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70 Million Jobs isn't accepting new investments

70 Million Jobs’ deadline was April 28, 2020

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70 Million Jobs

Jobs for the formerly incarcerated
Software Social Impact B2C B2B
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$162,545
Raised
676
Investors
Successfully funded and closed on April 28, 2020.
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Co-investors
Founders Fund
San Francisco-based VC firm
Founders Fund is a San Francisco-based venture capital firm and had more than $6 billion in aggregate capital under management as of 2020. Peter Thiel, the founder and former CEO of Paypal, founded Founders Fund in 2005. Portfolio companies include: Airbnb, Stripe, SpaceX, Palantir, Affirm, Oscar, Spotify, Facebook, Wish, Lyft, Postmates, Twilio, Compass, Zocdoc, Asana.
Founders Fund also invested in:
Companies
Y Combinator
The leading startup accelerator
Y Combinator is the world's top startup incubator and accelerator, known for producing breakthrough companies such as Airbnb, Twitch, Dropbox, Reddit, Instacart, Stripe, Coinbase and many others. YC has produced 102 companies worth $150M+ and 21 companies worth $1B+, with a total portfolio value of $155B+.
Y Combinator also invested in:
Companies
Pitch Updates 9 Reviews 182
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Closed on April 28, 2020. Information may not be up-to-date. Campaign closed on April 28, 2020. Information displayed may not be up-to-date.
Problem Solution Product Traction Customers Biz. model Market Competition Vision and strategy Funding Founders
About Team Press

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by 70 Million Resources, Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
70 Million Jobs Crowd SAFE 70 Million Jobs Form C:A 1.10.2020.pdf
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Hear from some of the 676 investors in 70 Million Jobs


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Highlights


$100K+ revenue
Company had over $100K in revenue in the past 12 months
$1M+ raised
Company has previously raised over $1M in capital
Tier-1 Venture backing
Company is backed by a tier-1 VC firm
  • Finding jobs for Americans with criminal records, 2500+ positions filled
  • February 2020 is our best month to date, booking $200,000+ in revenue
  • Just received $1 million+ engagement from Uber (Feb. 2020)
  • The only national for-profit platform in Fair Chance employment
  • $1.4M+ raised from key investors incl. Founders Fund; Y Combinator company
  • 11M+ user community; partnering with 400+ community organizations
  • Addressing a $160B US market, $3.5M projected revenue by 2020

Early Bird Special: $8M Valuation Cap for Crowd SAFE units sold until 12:00 PM PST on Jan. 20, 2020; $10M Valuation Cap thereafter

Problem


70 million chances to change the world 

70 million Americans — 1 in 3 adults — have a criminal record, and most have trouble finding employment after incarceration. Not only do they face difficulty finding a job; without this stability and purpose, nearly 80% of those released from jail or prison will be re-arrested. 

Ironically, while the rate of unemployment for the formerly incarcerated is nearly 30%, the rest of the country is experiencing historically low unemployment.

We match the millions of deserving men and women, desperate for a job, with the millions of available positions in corporate America, solving two very big problems at once.

Solution


The first national for-profit employment platform for people with criminal records

70 Million Jobs is the first national for-profit employment platform to help those with records find employment. We address both sides of the market, offering an avenue for job seekers to find opportunities — while giving employers access to a huge pool of largely ignored and available talent. We operate both a job board and a staffing business.

Product


We make job hunting simple. For everyone. 

If you have a criminal record, finding a job presents unique challenges. We're experts in working with the formerly incarcerated and know what it takes to eliminate these challenges. We’ve made the job search process quick and easy for anyone with a criminal record.

70 Million Staffing

70 Million Jobs


Mobile version

Traction


A community of millions. 2,000+ jobs created.

We’ve secured jobs for over 2,000 deserving men and women since we began.


Projecting a big jump in revenue with the introduction of our staffing business in late 2019

Since we introduced our staffing business in the end of October 2019, our revenue has grown dramatically. We project 2019 revenue to total nearly $200,000 and $3.5 million in 2020.



