Referral Recruitment Service “Wanted” Attracts $1.42M

wanted

Wanted Lab, a startup firm that manages referral recruitment service “Wanted,” raised approximately $1.42 million or ₩ 1.7 billion from KTB Network, Mirae Asset Venture Investment, StoneBridge Capital, four months after the launch of its open beta service.

Wanted is a service that allows anyone to refer a candidate in their field of expertise and receive compensation if the candidate gets hired. This service was inspired from companies actively hiring candidates recommended by experts in their respective fields with high satisfaction rate. By transforming employee referral and headhunting business model into an online version, Wanted received positive feedback among startups and IT specialists through word of mouth.

In line with its service philosophy, Wanted team started from four co-founders who got together through referrals. Then, they secured its initial client base and service with the support from two startup support services, Maru180 and D.Camp, leading them to be selected as one of the global startup accelerator SparkLabs’s 5th class.

Bok-Ki Lee, CEO of Wanted, said “If the job posting has gone online in the last decade, the entire recruitment process will go mobile in the future. With the investment, we plan to improve service quality and expand our service into various career fields and even overseas.” The official android version of the service is expected to launch in this coming October.

Chunsoo Kim, KTB Network’s leading investment manager, said, “Considering the fact that companies prefer to recruit on a rolling basis instead of large-scale open recruitment to speedily respond to market changes, Wanted Lab with SNS core technology and related service experience certainly caught our eyes. We look forward to make significant innovations in the recruitment market through a number of different approaches.”

Wanted currently provides approximately $600 thousand or ₩ 700 million worth of compensation for recruitment information on 180 positions from more than 80 companies, such as NHN Entertainment, Walt Disney, Accenture, Coupang, Yogiyo, and Yellow Mobile.

-Inspired by Platum

Joyce (Jung Min) is a senior at Georgetown University’s School of Foreign Service, majoring in Global Business. In her free time, she loves to drink coffee, listen to music and explore downtown DC. Joyce can be reached at jmyeo@techforkorea.com.

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