SOUTH AFRICA – Enygma Ventures, an investment fund for female entrepreneurs and women founders, has announced that it has made a R4.2 million (US$0.25m) investment into Job Crystal, South Africa’s recruitment company.
This investment into Job Crystal will enable this female-led company to develop incredible technology to speed up the process of recruitment making it easier for employers to hire the right talent faster than ever, making a dent in unemployment rates at the same time.
“Never has there been a more critical time to get South African’s back into work,” says Sarah Dusek, managing partner and co-founder of Enygma Ventures.
“We see the recruitment industry as vital in South Africa’s economic recovery enabling employers to navigate finding the right talent, quickly and efficiently, getting more people back to work sooner.”
JobCrystal was created in 2009 with one vision – to find talent that makes an organisation great and reach its full potential.
Job Crystal was started by Karl Westvig and Kevin Laithwaite in 2009, with the intention to be a formidable online job platform that corporate companies in South Africa could use to find experienced and qualified candidates. During the next 5 years they created an online platform, that was the start of the ‘AI’ movement in matching skills to specs.
“We’re thrilled to receive this investment from Enygma Ventures which will help us to improve our tech development and expand our footprint across the country and region,” said Job Crystal Managing Director and Co-Founder Sasha Knott.
Job Crystal Co-Founder and Operations Director Kelly Louw says, “When we look at how high the general unemployment rate in South Africa is, which increased to 30.1% during the first quarter of 2020, with 63.3%² of the 7.1 million unemployed people consisting of our youth, we have our work cut out; especially now the global Covid-19 pandemic has only exacerbated these numbers.”
Being entrepreneurs at the time Karl and Kevin decided to sell Job Crystal and focus on other businesses within the financial services space and sold the business to Kelly Louw and Sasha Knott in 2015.
“Job Crystal has strongly positioned itself within the recruitment market focusing on small and medium sized businesses with a passion for solving Africa’s unemployment crisis using technology and smart problem-solving skills. This is what we at Shift Fund are looking for – businesses that combine smart, innovative strategies and technologies in scalable models,” startup Circles CEO Sandras Phiri said.
Between 2015 to 2017 Kelly and Sasha put all revenues back into the business to rebrand and reformat the job platform and website, while both working in other businesses at the time.