and jobseekers. WOBB’s focus on quality talent truly sets them apart for many employers. By specialising in employer branding and improving the hiring process, WOBB is able to help employers attract relevant candidates. This is made possible by rich media content, taking advantage of big data, and artificial intelligence to help both employers and job seekers connect. -- BERNAMA