Otta, one of the youngest startups trying to fix what it sees as a broken job search and recruiting market, has received start-up funding of £ 850,000. The young London company is supported by LocalGlobe, along with a number of UK investors and founders.
The latter include Paul Forster (co-founder of Indeed), Shakil Khan (an early Spotify investor and founder of Student.com). , Matt Robinson (co-founder of Nested and GoCardless), Duncan Jennings (founder of VoucherCodes) and Carlos Gonzalez-Cadenas (COO of GoCardless) Xav Kearney – 25 years or younger – Otta seeks to facilitate the search for suitable professionals in fast-growing businesses. The startup will do this through a first online quiz, followed by a UI, which will display a potentially suitable job, with an appropriate algorithm indicating that it will become more personalized when you provide feedback.
"Job seekers are frustrated by the crowd's noise from most job search experiences," CEO Sam Franklin tells me. "LinkedIn returns 25,000 software engineering jobs in London. There are very limited ways to filter these results to your liking. Besides, recommendations are sorted on the amount of payments of the enterprises and not on really good results. "
While working at Nested, engineers would often receive 50 or more messages or emails per month from recruiting agents. These engineers would never get involved. As he dug deeper, he was told that potential candidates felt they could not rely on recruiting agents because they were not in their corner. "They only drive you in the roles in which they have commercial agreements," he notes.
Otta has "selected" over 300 of London's most innovative companies, says Franklin. From well-known brands like Revolut and Spotify to emerging companies like WhiteHat and Cuvva. "The curiosity of quality companies alone offers job seekers a high added value," he says.
Otta provides information on whether the company has a visa sponsorship license, such as the exact office location (not just in London) and recent financing and startup profiles.
"For individual jobs, we tag the used tech stack and pull out the most important requirements," explains Franklin. "Jobs are displayed one at a time (rather than in a list format). This means that we get more feedback about what candidates like and what they do not like. This feedback and the additional data are very helpful for us to make better recommendations. Similar to how Spotify makes recommendations based on what you hear, we recommend using machine learning jobs that you like and dislike. The recommendations improve as our user group spends more time on the platform. "
Since launching in August 201
"We are not currently monetizing the platform, although many companies are asking them to take on specific roles," says Franklin. "We are committed to earning money in a way that enhances the experience of the candidates. This means that we do not impose fees on job postings for companies, as candidates should see all the fantastic roles that suit them. We will also not allow companies to pay to influence our search results, as we want to show the candidates their best roles first. "
Instead, it is planned to hire companies to proactively deal with Ottas'" high-quality pool "candidates. The idea is to add value to both sides of the market, much like a much more focused LinkedIn recruiter. "Businesses will appeal to active candidates who are interested in their business, and candidates will be contacted directly by their favorite companies without being considered as spam by recruiters," says the Otta CEO.