Shomvob Secures US$1Mn in Pre-Seed from Cocoon Capital

Shomvob, a Bangladeshi B2B job-tech and HR tech platform founded in 2022 by Rifad Hossain, Naqib Faiyaz, and Hasibur Rahman, secured US$1Mn in Pre-Seed funding from Singapore-based Cocoon Capital. Alongside, it received a grant from the Bill & Melinda Gates Foundation to boost employment prospects for low-income women. Shomvob, with over 600,000 job seekers and 1,300 companies registered, targets enhancing employment processes for blue and silver-collar workers, aiming to mitigate productivity losses stemming from mismatches in skills and job requirements. The funding will facilitate the development of a Human Resources Information System (HRIS) integrating recruitment and payroll management to streamline HR processes and improve job access. CEO Rifad Hossain expressed gratitude for the support, while Cocoon Capital's Investment Director, Zong Xi Sia, highlighted their excitement for the investment, praising Shomvob's mission and team for addressing employment challenges and championing equitable opportunities and inclusive growth in Bangladesh.