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Vietnam Startup JobHopin Closes Series A Investment Round With $2.45m

The successful round brings JobHopin's total raised capital to over US $3 million.

Tech In Asia reports that the company was founded in 2017 and uses AI and machine learning to connect small and large companies with job applicants in Vietnam.

According to a press release shared with Saigoneer, JobHopin will utilize the funding "to shape the future of recruitment in Southeast Asia via 'Bunny' — its AI search and recommendation platform."

The firm was started by Kevin Tung Nguyen, a native of Vietnam who studied and worked in the US for 14 years. His aim is to bring AI and machine learning to the region's 60 million knowledge economy workers, who affect 108 million annual job openings. Last year, he was named by Forbes Asia as one of the continent's 30 Under 30, along with three other Vietnamese.

"Recruitment has lived through world wars. It has lived through economic depressions and the one thing you will see over the course of generation after generation is that businesses thrive or fail all because of its people," the press release quotes Nguyen as saying.

"There is this innate human desire to job hop, to develop their careers by following new intellectual challenges and professional purposes. Our desire to make work more meaningful, to connect with one another as a way to move up the career ladder - that is never going to go away."

The release notes that it takes 49 days to fill the average white-collar job opening in Southeast Asia, and 34 days to fill software developer positions, a system that is expensive and inefficient.

It goes on: "JobHopin proposes a model for solving systemic inefficiencies using the power of AI and cloud technology. With a basis in personalization principles, the progressive hiring platform brings together real-time market salary and digital data analytics and deep learning models to reinvent traditional recruitment workflows."

"I’m thrilled to share this amazing successful funding news amidst the global coronavirus crisis," Nguyen shared in a Facebook message. "Our investors' confidence in the JobHopin team's effort and resilience during this incredibly challenging time has helped us crystallize our growth strategies and focus on helping our ecosystem rebound quickly with our AI platform for job and talent market intelligence."

JobHopin's goals are now backed by over US$3 million in funding from investors such as SEMA Translink, KK Fund and Edulab Capital Partners.

[Photo via Tech in Asia]