LookSharp, a startup that offers job listings and operates InternMatch, has acquired Readyforce, a professional network for college students and new graduates. The deal’s financial terms were undisclosed.
Since launching in 2010, Readyforce has raised more than $12 million in funding from investors including Menlo Ventures, First Round Capital and U.S. Ventures. LookSharp, which was formerly known as just InternMatch before it began to roll out more services for employers and students, has raised a total of $7.8 million from ARTIS Ventures, Rudy Gadre, 500 Startups, Kapor Capital, Subtraction Capital and Vishal Makhijani.
LookSharp says the acquisition will allow it to grow its database of internships, entry-level positions, and content geared toward helping students looking for their first jobs.
Combining forces will also help the two companies better compete in a fragmented marketplace. LookSharp seeks to differentiate from rivals like CareerBuilder, Monster, Dice and Indeed by allowing employers to offer more information about their jobs, benefits and company culture, in hopes of finding the best prospective candidates instead of getting flooded with hundreds of applications. Companies that list on LookSharp include startups, as well as corporations including Facebook, Amazon, Charles Schwab, Disney and Boeing.
Readyforce, on the other hand, focuses mainly on computer science and engineering students. In September, the company launched a tool called “Explore Your Options,” which lets students who have already received offers see what other opportunities are out there before accepting a job.
Since launching in 2011, LookSharp says it has grown more than 500 percent year-over-year and now has 30,000 employers and 10 million students on its platform.