The COVID pandemic and the following economic slowdown have impacted the part-time job sector. While for employers, there is a labour shortage, for job seekers, there is a need to find work quickly. The demand for express services in the job market is rapidly increasing.
Korean startup Kneader is trying to provide a quick solution to connect part-time job seekers in Korea and employers. Kneader operates a real-time part-time job matching platform ‘Gyugu’ that has attracted a 7 billion won ($5.3 million) Series B round investment.
Gyugu (urgent-wanted) is a mobile application platform connecting employers needing part-time workers in Korea with job seekers who want to work part-time in Korea. The app is specialized in short-term, part-time jobs in Korea. The feature of the expedited service is that all processes are online, such as making a job offer to job-seekers, writing a mobile labor contract, managing time and attendance, remitting wages, and issuing withholding receipts.
Gyugu has partnered with companies like Baemin Ledger, Baemin Connect, BGF Retail, and Coupang Logistics to introduce functions and provide manpower information. Currently, it is increasing its links with self-employed people through additional partnerships such as T-Order, Cash Note, and Kitchen Valley.
As the number of users of the express service steadily increased and the rate of growth increased, the startup attracted Series B investment despite the cold wave of startup investment. The Wells Investment, Kona Investment, Hana Ventures, CJ Investment, and Wanted Lab participated as new investors, and existing investors Korea Investment Partners, BNK Venture Investment, and K-Bridge Ventures additionally invested.
Jeong Han-bit, managing director of The Wells Investment, who participated in this investment, said, “I paid attention to the fact that the rapid transit internalized all processes that occur before and after recruitment (recommendation of talent, writing of employment contract, certification of attendance, remittance, etc.) rather than a simple recruitment linkage platform. We expect that the high-quality data accumulated within the rapid transit service will make it very easy to expand the business to automate labour cost reporting, income / financial management services, etc., and grow into a comprehensive platform.”
Lee Bok-ki, CEO of Wanted Labs, said, “Both Kneader and Wanted Labs are data-based companies that are good at ‘matching people and work,’ so we decided to invest. We could create synergies not only in business but also in technology. We look forward to leading market innovation through new technologies such as matching.”
Shin Hyun-sik, CEO of Kneader, said, “I would like to place great significance in that it has been recognized as the most competitive service among short-term, part-time job recruitment services through this investment.”
Meanwhile, the company plans to develop and provide more diverse management functions to the self-employed and is preparing to expand into a B2B business to introduce a part-time job recruitment function at the head office level.
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