Santa came a day early for Jobfox. The job matching service got a $2 million infusion the day before Christmas. It’s debt funding, which means what it sounds like: it’s a loan.
ERE community member Michaela Prebbleton was the first to notice and posted a comment to an article about the first loan the company got last summer. According to a filing with the Securities and Exchange Commission, Jobfox got $3 million in debt financing just six months before this latest round.
There’s an indication in the financing that warrants or options or both may have been part of the deal. More important, though, is what the borrowing is all about.
Could be the Jobfox founders don’t want to give up any more shares in the company, or the economy has made investors especially cautious.
Article Continues Below
How mature is your hiring process? Answer these 5 questions and find out.
Jobfox has already gone through three rounds of VC funding, getting a total of $40 million for the service founded by former CareerBuilder founder and CEO Robert McGovern. So between the VC investments and the borrowing, the company’s total of $45 million rivals the $55 million that was poured into Jobster.
I emailed Jobfox’ VP of Marketing Steven Toole this morning asking about the financing and what plans the company had for it. Haven’t heard yet, but Steven may very well post some details yet.