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Wednesday, July 19, 2006 - Page updated at 12:00 AM

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Jobster reels in $18 million more in VC

Seattle Times technology reporter

Jobster, which helps employers recruit online, has raised $18 million more in venture capital and is launching a service for employees.

The Seattle company has now raised $48 million, a significant amount for a two-year-old enterprise.

The new money comes on the heels of the launch of Jobster's new Web site, which went live Thursday. The site (www.jobster.com) now allows job seekers to search for an opening by job title and city.

The results are pulled from numerous sites, including Monster.com, craigslist and others.

Jason Goldberg, Jobster's founder and chief executive, said it's much more than a static page of search results, with job seekers getting a social-networking experience of sorts. In addition to openings, workers will be able to enter their thoughts about their employers on pages with their profile.

"We coupled results with user-generated content to give a feeling of what it's like to work there. It's a more human experience," Goldberg said.

Questions range from the type of music you like to what you can walk to from your office or see from your desk. For now the comments are limited to specific topics.

The $18 million in new funding comes from the venture arm of Reed Elsevier, the London publishing company that owns LexisNexis, Harcourt, Holt and Reed. Also participating in the third round of capital were existing investors Ignition Partners, Mayfield Fund and Trinity Ventures.

Jobster plans to use the new money to expand internationally, where it has some customers but little presence.

Goldberg said Jobster had not been looking for a third round of funding, but that Reed Elsevier approached him. The deal not only worked financially but was a good strategic fit.

"It takes money to build a business," especially a growing one, Goldberg said.

Jobster expects to double the number of customers from 400 to 800 and increase Jobster's own headcount from 120 to 140 employees by the end of the year.

Today, it lists 15 percent of the Fortune 100 companies as customers, including Starbucks, Boeing, Microsoft and Google.

Goldberg expects the company to be profitable next year.

Tricia Duryee: 206-464-3283 or tduryee@seattletimes.com

Copyright © 2006 The Seattle Times Company

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