August Capital Leads $27 Million Investment for SnagAJob.com in Series C Funding Round

Based in Richmond, Virginia, SnagAJob.com has announced on March 10, 2011, that it has just secured $27 million in private equity funding in a series C funding round led by August Capital. SnagAJob.com is one of the largest job search websites available that allows users to search for hourly jobs in their local areas. The service allows users to create an account and they can then register and even apply for those jobs online. SnagAJob.com has provided serious competition for other job hunting websites, such as CareerBuilder.com, Monster.com, and Glassdoor.

The service works in a rather simple fashion. Any user can sign onto the website and set up an account free of charge. All a user needs is to enter his or her email and choose a password. That’s it and the service is free. Once logged in, anyone can simply enter his or her zip code and will find hourly jobs in their area within seconds.

Unlike CareerBuilder.com, which does have some good job options, SnagAJob.com will give you a wide list of real jobs with real hourly wages that you can choose for either part time or full time. They do not necessarily have to be career oriented jobs. Furthermore, with SnagAJob, you also do not have to filter through these “nontraditional” jobs which require some kind of investment in advance, such as Avon or the like.

Though there are many advertisements for work at home jobs, including Avon, listed on the site, they do stand out better than on other sites. SnagAJob.com also allows its users to network to find jobs and also apply directly online. The website can also help you build your online resume in the form of your profile. You can also try out the networking program, which is undergoing beta testing. All of this makes SnagAJob.com be one of the most affective job search engines available.

According to the company’s CEO and cofounder, Shawn Boyer, SnagAJob.com was designed to work together with large scale employers to help them find the workers they need in an efficient manner of time. The fact that most of the working public is now online, the website has been designed specifically with that in mind. Ms. Boyer further added that August Capital has constantly invested in companies and entrepreneurs who have strong business models and are willing to make their vision into world-class ideas.

As part of the agreement of this funding round, Mr. Eric Carlborg, who manages the later stage investments at August Capital, will join the company’s board of directors. According to Mr. Carlborg, SnagAJob.com is entering its next phase, which is providing hourly work to employees by enlarging its database of hourly employers who are hiring. Mr. Carlborg further stated that SnagAJob.com has proven to be a great resource to both employers who need hourly labor and people who are searching for work. Mr. Carlborg has been with August Capital for quite some time and has deep experience in investing, transactions, and operations in both private and public companies.

Founded in 1995 by Dave Marquardt and John Johnston, August Capital is a private equity firm which is run by seasoned entrepreneurs. Currently, along with the two cofounders of the firm, August Capital also has other professional investment partners, who include Eric Carlborg, David Hornik, Vivek Mehra, and Howard Heartenbaum. The firm currently has over $1.3 billion in investment funds under its management and since its inception has invested in over 75 companies across the tech industry. Some other companies in August’s portfolio include Cobalt Networks, Ebates, DeviceScape, Silicon Image, Aardvark(acquired by Google), Alta Devices, Compaq Computer, and others.