Tyba – a “junior recruitment market” aimed at allowing companies like tech startups to more efficiently hire university and college graduates – last year raised $1.3 million in an investment round led by Sunstone Capital. It’s now raised another $3.1 million, once again from Sunstone Capital and a new investor, the VC fund Impulse, which is part of the Kuwaiti Investment Authority (KIA), the world’s seventh largest sovereign wealth fund.
Tyba’s idea is that the large amounts of professional information that users provide on the platform allows for a more accurate matching of hirers and prospects. Currently, over 500 startups in 14 different European cities use its platform to target graduate candidates and it hopes to increase that to 1,000.
New young recruits are offered the ability to showcase themselves beyond ordinary web profiles or their CV. Then recruiters filter the information around ‘soft-skills’ and the interests of the graduates.
Its competitors include Collegefeed, a service that combines crowdsourcing with social networking to connect students with each other and potential employers. Collegefeed has raised $1.8 million from investors including Accel Partners. Another, Graduateland, is trying to create a large recruitment network based on international universities.
Tyba founders Eiso Kant, Jorge Schnura and Philip von created the company in Madrid in 2011 and it now has 28 staff.