Bossjob, an online recruitment site operated in the Philippines by Etos Adtech Corp., said it recorded over 2.9 million registered users in the Philippines.
The company also announced that it secured a $5-million funding.
The company is venturing into Singapore and Indonesian markets this month, with the Hong Kong market in plan for the third quarter. They also anticipate serving more than 30 million users in Southeast Asia by 2026.
To accelerate its expansion goals, Bossjob is offering free trials to companies this year.
This marks a significant milestone for Bossjob, which entered the Philippine market in 2018 at a time when the local recruitment market is relatively traditional.
“Legacy recruitment websites, created in the Web 1.0 era, have outdated matching capabilities and business models based on selling job ads and resumes, which do not meet the expectations of companies nowadays in terms of efficiency and effective cost per hire,” Bossjob co-founder and COO Kiat How Quak said.
“Some firms rely on headhunters, but their high commission rates, typically 20-30 percent of a hire’s annual salary, pose a significant burden for small and medium-sized enterprises.”
The company said it is focused on improving hiring efficiency by offering direct chat and highly accurate AI-matching for both talents and employers on Bossjob’s mobile application.
So far, more than 10,000 companies in the Philippines are utilizing their platform, including brands such as SM Investments Corp. and Accenture as well as BPO firms like Acquire BPO Philippines and Foundever.
Bossjob has entered the Philippine market with its model of mobile, direct chat and artificial intelligence-matching. It claimed to introduce direct chat into the recruitment scene.
With the help of artificial intelligence technologies and big data, the platform recommends suitable and active candidates to employers and relevant job opportunities to job seekers. This enhances matching accuracy for both parties, reduces information asymmetry, and improves recruitment efficiency.
On Bossjob, companies pay for engagement with potential employees instead of job ad views, leading to a higher payment penetration rate and reduced average revenue per paying user compared to conventional recruitment platforms, thereby lowering the entry threshold for businesses.Â