Free Job Posting with Recruitment System




Seekers Technology Sdn Bhd is a Headhunting Technology development company, and the service provider of Seekers platform. Our mission is to equalize career opportunities.

Since our founding in 2016, we have achieved the following numbers to date with our headhunting business as our main focus.

  • Successful hirings: 417
  • Revenue: RM4 million
  • Employer Database: 2,200
  • Candidate Database: 50,000
  • Recruiter Database: 22,000

Till 2019, Seekers was solely in the headhunting business, but with the advent of COVID-19 at the end of the year and the inevitable changes in the market, we decided to expand our business model.

The chart above clearly shows that we started to gain traction during the pandemic period. This massive increment is achieved with the Seekers Recruitment System ("SRS"), a web app for employers, which was launched in May 2020.

In other words, in 2020, a business with a domestic market cap of RM889 million, a SEA market cap of RM6.4 billion had started to take off.

The details of how Seekers solve problems, generate revenue, and move closer to the cap will be specified in the following chapters, but based on this traction, it has already succeeded in making a new cash point from SRS as well as keep earning from an existing headhunting business model.

Therefore, 2021 will be a year of scaling up, and 2022 and beyond will be about further increasing revenue in the domestic market and expanding the global version of Seekers.

We suppose your investment decision has never been easy, but we at Seekers are doing our best to provide as much information as we can below. It would be a pleasure if you can add us to your investment consideration list after reading.


Despite the proliferation of numerous online job portals, employers are still unable to solve one major problem, and that is the inability to find the candidates they are supposed to.

And the following brief data reveals that this problem is not due to the quality of the job portals, but to the concept.

Even if there is a job site that all job seekers see, employers can only reach about 5% of the total candidates. (And this is a fact that becomes even clearer if you now examine Google's keyword search volume data.)

However, our headhunting experience has shown us that many people who are not visiting job sites are interested in jobs they can apply for, and some of them will really apply. In other words, the most important thing is to "show the job information to the candidates who have not visited the job site recently”.


So we developed a headhunting system and community like this:

It is a system and a recruiting community that allows employers to use recruiters whenever they want. These recruiters reach out directly to former colleagues, friends, or use social media to deliver job postings to people who don't normally visit online job sites.

By using this headhunting system, we have successfully completed more than 400 headhunting projects, even though we have never employed any internal recruiters.

There have been several companies in Malaysia and around the world that have tried to create something similar, but they have given up due to the high barriers of both technology and community building.

So what is this recruiting community? It will be explained in the next chapter.

Freelance Recruiter - the ideal side income program

As of today, over 22,000 people, mostly Malaysians, have registered with Seekers as recruiters, and their identities are very diverse. Here are some examples of people who are actually active.

We found that the 22,000 recruiters can be divided into three broad categories.

  1. Industry Insiders
    • People who work in a particular industry. Their strength is the network they have built during their careers.
  2. Housewives and students
    • Time and motivation are their strengths. Since networks are often not sufficient at first, headhunting methods and knowledge shared by the Seekers team are being helpful to make money consistently.
  3. Former headhunter, HR
    • Strengths are the candidate database and network they already have. HR professionals, in particular, often do not have a commission scheme from their employers, so they appreciate the opportunity to earn extra income by using the Seekers app.

By running this recruiting program, we are able to solve modern career problems that cannot be solved by regular job placement, which is the reason why our app is widely used, we believe.

As you can see from the diagram above, all the user needs is a smartphone. If users don't have any knowledge about recruitment, they can still earn money by getting Seekers' free learning support and gain confidence as they acquire useful skills.

Also, the recruiter is basically online, so it doesn't matter what country they live in now. We have already successfully headhunted for jobs in Singapore and Japan, and we expect to increase our revenue further when Seekers goes international.

Candidate’s Career Problem & Solution

The most important part of the job ecosystem is the candidate. If we can't solve the candidate's problems, the ecosystem will not continue to run well.

However, there are too many different job and career issues that candidates face that it is very difficult to solve them one by one. Therefore we decided to solve the root cause of the problem, and to do so, we clarified the mechanisms that cause career issues.

If candidates don't have the opportunity to think about their careers, they will just age without the chance to verify their value or think about the skills they need, so they will get fewer job offers and enter a vicious cycle of career failure.

The easiest way to avoid falling into this vicious cycle is to have contacts with a number of relevant employers. So we have perfected a system where "companies can make offers to individuals, and individuals can also express their interest to companies”.


This application JobFinder, along with Employer’s SRS, are two sides of the same coin. The JobFinder App is a job marketplace used by candidates, while SRS is a candidate marketplace used by employers.