We're known by the company we keep.

We're proud graduates of Y Combinator, and partner with the City of Los Angeles, the City of San Francisco, and the Society for Human Resource Management (SHRM). 

Companies love our workers.


Customers


An invaluable resource for the country's largest employers. 

We work with some of the largest employers in the country, in industries including manufacturing, construction, warehouse and shipping, food service, customer service, administrative, and technology. Employers address their critical hiring challenges by accessing our vast pool of labor, while also meeting important diversity and inclusion initiatives. 

Business model


A pricing model that works for all employers

On our job board (70MillionJobs.com), employers pay an advertising fee to showcase their jobs. Within our staffing business (70MillionStaffing.com), we serve as employer of record (we handle payroll, taxes, worker's comp, etc.) and mark up all costs, which are passed on to the employer.

The job seeker never pays a penny for our services.



Market


Addressing a $160B market

The staffing and job board industries are big business in the US: $160 billion+. Inasmuch as we alone are focused on the formerly incarcerated, representing 1 in 3 adults, we believe that there is a multi-billion dollar market opportunity available to us.

Competition


A virtual monopoly in a vast emerging market

We are the only national, for-profit company currently dedicated to providing employment opportunities to the formerly incarcerated. There are many other job boards and staffing agencies generating billions of dollars in revenue, but none focus on those with records.  And there are also many community organizations and non-profits that work in reentry, but their focus is only on those recently released; we focus on the much larger population of those released three years ago, seven years ago, 20 years ago. Attitudes — and laws — are changing fast regarding how we view the criminal justice system. We think we're ideally positioned to capitalize on our first-mover advantage and positive reputation in the space.

Vision and strategy


Eradicating recidivism

Our goal certainly isn't modest. We believe that every person deserves a second chance, and that begins with landing a job. As we reach our funding goal, we hope to expand our network and scale our operations to continue chipping away at the root cause of recidivism: unemployment. We're obsessed with finding jobs for one million deserving men and women. We're off to a great start!

Funding


$1.4M in funding to date

70 Million Jobs has raised over $1.4M in funding today from prominent investors, including Founder's Fund, Insight partners, MaC Venture Capital,  Quake Capital, and Y Combinator. By reaching our fundraising goal of $3M, we hope to build out our team so we can enhance our platform and provide more individuals a pathway to employment.

Founders


Richard Bronson, Founder/CEO

Before launching 70 Million Jobs, Richard served as Director of Defy Ventures, a 501(c)3 organization dedicated to providing incarcerated men and women second chances upon release. Before that, he was a co-founder of the popular nostalgia website, DoYouRemember.com. His career began on Wall Street, where he managed money at Lehman Bros. and Bear Stearns. He eventually went on to found Biltmore Securities, a registered broker-dealer based in South Florida. Richard grew Biltmore to nearly 500 employees generating $100 million in annual revenue. After Biltmore, Richard founded Channels Magazine and launched several successful consumer product and service businesses. Richard was convicted of securities fraud in 2002, arising from his activities in the 1990s and served two years in a Federal prison camp.

Deal terms


Valuation cap

$10,000,000

The maximum valuation at which your investment converts into equity shares or cash.
Learn more

Discount

0%

If a trigger event for 70 Million Jobs occurs, the discount provision gives investors equity shares (or equal value in cash) at a reduced price.
Learn more.

