SOURCE: Woo

May 10, 2016 10:15 ET

Woo Successfully Completes Seed Funding Round of $4.35 Million

Funding to Be Used to Expand Platform Into New Markets

TEL AVIV, ISRAEL and SAN FRANCISCO, CA--(Marketwired - May 10, 2016) - Woo (woo.io), the first platform that lets tech talent gauge their market value, today announced it has raised a $2 million up-round, bringing Woo's total funding to $4.35 million. The capital infusion from current investors comes on the heels of the company's $2.35 million seed round, and will be used to accelerate growth and R&D, as Woo moves to expand its footprint into key technology-focused regional markets across the U.S.

Helping Companies "Woo" Tech Talent with a Precise Offer

Woo's expansion coincides with a red hot HR tech sector that last year saw an all-time number of deals and record levels of money raised, at almost $2.5 billion across 115 private startups, including 10 successful exits of investor-backed companies.

Woo was built for people who are curious about the market demand for their skillset and experience. Its platform enables individuals to get a reality check on specific opportunities for relocation, promotion, salary increase, the ability to work on emerging technologies (i.e., robotics, VR, AI), etc. Undoubtedly, most would like to get their answers without having to invest a great deal of time, and without being designated as a job seeker.

Woo helps tech talent identify available job opportunities that map to what they truly want, while remaining completely anonymous. With Woo, talent takes zero-risk and exerts minimal effort to get answers to their "what if" questions, so they can better understand their career options and alternatives.

When a potential employer is interested, and also agrees to meet an individual worker's key expectations, Woo allows the company to approach the individual. But it's up to the individual whether they remain anonymous or proceed with the interested company. Woo is a gatekeeper during this process -- protecting the identity of the individual. The result is a quality discussion, and a 78% response rate to company inquiries -- with nearly 4 out of 5 user's responding to Woo-connected offers.

"The tech market is exploding, and while tech companies are hiring, they are having trouble "wooing" the most qualified candidates," said Moshe Lichtman, General Partner at Israeli Growth Partners. "Woo provides a unique platform for the huge number of passive job seekers. It allows them to state their career objectives and compensation expectations, and then Woo pairs them with companies that are willing to meet those desires. The results speak for themselves, and I'm very excited about Woo's momentum in the marketplace."

Expanding to Serve More Techies

Since Woo's February launch into the San Francisco Bay Area, close to 7,000 tech professionals have signed up for the invite-only service. Woo caters to software engineers, developers, product managers, QAs, DevOps and designers, as well as the tech companies who employ them.

"We are very excited by our investors' early vote of confidence, as well as the intense interest that we have received from companies and talent in the U.S.' key tech markets," said Liran Kotzer, co-founder and CEO of Woo. "We have tripled the number of tech talent and signed up hundreds of tech companies since our U.S. launch, proof that Woo's solution is clearly hitting a chord with all parties involved."

According to Woo data, the top five most in-demand cities for tech workers are San Francisco, New York/Boston, Seattle, Los Angeles and San Diego. Moving forward, Woo plans to expand its invite-only service to these major U.S. tech hubs, as well as to expand the types of tech positions served by its platform to include marketing, sales and business development positions.

Woo Who?

Privately-held, Woo operates out of San Francisco and Tel Aviv. Its namesake platform, Woo, lets tech talent effortlessly learn their real demand and market value, while remaining fully anonymized. Unlike existing solutions, Woo focuses on helping tech talent know their true potential, regardless of whether they want to change their job or not. The company works with leading-edge tech brands, including Microsoft, Adobe, Yahoo!, WeWork, Quora, AutoDesk and more. 

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