Adzuna raises £8m in Series C investment round

Adzuna has raised £8m in Series C funding from Smedvig Capital.

The London-based job search company will use the investment to grow its presence in the UK and overseas while developing its machine-learning platform.

In the year ahead, Adzuna plans to expand its development and data science teams and prioritise expansion in the US.

The latest investment round saw venture capital firm Smedvig join backers Index Ventures, LocalGlobe, Passion Capital and more than 400 Crowdcube investors to take Adzuna’s total funding to £12m.

The company was set up in 2011 by the team behind classifieds site Gumtree, property data platform Zoopla and review portal Qype.

Today, Adzuna attracts 10m visitors a month from 16 countries and generates over £1m in monthly revenues.

Doug Monro, co-founder of Adzuna, commented: “We are proud of the world-class team and platform we have built at Adzuna, and are well on our way to achieve our mission of helping millions of people globally to find better, more fulfilling jobs.

“The business is already profitable, but we’ve decided to raise this round to grow even faster. Working with Smedvig has been a pleasure and they were a natural choice for the next stage of our growth.”

He added: “Their particular brand of patient capital delivered by an experienced, analytical team stands out from the boom or bust approach of some other VCs. We look forward to achieving great things together.”

Smedvig managing director Robert Toms said: “We’re delighted to be working with Andrew and Doug, experienced entrepreneurs with great track records.

“The Adzuna team has achieved a great deal in recent years. It’s fantastic to see them winning an important government contract in the UK at the same time their international expansion is gathering pace.”

He continued: “We believe the innovations they continue to bring to the market will change the way people search for jobs, globally.”