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Egypt’s WUZZUF Raises $ 6 Million In Series B Funding

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Egypt’s jobseeker marketplaces Wuzzuf and Forsana both platforms are run under one umbrella by Barshasoft LLC, have raised $6 Million in Series B funding from four European and U.S. VC funds including Swedish Vostok New Ventures, US Based Endure Capital, UKs KIngsway Capital and the European Bank for Reconstruction and Development (ERBD).

Founded by Ameer Sherif; Wuzzuf in 2012 and Forsana in 2015, connects professionals with higher education levels, such as bachelors degrees and PhDs to employers while Forsana focuses on blue collar workers. Barshasoft LLC, which had raised $1.7m in 2015 in Series A funding from Endure Capital, 500 startups and Vostok New Ventures.

THe platform is loking forward to facilitate more than 1 million hirings on both platforms by 2020. The funds will also be utilized for a comprehensive R & D on how to integrate AI and ML in the process of connecting the job seekers to desirable jobs.

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Wuzzuf ranked #51 in Forbes Middle East 2017 issue’s list of the To 100 startups in the Arab World. It currently has north of 200 people in its employ, after acquiring job assessment platform Viriphi in 2016 for an undisclosed sum.

With this new raise, the firms will expand within Egypt and to hire north of one million people by 2020.

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