KODA gets $1.5 million in angel funding

KODA, an online community for employers to recruit young professionals, has gotten a $1.5 million infusion in private angel funding. The funds will support the company’s growing user base and continued community expansion. KODA’s new financial investment underscores the significant business opportunity involved in using social networking tools to transform the online recruiting space. KODA challenges traditional resources like classifieds and job boards by getting back to the basics: allowing principal parties direct and frequent contact in a fresh, professional environment. Born out of the founder’s own job search frustrations as a recent Tulane graduate in a post-Katrina New Orleans, KODA was designed to fill the gap left by social and professional networks and job boards. “We are committed to challenging a recruitment industry that doesn’t work for today’s young job seekers. I know, because I was one of them,” says KODA CEO and co-founder Jeff Berger. “This latest investment underscores the belief that we are creating a lasting solution with KODA. We plan to use the funds to expand our community solutions for both job seekers and employers.” Since launching in mid-2009, KODA’s employer network has grown to more than 450 organizations including Fortune 500 companies. KODA currently has thousands of young job candidates who have created profiles that allow employers to learn about their unique attributes – the characteristics that typically aren’t revealed until the interview process begins. In turn, employers can provide a complete picture of their organization, culture and strategic differences on their own profile pages. KODA recently announced the hiring of Michelle Slagle, the former chief financial officer for both JobFox and CareerBuilder, as the company’s chief operating officer. The firm plans to use the $1.5 million for operations and product development to enhance the seeker experience and to make the KODA community more interactive. To read more about KODA in 10/12 magazine, click here.