And with the involvement of a recruiting expert in between, the basic development of ecosystem above was completed in February 2021.

Each of the three parties is the driving force behind the opportunity, and we keep developing and managing the systems and platforms that will allow us to accumulate data in a fast and permanent manner, enabling us to provide even higher value-added services.

In addition, the following system is already included in the JobFinder app to avoid the problem of "the complexity of updating candidate information causes candidate profiles to become outdated and the ecosystem to die." like competitors’ services.

A resume is a document that is essential for an interview. That's why we developed a technology to flexibly handle the text data specified in resumes, and created an environment that allows JobFinder users to update information most easily.

In this way, we have completed the foundation of a new highly scalable weapon as Seekers 3.0. However, I've barely touched on profitability so far, which I imagine makes you feel uneasy, so I'll specify the numbers in the next chapter.


Seekers' fiscal year starts in April and ends in March, so FY20 data covers the period through March 2020.

The increase in revenue is mainly due to an increase in the number of headhunting successful cases, while the increase in costs is mainly due to an increase in internal headcount.


As of today, more than 2,200 companies have registered with us, and about 400 of them are clients that also have headhunting contracts with us.


A straightforward way to describe this model is that it is a probability game with success fees. By raising the quantity by handling more jobs, and by increasing the conversion rate of each step by managing the process well, the number of successful cases increases.

The diagram above shows the general flow for establishing a headhunting model. About the percentage embedded in the circle, which is the probability of each step against the overall number of jobs per month. As a result, about 10% of all jobs are successful and actually turned into money.

The actual invoice amount is typically contracted as the hired candidate's annual salary x 15% (up or down depending on the client). In the above figure, the Headhunting Model generated a gross profit of RM35,225 in December 2020. Therefore, the model itself already meets the standards to be profitable.


This model differs from headhunting in that it is a freemium model that generates profits through software sales mainly.  Since the launch of the paid feature was in October 2020, the revenue for December was still only RM1,460, but the revenue model is now in place while the number of users is exploding. The figure below shows the four cash points of the SRS, which will be completed in April 2021.

Functions Sales

Recruiter Boost and DB Scout are the two services that are currently available and consistently generating sales. Companies that don't have the budget to use headhunters but can't get candidates through Job Posting alone are purchasing these services.

Convert to Headhunting Client

This was the most important reason for the development of SRS. The online presence and ability to generate traction is what makes it possible to consistently and automatically get customers for our most profitable model. In December 2020, 4 clients were acquired thanks to SRS.

HR Marketplace

SRS is a tool that is frequently used by people in HR and management roles. In other words, it has very good traction as an HR-related marketplace. We have received inquiries from companies that provide catering services for corporate lunches and companies that sell vouchers for employee benefits.

Upgrade to Premium Account

Function Sales has generated several repeat customers, but the problem is that the probability of a first-time purchase is low. In other words, it is important to get the customer to make a first purchase once, so we will offer a plan that will provide essential and permanent values in order to make an initial transaction more.

JobFinder App

This model differs from the above two in that the candidates are the ones being charged, so it is a so-called B2C model. In-app purchases will be the revenue of this model, and this content is deeply related to SRS, so please refer to the illustration below.

The simple yet powerful logic is that candidates who make in-app purchases will receive more job offers because employers can send job offers without paying for DB Scout Credit, and the exposure for the matched employer is tremendously higher.

As of February 2020, we are running an operational experiment as a beta version, assuming that all users who have downloaded the app are those who have made in-app purchases, and we expect to be able to launch this model in April without any problems.

Monthly Cost Structure

The table below shows the most recent costs sorted by management accounting standards. It may fluctuate up or down by about RM10,000 per month due to necessary expenses (license renewal, etc.).

Cost Name Amount Ratio for Headhunting for SRS for JobFinder
Corporate Management RM21,500 17.30% RM7,310 RM7,095 RM7,095
Marketing RM12,750 10.26% RM6,350 RM6,400 RM0
Platform Development & Maintenance RM30,000 24.14% RM2,500 RM14,500 RM13,000
Client Management RM18,000 14.49% RM15,500 RM2,500 RM0
Recruiter Management RM20,000 16.10% RM15,000 RM5,000 RM0
Candidate Management RM22,000 17.71% RM22,000 RM0 RM0
Total RM124,250 100.00% RM68,660 RM35,495 RM20,095

Seekers' organizational management is focused on scalability. It is the fate of recruitment agencies to have to increase sales and internal recruiters in order to increase revenue tenfold or a hundredfold, but Seekers does not have a sales team dedicated to client acquisition, nor does it have internal recruiters.


