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JobFox Gets $20 Million and Goes On A Growth Spurt

Jan 9, 2008
This article is part of a series called News & Trends.

Smart as a fox. That’s an even more apt description of JobFox now that it has another $20 million in the bank and is expanding into six more U.S. cities and Australia.

Already in Atlanta, Boston, San Francisco and Washington, D.C., where it first launched in 2005, Jobfox will open new offices in Chicago, Dallas, Houston, Los Angeles, New York and Seattle in the next six months.

The Australia expansion is fueled by a partnership with Fairfax Digital’s MyCareer.com , the second largest job board in Australia and New Zealand. MyCareer will incorporate JobFox’s matching and branding technology in the early part of this year.

“The rapid growth of Jobfox is due to the tremendous receptiveness from job candidates and corporate recruiters,” is how CEO Rob McGovern explains it in the press release announcing the company’s good news.

The matching and candidate promotion site has gotten at least $40 million from investors since McGovern first began developing it in the spring of 2005. It launched that July with the confusing name of Mkt10 and the promise to be a different kind of job site.

That it is, even though the name and some of the fundamentals, including the user interface, have changed. McGovern, the founder and former CEO of CareerBuilder who sold it for $200 million in 2000, describes JobFox as “the e-Harmony of jobs.” That describes more than the obvious matchmaking features, suggesting that a good fit depends on both parties making clear what they want in a relationship.

JobFox demands more of employers than the usual bland job description, insisting they fill out a profile similar to what the candidates do. The site also lets candidates know who is looking at their resume and even creates a controversial trackable resume, that can provide that information even when posted to other sites. Some recruiters and job boards have complained about the lack of privacy in reviewing resumes.

Draper Fisher Jurvetson led the $20 million financing round, which also included Menlo Ventures and New Enterprise Associates (NEA) .

This article is part of a series called News & Trends.