JobGet Expands with SnagAJob Acquisition, Reaching 100 Million Hourly Workers

Deal News | Nov 15, 2024 | Aim Group

In a strategic acquisition, Boston-based JobGet has acquired SnagAJob, its third purchase in less than 18 months. SnagAJob, a notable name in the hourly job market sector, will continue to operate as a distinct entity, yet will share its job-seeker database with JobGet. This merger will furnish employers with access to a vast pool of 100 million potential employees. While specifics regarding the transaction's financials were not disclosed, the deal is well-regarded by investors in both companies. JobGet, launched in 2020, is recognized for its mobile-first approach, ensuring rapid connections between hourly job seekers and employers. This acquisition is intended to maximize efficiency and coverage in the hourly workforce domain in the United States, with little overlap between the two companies' databases. Founded in 2000, SnagAJob has a significant footprint and has raised over $100 million since its inception. It continues to uphold its mission, according to CEO Keith Forshew, by helping hourly workers find suitable employment opportunities. JobGet's acquisition strategy includes prior purchases of Heroes Jobs and Wirkn, furthering its commitment to innovate within the hiring space, particularly for the younger demographic influenced by platforms akin to TikTok.

Sectors

  • Recruitment and Staffing
  • Technology

Geography

  • United States – Both JobGet and SnagAJob primarily operate within the U.S. market, focusing on the American hourly workforce.

Industry

  • Recruitment and Staffing – This sector is relevant as both JobGet and SnagAJob operate within the employment and staffing industry, particularly focusing on hourly job workers.
  • Technology – JobGet's mobile-first approach to connecting job seekers with employers positions both companies within the technology sector, emphasizing digital solutions in recruitment.

Financials

  • $2.1 million – Seed funding round raised by JobGet.
  • $52 million – Series B funding raised by JobGet in 2022.
  • $100 million – More than $100 million raised by SnagAJob since its founding in 2000.

Participants

NameRoleTypeDescription
JobGetAcquiring CompanyCompanyA Boston-based job marketplace for hourly workers, known for its mobile-first approach to streamline job searching and hiring.
SnagAJobTarget CompanyCompanyAn established platform aimed at connecting hourly job seekers with employers, founded in 2000.
Tony LiuCEO of JobGetPersonFounder and CEO of JobGet, instrumental in the company's strategic acquisitions.
Keith ForshewCEO of SnagAJobPersonCurrent CEO of SnagAJob, leading the company in its mission to connect hourly workers with employment.
Pillar VCInvestorCompanyVenture Capital firm that participated in JobGet's seed funding round.
Data Point CapitalInvestorCompanyVenture Capital firm that participated in JobGet's seed funding round.
Jazz Venture PartnersInvestorCompanyVenture Capital firm involved in JobGet's Series B funding.
Sanabil InvestmentsInvestorCompanyInvestment company that participated in JobGet's Series B funding.
Shannon HarrisonFounder of SnagAJobPersonCo-founder of SnagAJob along with Peter Harrison.
Peter HarrisonFounder of SnagAJobPersonCo-founder of SnagAJob along with Shannon Harrison.
Dan SapirGeneral Manager of JobGetPersonGeneral Manager at JobGet, providing strategic input into the company's operations and acquisitions.