The startup Joonko, which helps employers diversify the workforce - raised $25 million

The startup Joonko, which developed a platform that helps employers diversify the workforce in the organization, raised $25 million in a B round - which brings the total investment in the company to $38 million.
The company was founded in 2016 by Ilit Raz, and the system it developed allows employers access to a database of candidates who belong to minority groups. The unique algorithm identifies the demographic data of each job candidate and matches their resume to the job description.
The automation allows companies to recruit from an extensive database that includes candidates from underrepresented populations, who have undergone an initial screening and are suitable in terms of skills. The system helps many companies that have set themselves the goal of expanding human diversity in the organization, but are unable to do so effectively using conventional recruitment tools.ֿ
Junco's database includes 130,000 candidates from underrepresented populations in the labor market, with 64% of them destined for middle or senior management positions, and 53% of them with a technological background. The company's business model is based on a fixed appointment, unlike other platforms that charge based on the recruitment of candidates - which allows customers to enjoy unlimited access to a pool of candidates.
 Junko employs 45 people, of which 35 are in Israel, approximately 57% of whom are women. In the last two years, the company recorded a 500% growth in sales amounting to millions of dollars. The company has 150 customers, including American Express, PayPal, Adidas and Crocs. Companies that started working with the platform recorded an average increase of 25% in the number of candidates from underrepresented populations, and hired one out of six candidates they tested.
The fundraising was led by Insight Partners and with the participation of Target Global and existing investors Kapor Capital and Vertex Ventures. The investment funds will be used to hire 25 additional employees by the end of the year and to expand the development center in Israel.