Business Description
21st Century Communications, LLC was an electronic employment recruiting service, promoted under the name “JobFinder”, which matched job seekers to subscribing employers using a proprietary Interactive Voice Response (IVR) matching system.
Background
The Company was a start-up that had demonstrated proof-of-concept. Prior to the Internet, IVR was leading-edge technology for job matching for non-managerial jobs. The Company sought a strategic investor that could leverage established media and brand recognition to attract employers.
Solution
The Company raised $5 million of Series A preferred stock from Kaplan Educational Centers, a subsidiary of the Washington Post Company. A principal of Carter Morse & Mathias served as financial advisor in the transaction.
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