Two U.S.-based venture capital companies have invested SEK 125 million (US$15
million) to finance Swedish online recruiter Jobline‘s further expansion in Europe.
J.H. Whitney and Sandler Capital together acquired one third of the company’s stock.
Stockholm-based Jobline aims to become the top job site in each of the major European markets. The company already has a presence in Sweden, Norway, Denmark, Finland, France, Germany, Italy and Spain, and will soon open offices and local sites in Holland, Belgium and the UK.
Jobline uses a unique tool to match an individual’s experience and future plans to a company’s applicant profile within its database, all within a time period which it claims beats traditional recruiting methods by months.
“Jobline International is our first European involvement related to the
Internet. We picked Jobline, because we think the services from this company
is at least one generation before its competitors, has a strong management
and a successful model for expanding in Europe,” says Dimitri Goulandris, J.H. Whitney Europe’s managing director.
Jobline International was founded by its CEO Lars-Henrik Friis Molin, who remains the main owner.