Minimum investment

$100

The smallest investment amount that 70 Million Jobs is accepting.
Learn more

Funding goal

$535K

The maximum amount the offering can raise is $535K.
Learn more

Deadline
70 Million Jobs needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Crowd SAFE

A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event. · Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by 70 Million Resources, Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
70 Million Jobs Crowd SAFE 70 Million Jobs Form C:A 1.10.2020.pdf

Bonus perks

In addition to your Crowd SAFE, you'll receive perks for investing in 70 Million Jobs.
Invest
$100
Receive
  • 70 Million Jobs notebook
Invest
$250
Receive
  • 70 Million Jobs t-shirt
Invest
$1,000
Receive
  • We'll feature you or your business on our social media accounts
Invest
$2,000
Receive
  • Founder/CEO Richard Bronson will speak at your event (limit: 1 year)
Invest
$5,000
Receive
  • We will help someone in your hometown from prison transition from re-entry to employment. You can choose someone, or we can help you identify someone in your area and keep you up to date!
Invest
$10,000
Receive
  • We will work with a local reentry organization in your town to get 5-10 people employed in your hometown, or the town/city of your choice.

About 70 Million Jobs

Legal Name
70 Million Resources, Inc.
Founded
Oct 2016
Form
Delaware Corporation
Employees
8
Website
70MillionJobs.com
Social Media
Headquarters
Google Map location of of 70 Million Jobs
145 South Fairfax Avenue , Los Angeles, CA
Headquarters
145 South Fairfax Avenue, Los Angeles, CA, United States 90036

70 Million Jobs Team
Everyone helping build 70 Million Jobs, not limited to employees

Profile picture of Richard Bronson
Richard Bronson
Founder/CEO
Profile picture of Seth  Sundberg
Seth Sundberg
Director of Recruiting
Profile picture of Robin Seligson
Robin Seligson
VP HR
Profile picture of Aaron Friedman
Aaron Friedman
Director of Operations
Profile picture of Joel Parker Henderson
Joel Parker Henderson
Technology Lead
Profile picture of Adrienne Hatter
Adrienne Hatter
Community Outreach Manager
Profile picture of Brad Copeland
Brad Copeland
Marketing Advisor
Profile picture of Alexandre Brown
Alexandre Brown
Marketing Associate
7 more team members
Richard Bronson
Founder/CEO
Seth Sundberg
Director of Recruiting
Robin Seligson
VP HR
Aaron Friedman
Director of Operations
Joel Parker Henderson
Technology Lead
Adrienne Hatter
Community Outreach Manager
Brad Copeland
Marketing Advisor
Alexandre Brown
Marketing Associate

Press

It's Hard For People With Criminal Records To Get A Job-T...
Fast Company Fast Company
·
Mar 3, 2021

If most job seekers use LinkedIn, it's less useful if you've spent some or all of your adult life incarcerated and don't ...

After serving time, a former "wolf of Wall Street" launch...
Quartz Quartz
·
Mar 3, 2021

Richard Bronson knows all too well the struggle of finding a job with a criminal record. In the early 1990s, Bronson was ...

This CEO Wants To Hire 70 Million People
Forbes Forbes
·
Nov 26, 2019

Richard Bronson is not your typical CEO. Like many who hold his title, however, he has a vision. His is to help hire 70 m...

8 Women VCs Share the Most Memorable Pitch They've Ever R...
Entrepreneur Entrepreneur
·
Oct 8, 2019

5 min read This story appears in the October 2019 issue ofEntrepreneur . Subscribe " We asked eight of the entrepreneurs ...

Movement to give people a second chance
YouTube YouTube
·
Jul 8, 2019

Pennsylvania recently became the first state to start automatically sealing records on some arrests and convictions. 70 M...

10 Companies That Are Doing Good While Doing Well
Entrepreneur Entrepreneur
·
May 31, 2018

This story appears in the June 2018 issue ofEntrepreneur . Subscribe " It's hard to judge a social mission. Isn't "doing ...

Startup aims to be a LinkedIn for job seekers with a crim...
Axios Axios
·
Dec 15, 2017

We attended the first leg of Y Combinator's "demo day," its twice-a-year event at which startups participating in its acc...

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Logo of 70 Million Jobs

70 Million Jobs

70 Million Jobs successfully raised $162,545 from 676 investors on April 28, 2020
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Robert, Angel, Charmaine, Mariel, meredith, and 671 others invested. 182 Reviews
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