Early stage startups always need top tech talent, but they sometimes struggle to find the best people to help grow their business. That's why Chicago VC firm Lightbank has built a tool that lets techies easily apply to all of its Chicago portfolio companies from one application, allowing the firm's companies to source more candidates.
On Wednesday, Lightbank launched Lightbank Connect, a platform that allows people to apply to the firm's more than a dozen local tech companies. Built by Lightbank analyst Ali Afridi, Lightbank Connect lets job seekers fill out an online application with their qualifications and preferences. Lightbank then shares the applications twice a week with the participating companies, and companies reach out directly to the candidate if they are interested.
The idea is to give Lightbank's portfolio companies more resources for finding talent, especially younger companies that don't have the money to spend on internal recruiting, Afridi said.
"A lot of (our portfolio companies) said that they were having trouble finding good technical talent for their companies," he said. "(At Lightbank) we provide mentorship and advice, but this is another tool to provide value to the companies we invest in."
While Lightbank Connect is currently just for its Chicago companies, the firm expects to expand it to include all of its companies nationwide, Afridi said. Participating companies include Uptake, Sprout Social, Tempus, Fooda, SnapSheet, BenchPrep, Tagkast, Drivin, Charlie, High Ground, Catalytic and Hireology.
Lightbank, founded in 2010 by Groupon co-founders Eric Lefkofsky and Brad Keywell, invests in startups from a $200 million fund and has made more than 100 investments since it launched.
Image via Lightbank Connect
