Sydney-based Hatch raises $7 million for its AI-powered jobs marketplace

Sydney-based startup Hatch has revealed plans to scale its AI-powered jobs marketplace for gen Z job seekers after announcing on Monday that it has closed an oversubscribed $7 million seed funding round.

The capital raised will be used to support Hatch’s expansion nationwide and globally and invest further in best-in-class matching technology and a candidate-centric user experience for the platform, as well as onboarding more employers and candidates.

The $7 million funding round was led by early-stage investor Rampersand, with several other major Australian venture funds participating in the round, including Alberts Impact Ventures, Aura Ventures, Jelix Ventures, and Investible, as well as existing private investors including former Australia Post boss Ahmed Fahour.

Founded by The Iconic co-founder Adam Jacobs and Zip co-founder Chaz Heitner in 2017 and launched three years later, Hatch has grown at 20% month-on-month for the past two years as it gains market share in what it says is a 28 billion market for hiring gen Y/Z employees. 

Today, Hatch has a community of over 150,000 candidates and more than 120 leading Australian companies use the jobs marketplace powered by AI matching, with over 150,000 applications submitted on the platform.

Co-founder Adam Jacobs told SmartCompany that there were four...