We are targeting two main markets: the headhunting market and the online recruitment services market. However, since this service is still only available in Malaysia and the main revenue is generated from Headhunting, we have defined the market as follows.

Market size calculation method
  • SAM = Total annual revenue of 22 major recruitment companies in Malaysia
  • SOM = SAM + total annual revenue of 8 major job portals in Malaysia
  • TAM = SOM x Total GDP of each country / GDP of Malaysia
Service Addressable Market ("SAM")

This is the market where our main revenue model, headhunting in Malaysia, belongs right now. It is only a matter of time before we reach the cap of this market as Seekers has handled all industries and all types of jobs and has successfully completed a wide variety of deals, while at the same time having a low cost structure that most headhunting companies cannot achieve.

Serviceable & Obtainable Market ("SOM")

This is the market where we have seen the potential to capture since October 2020 when we launched the SRS paid function. It's just a matter of which online site an employer's hiring budget will be spent on, so it's not hard to see how SRS's paid features, which add more value than a typical job posting, will invade the market.

Total Available Market ("TAM")

Market size including Southeast Asian countries (Singapore, Thailand, Indonesia, the Philippines, and Vietnam) and Hong Kong.

There is a higher TAM for the global market, but due to the lack of numbers to calculate and the need to realistically localize the service and build a support structure, we decided to base the TAM on this region.

Incidentally, Malaysia is one of the most popular countries in the world for outsourcing customer support due to the large number of people who can speak multiple languages and the relatively low wages, so it is possible to build a team in Malaysia that can provide support in other countries.


To sum up the story so far, it is clear that Seekers holds a strong advantage when compared to its competitors.

All of the online job sites treat only 5% of the total workforce, the site visitors, as candidates and have no advantage.

Also, all of the recruiting firms already have a large number of internal recruiters and sales teams, but also have very little accumulated technology, so they are not scalable.


Seekers Technology Sdn Bhd is raising RM1,500,048 in exchange for 15.47% equity to support the growth of the company. We are aiming to utilize 78% of the fund in company’s operation and finance while 22% of the fund will be used to cover the development cost. The allocation of the fund is as follows:


Updating the Job Ecosystem with Headhunting Technology

Seekers is revolutionizing the job platform with the power of the recruiting community


We have a partnership with e-Rezeki, MDEC's sharing economy promotion division, starting in 2019 to exchange information and receive support for growth.


Seekers successfully secured RM374k investment from Startup Square. Startup Square is a VC company in Japan that provides hands-on support and M&A services for EXIT opportunity


Ryotaro Ejima, Founder CEO
With more than 20 years of corporate experience, Ryotaro Ejima specializes in establishing businesses from scratch. He grabbed the business opportunities in Malaysia by starting different kinds of businesses such as shared office, F&B, IT and recruitment. He combined recruitment and technology and hence Seekers Technology Sdn Bhd was founded in 2017. As a founder, he overviews and advises on Seekers Technology Sdn Bhd’s operation, management and investment affairs.

Moved to Malaysia in 2012 to start a new business. Since then setup several business such as shared office, accounting firm, F&B, Web Media and Recruitment Agency. Taking key role to make them profitable and led to M&A transactions. Involving in Seekers Technology since its foundation and currently he is in charge of finance.

Yuya Suzuki, CFO
Moved to Malaysia in 2012 to start a new business. Since then setup several business such as shared office, accounting firm, F&B, Web Media and Recruitment Agency. Taking key role to make them profitable and led to M&A transactions. Involving in Seekers Technology since its foundation and currently he is in charge of finance.

Shusaku Ueda, Director
Born in Japan, studied in Japan and the U.S., and experienced business in Thailand.
Involved in the development and management of almost all operations, including organization building and management, marketing, design, production, product planning, and logic building.


Salman, Lead Developer
Mechanical Engineering graduate, self-learned fullstack developer from Kedah state. Specialized in PHP (Laravel) and JavaScript (React, Vue), and developed the Seekers platform from scratch within 2 months. As of today, managing projects are Candidate Web, Candidate App, Recruiter Web, Recruiter App, and SRS.


Mageswary, Recruitment Consultant Lead
Being in the recruitment field for practically 7 years, and the core strength is to strategically identify the best candidate for various industries. Together with an extremely dedicated team, performance of recruitment has been established better.


Michael, Recruiter Management Lead
Trained in Public Relations, the strength is in Recruitment and Digital Marketing. From the digital marketing method, incorporate and run successful referral campaigns. Has coached and managed over 20,000 freelance recruiters to make their first RM100, RM1000, RM10,000.

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