WorkVenture, a Bangkok-based job search website, is positioned for its next phase of growth after receiving seed funding from a group of angel investors.
The investors were led by Sommaphat Traisorat, chief executive of TCC Land Asset World, and Songphon Chaovanayothin, executive director of Pace Development Corporation.
"The proceeds from the fund will be used to recruit more data scientists and embrace system analytics to create matching algorithms in order to match and suggest relevant jobs to job seekers," said Alexander Kerbo, executive director of WorkVenture Technologies Co, the operator of WorkVenture.com.
WorkVenture has developed its own algorithm, WorkScore, that instantly calculates large amounts of data based on background, skills, requirements, key words in curriculum vitae and job seekers' goals.
"We're moving into our next phase of growth, with a plan to seek potential partners in preparation for raising Series A rounds -- traditionally a critical stage in the funding of new companies with the range of US$2-10 million," Mr Kerbo said.
WorkVenture is working with 500 companies or employers, and has around 400,000 monthly visitors to its website.
Mr Kerbo said WorkVenture recently rebranded from JobNitsit.com in a drive to expand to white-collar users, rather than focusing on university users.
WorkVenture makes money from a fee charged to employers for its service, but is free for job seekers.
Mr Kerbo said the surge in new technology startup companies in Thailand demonstrates that young people prefer to build their own businesses or be self-employed rather than be full-time employees.
"We have seen a dramatic increase in demand for digital talents from early-stage startups," he said. "It's difficult to attract talent because startups face a lack of credibility and recognition."