Gooroo Ventures Ltd (ASX:GOO) has raised circa $2.11 million via a placement of shares at an issue price of $0.10 each.
The company has also appointed Thomas Brown as chairman, to lead the company into the next phase of its growth.
Gooroo will use the proceeds of the share placement to provide funds for working capital.
Thomas Brown is a highly regarded leader in the international human resources sector, having held various board and executive appointments over the past 20 years.
Founded in 2016, Gooroo operates as a predictive technology platform that makes the hiring process more accurate and easier.
The company has three core products; Gooroo Jobs, which matches and ranks candidates to a role, Gooroo Mindspace, which charts the thinking patterns of individuals and Gooroo Communities to build enriched talent databases.
Gooroo has signed numerous subscription contract recently, along with the continued establishment of a recurring revenue base.
The company also signed a teaming agreement with KPMG Solution 49x, representing a new distribution channel to market its unique scalable intellectual property.
Gooroo had a cash balance of circa $1 million at the end of September quarter.