How Much Did Otta Raise? Funding & Key Investors

Otta has successfully raised funding through three rounds, attracting notable investors such as Founder Collective and LocalGlobe. The platform, now rebranded as "Welcome To The Jungle UK," offers a job search service that emphasizes relevant job opportunities and smart recommendations based on user preferences.

Keep reading to explore the intricacies of Otta's fundraising journey and the investors backing this innovative platform.

What Is Otta?

Otta, now known as Welcome to the Jungle UK, is a job search platform based in London, England. The company operates in the Internet, Recruiting, and Software industries, focusing on providing a better way to find jobs in the tech sector.

With an employee count ranging from 101 to 250, Otta has successfully raised funding through three rounds, attracting notable investors such as Founder Collective and LocalGlobe. The platform offers personalized job recommendations and detailed job descriptions to help users find their ideal roles.

How Much Funding Has Otta Raised?

1. Pre-Seed Round
   • Amount Raised: USD 1,100,000
   • Date: December 2019
   • Lead Investors: LocalGlobe
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To develop the initial version of the platform and validate the business model.
2. Seed Round
   • Amount Raised: USD 2,800,000
   • Date: June 2020
   • Lead Investors: LocalGlobe
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the team and enhance the platform's features.
3. Series A Round
   • Amount Raised: USD 20,000,000
   • Date: January 2022
   • Lead Investors: Tiger Global Management
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand Otta's American presence and double the Product and Engineering team in London.

Total Amount Raised: USD 23,900,000. Current Valuation: Not publicly disclosed.

Key Investors

• Founder Collective
  • Details: Founder Collective is a venture capital firm that invests in early-stage companies. The firm is built by a collection of successful entrepreneurs who focus on startups.
  • Investment Focus Areas: Early-stage companies across various sectors.
  • Notable Investments: Uber, BuzzFeed, HotelTonight.
• LocalGlobe
  • Details: LocalGlobe is a venture capital firm that focuses on seed and impact investments. The firm is known for backing companies with strong visions and potential for significant impact.
  • Investment Focus Areas: Seed and impact investments, particularly in technology and innovation.
  • Notable Investments: TransferWise, Zoopla, Citymapper.
• Tiger Global Management
  • Details: Tiger Global Management is a leading global investment firm that focuses on private and public companies. The firm invests in the internet, software, consumer, and financial technology sectors.
  • Investment Focus Areas: Internet, software, consumer, financial technology.
  • Notable Investments: Facebook, LinkedIn, Spotify.
• Paul Forster
  • Details: Paul Forster is the co-founder of Indeed, a major job search engine. He is an angel investor who has provided early-stage funding to various startups.
  • Investment Focus Areas: Job search and recruitment platforms.
  • Notable Investments: Indeed.
• Alex Bouaziz
  • Details: Alex Bouaziz is the co-founder of Deel, a platform for hiring and paying remote teams. He is an angel investor with a focus on remote work and payment platforms.
  • Investment Focus Areas: Remote work, payment platforms.
  • Notable Investments: Deel.

What's Next for Otta?

Otta stands at the cusp of significant growth, driven by the ongoing "Great Resignation" and the increasing demand for transparent, meaningful job opportunities. The platform's expansion into the American market and the doubling of its Product and Engineering team in London present substantial opportunities to capture a larger share of the job search market.

Future fundraising seems promising, given the successful Series A round and the backing of high-profile investors. This financial support will be crucial as Otta scales its operations and enhances its platform to meet the growing needs of job seekers and employers alike.

However, challenges remain. Competing with established platforms like LinkedIn and ensuring the accuracy of aggregated job information will be critical hurdles. As Otta navigates these challenges, its unique candidate-first approach and commitment to transparency will be key differentiators in a competitive landscape.

Use Clay to Get Funding Data

Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Otta and gather other critical business insights.

Sign up for free to start making data-driven decisions and stay ahead in the competitive market.