Temple Bright advises disruptive recruitment platform on venture capital deal
Law firm Temple Bright, which has offices in Bristol and London, has advised Hackajob, a technology recruitment business backed by the leading accelerator Techstars London, on a second round of financing led by Downing Ventures and including Mayor Boris Johnson’s London Co-Investment Fund (LCIF).
Launched in November 2014, Hackajob invites candidates for technology roles to “get hired by hacking” – demonstrating their coding skills directly through the company’s website, so as to secure a role which perfectly matches their gifts.
The company has already built a user base of 20,000 candidates and has provided talent to high-profile, rapid-growth tech companies such as TransferWise and Skyscanner as well as established organisations such as Sky, Boots, Argos and the BBC.
Co-founders Razvan Creanga and Mark Chaffey said: “For candidates, our job application process is more fun, whilst companies can reduce their hiring costs by at least 50% and identify the best talent faster than ever before through our innovative, data-driven approach. This round of funding will allow us to scale the business, serving more companies hiring tech talent across the UK and beyond.”
Mayor Johnson said: “London’s tech sector is flourishing and the city is a hotbed of talented and ambitious people buzzing with exciting ideas who are setting up new companies in their droves. I am delighted that the London Co-Investment Fund is helping companies like Hackajob make their ideas a reality and deliver jobs and growth for the capital.”
Hackajob was advised on the deal by Temple Bright. Launched in Bristol in 2010, the firm opened its London office near Old Street in 2013 and now has 45 lawyers. It has adopted a partner-only structure and cost-saving technology to avoid two related problems with the traditional law firm model: high fees which exceed initial estimates, and delegation to inexperienced juniors.
Partner Paul Stone said: “We were delighted to act for Hackajob on this significant fundraising involving several prestigious investors. This deal is an important step on the way towards the company realising its exciting global ambitions.”
Temple Bright co-founder Tim Summers added: “The rapid ascent of both Hackajob and Temple Bright shows how a service provider in the tech scene can flourish with a fresh business model, making it a natural ally of the disruptive companies it supports. We feel privileged to be advising Hackajob, another firm using technology and lateral thinking to solve a problem in how services are provided to the tech community.”
This article appeared in the Bristol Business Newsletter on 22 January 2016.