Y Combinator Grad The Lobby Raises $1.2M Seed Round to Democratize Access to Wall Street Jobs
NEW YORK, Sept. 27, 2018 (GLOBE NEWSWIRE) -- The Lobby, which gives job hunters direct access to insiders at the best finance firms in the world, announced today a $1.2M seed round that will help it continue to democratize access to competitive Wall Street jobs. Investors include Y Combinator, Ataria Ventures, 37 Angels, and several well-known angel investors such as Carl Sparks, former CEO of Travelocity and Angela Lee, Chief Innovation Officer at Columbia Business School. The Lobby will apply the funds toward hiring and for building out its effective marketplace for connecting job hunters with insiders at their target firms.
Typically the top finance firms recruit only from Top 10 and Ivy League schools, which has led to a notable lack of diversity that those firms are now trying to fix. Candidates who didn’t attend top schools or have personal connections into a firm were often left out in the cold, regardless of talent level.
Founded by a former Wall Street investment banking pro who was able to land a great job despite his lack of formal credentials or connections, The Lobby connects recent and soon-to-be graduates directly with insiders at top finance firms – leveling the playing field for talented candidates who don’t come from the typical Wall Street background. During anonymous 30-minute phone calls, candidates can ask insiders questions, ranging from what it’s really like to work at a firm to how best to polish their resume to make it attractive to recruiting managers. The Lobby’s insiders also provide mock interviews, resume development, and offer one-on-one career advice on how the candidate can improve their chances of landing the job.
The Lobby’s approach has been popular and proven among both job candidates and insiders, who are paid for their time. Launched in early 2018, The Lobby’s revenue has grown by 30-50 percent month-over-month since June.
Matt Mireles, scout investor at Social Capital, invested personally in The Lobby’s seed round. “Talent is spread evenly across society, but opportunity is not. Before our eyes, The Lobby is creating the real meritocracy that we tell ourselves the job market is––or at least should be––by expanding access to society’s most elite jobs to everyone who didn’t go to, or couldn’t afford, Harvard,” said Mireles. “This effective approach could be used across a number of other industries, and I’m betting on Deepak and The Lobby’s team to make that happen.”
Deepak Chhugani, CEO and founder of The Lobby, said, “I know from my own personal experience working at UBS, Merrill Lynch and other competitive institutions that there is a great need for a service like this that gives candidates the chance to talk to insiders that have worked in the industry. We’re on a mission to democratize access to the best jobs and make the hiring process more transparent and meritocratic than it is today.”
To learn more about The Lobby, visit https://www.thelobby.io/.
About The Lobby The Lobby gives job hunters direct access to insiders at the best finance firms in the world, democratizing access to Wall Street jobs. Founded by a former Wall Street pro who was able to land a great job despite his lack of formal credentials or connections, The Lobby connects recent and soon-to-be graduates directly with insiders at top finance firms – leveling the playing field for talented candidates who don’t come from elite backgrounds. The Lobby also helps companies find the best hidden talent. Learn more at https://www.thelobby.io/.
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