Shomvob’s funding paves way to boost job scopes in BD
City Desk :
Shomvob, Bangladesh’s premier B2B job-tech and HR tech platform, secures a monumental USD 1 million in pre-seed funding.
Spearheaded by Singapore-based venture capital firm Cocoon Capital, this investment marks a significant milestone in Shomvob’s mission to revolutionize employment access in Bangladesh.
Adding to its triumph, Shomvob also receives a generous grant from the Bill & Melinda Gates Foundation, aimed at empowering low-income women with job opportunities across the nation.
Established in 2022, Shomvob stands committed to uplifting the blue and silver-collar workforce, propelling Bangladesh towards a brighter economic future. Stay tuned for more updates on this groundbreaking initiative.
Currently, more than 650,000 corporations and SMEs in Bangladesh face critical hiring issues for their frontline workforce due to an over-reliance on paper-based processes and information asymmetry.
This often results in a mismatch of talent, causing up to 30% productivity loss.
On the other hand, around 70 million people in the country struggle to find jobs that meet their expectations, often falling prey to local brokers or middlemen known as ‘dalals’.
Shomvob addresses these issues by providing job seekers with a professional digital identity and a seamless application process for relevant positions.
Its advanced algorithm matches candidates with suitable jobs while its Application Tracking System (ATS) offers transparent, real-time updates on application progress.
For companies, Shomvob simplifies their hiring processes, reducing time and costs while ensuring compliance.
Shomvob was founded by Rifad Hossain, Naqib Muhammad Faiyaz, and Hasibur Rahman in May 2022.
Since launch, it has registered over 600,000 job seekers and more than 1,300 companies, successfully facilitating over 12,000 job placements.
The jobs cover several key sectors including logistics, retail, and healthcare, demonstrating the platform’s wide-reaching impact.
Shomvob has also partnered with UNICEF’s Generation Unlimited P2E (Passport to Earning) to boost the employability of job seekers.
This initiative focuses on providing access to quality education, skills training, and employment opportunities for youth, particularly in underprivileged and marginalized communities.
The funds will support the development of a comprehensive Human Resources Information System (HRIS).
