Assured Labor

ASSURED LABOR SECURES $1 MILLION IN SEED FUNDING TO GROW MARKETPLACE FOR JOBS IN EMERGING MARKETS

Mobile Phone Based Job Matching to Change the Face of Recruitment

NEW YORK, April 28, 2010 – Assured Labor, Inc., (www.AssuredLabor.com), the first web and mobile marketplace for jobs built exclusively for emerging markets, announced today that it has raised $1 million in seed funding. The funding will enable the company to expand its Latin American offering, EmpleoListo (www.EmpleoListo.com), and to enhance its disruptive recruitment technology.

Assured Labor leverages the power of text messaging and the Internet to connect employers with mid-to-low wage workers. The innovative service is optimized for the way that candidates in emerging markets really find jobs, as 67 percent of Internet users do not have a computer at home. Job seekers who register with Assured Labor can connect with hundreds of employers, and receive interview requests via text message, while companies that suffer from high worker turnover can shorten their recruitment process from weeks to hours. Filling positions sooner enhances companies’ productivity, and grants workers additional opportunities to earn income.

“Through Assured Labor, job seekers around the world will be able to leverage their mobile phones to connect with job opportunities,” said David Reich, CEO and co-founder of Assured Labor. “Traditional job boards have only impacted the tip of the iceberg. Assured Labor’s cost effective platform enables employers in emerging markets to leverage the ubiquity of mobile phones to hire better workers faster than ever before. We’re thrilled to have brought on a group of investors experienced in building digital marketplaces around the world.”

Assured Labor’s funding comes from notable investors including: Nexus Venture Partners, Kima Ventures, Michael Van Swaaij (former CEO and Chairman of Skype), and Fabrice Grinda (CEO of OLX.com) among others.

Founded at the MIT MediaLab, Assured Labor has promoted employment through efficient and transparent marketplaces in multiple geographies since 2008. The company launched its pilot in Central America in 2009 in partnership with the region’s largest wireless carrier.

About Assured Labor, Inc.

Assured Labor leverages the power of text messaging and the Internet to connect employers in emerging markets with mid-to-low wage workers. The marketplace for jobs leverages mobility to reach workers who are connected by mobile phones, but not consistently on the Internet. Assured Labor offers companies that suffer from high worker turnover a platform that can shorten their recruitment process from weeks to hours. Filling positions sooner enhances companies’ productivity, and grants workers additional opportunities to earn income. Founded at the MIT MediaLab, the company launched its Latin American marketplace, EmpleoListo, in 2009. More information is available at www.assuredlabor.com.

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