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OneShift, an online recruitment platform for shift and short-term work, has announced an equity partnership with staffing and facility management company Programmed, according to startupssmart.com.au.
In exchange for a 27.5% equity stake, OneShift will receive AUD 5 million (USD 4.7 million) and access to Programmed’s network of resources. OneShift founder and chief executive Gen George told StartupSmart that the partnership was a strategic one that went beyond just the investment dollars.
“It’s exciting to find a partner with whom we can be quite strategic. This partnership isn’t just cash and it will help us grow OneShift into a thriving global business,” Ms George said, adding the partnership aligns with each company’s independent goals and has been in the works since December 2012.
“We’re looking to expand as quickly as possible. The beauty is this is a very strategic move, as we can grow really quickly through their assets across the country. Programmed see that there is growth in the online recruitment space and know they need to get involved, either on their own or with someone already in the market.”
The two companies will remain completely separate. George says no decision has been made about where to invest the funds, as the two teams would be sitting down to discuss this in the coming months.
Ms George added: “We’re in the honeymoon phase, but really we need to sit down and take the next steps together and make sure we’re using our assets best. Because we’re an online business, we’re not looking to grow our staff base to support the coming growth.”
“We’ll be talking about investing in everything from marketing to increasing presence around the world such as putting new offices in other places,” she said.
Ms George said that their first international market will be New Zealand before they look to their Asian neighbours. Almost a third of OneShift’s revenue now comes from placing repeat users in full-time work.
Ms George continued: “New Zealand is an obvious next step as we have a lot of people signing up when they come over here for work and want to use the app again when they get home.”
“We’ll then focus on Asia first. Our biggest challenge is going into other languages but we think it’s important to get localised in the southern hemisphere first before moving to the northern hemisphere,” she concluded.