DeveloperAuction, a site where companies can bid for developers seeking jobs, has taken on $2.7 million in first-round funding, suggesting that investors think tech recruiting can be disrupted again, even with LinkedIn, Stack Overflow and other online venues playing in the space.
NEA and Sierra Ventures led the DeveloperAuction funding round, and Crosslink Capital, Google Ventures, SoftTech VC and Step Partners contributed as well.
Last month I wrote about how venture capitalists were showing interest in DeveloperAuction despite its shortcomings, which span from monetizing a recruiting process that already happens naturally to using an arguably questionable word, auction, in the company’s name.
Even so, the site does operate on a concept that challenges the generic recruiting model. (According to a statement, companies have floated more than $225 million in job offers.) The idea of asking companies to appeal to job seekers strongly contrasts the usual way of making many job seekers compete for individual openings. It’s a refreshing approach. And Matt Mickiewicz, a co-founder and CEO of the company, told me in an interview last month that he wants to bring the DeveloperAuction way to other verticals.
The question is, how many types of jobs have consistently high demand and low supply in many geographical areas, as is the case for developers? Now that VCs have a stake, the question could become more important than it was when news of the company first surfaced a few months ago.