Shomvob, a B2B job-tech and HR tech platform in Bangladesh, has raised US$1Mn in Pre-Seed funding from Cocoon Capital, a Singapore-based venture capital firm. Additionally, Shomvob received a grant from the Bill & Melinda Gates Foundation to enhance employment opportunities for low-income women in Bangladesh. 

Founded in 2022 by Rifad Hossain, Naqib Faiyaz, and Hasibur Rahman, Shomvob focuses on improving employment processes for blue and silver-collar workers. The platform addresses hiring challenges related to paper-based processes and mismatches in job seeker skills and job requirements, which are reported to cause significant productivity losses. Since its launch, Shomvob has registered over 600,000 job seekers and more than 1,300 companies, resulting in over 12,000 job placements across various sectors including logistics, retail, and healthcare. 

The funding will be used to develop a Human Resources Information System (HRIS) that integrates recruitment, payroll management, and other HR functions. This system aims to streamline HR processes and improve access to job opportunities.

Rifad Hossain, CEO of Shomvob, said, "We are immensely grateful for the support from Cocoon Capital and the Bill & Melinda Gates Foundation. Their backing is crucial as we strive to transform the employment landscape in Bangladesh into one that is fairer and more efficient”. 

Zong Xi Sia, Investment Director at Cocoon Capital, commented, "We are thrilled to make our first investment in Bangladesh with Shomvob, a company whose mission and exceptional team have deeply impressed us. Shomvob is not just addressing critical employment challenges; it is championing equitable job opportunities and inclusive growth. We believe this partnership marks a significant step towards creating lasting social impact in the region. We are excited to support their dedicated team as they continue to innovate and expand their transformative solutions.”