Melbourne-based startup Beanhunter has just acquired industry job board CoffeeJobs.com and is about to launch a $3 million capital raise as it looks to expand and monetise its coffee shop review site.
The $3 million raise would give the company a valuation of $10 million, Al Ramsay company co-founder told Business Insider.
The terms of the Coffeejobs.com acquisition have not been disclosed. However, the newly acquired site helps cafes and coffee roasters make it easier to find staff quickly which is something Beanhunter CEO James Crawford said was a good fit for Beanhunter.
“We see this as a ‘marriage made in Heaven’,” Crawford said. “Beanhunter’s 12,000 cafes will now have direct access to CoffeeJobs.com to help find their most valuable asset – their staff, and in particular the best baristas.”
The site clocks about 1.2 million page views a month, Crawford said, adding its a good addition ahead of the company’s upcoming funding round.
Ramsay said the acquisition is about having a monetisation strategy in place for the raising.
The guys came up with the idea back in 2008 when they were travelling a bit for work and found it difficult to find the best coffee in each location.
“The information was scattered and not in one place,” Ramsay said, adding, “There was no one place where coffee lovers could share where to find great coffee.”
The company has already secured investment from RetailMeNot founder Guy King and will use the next round to expand its headcount, grow the platform and add additional revenue streams.
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