- Aggregates small and independent recruiters under a common platform and provides them with access to more clients and technology
- Diverse network of more than 27,000 recruiters helps organizations reduce recruiting costs and shorten recruiting cycles with access to on-demand recruiting and AI and video technology
- Acquisition of OneWire will add to member network and immediately expand the reach of OneWire's SaaS platform for financial industry hiring
What Recruiter.com does:
Recruiter.com Group Inc (OTCQB:RCRT) is helping to streamline the hiring process for employers and job seekers alike.
The company’s diverse network of more than 27,000 recruiters helps organizations reduce recruiting costs and shorten recruiting cycles with access to on-demand recruiting and AI and video technology.
Essentially, Recruiter.com aggregates smaller hiring firms and independent recruiters under a common platform and provides them with access to more clients and technology. Clients include big names like Ford Motor Company, Disney, Schlumberger and other major enterprises. The company was voted “Top Tech Company to Watch” by the CT Tech Council, cited as one of the “Top 35 Most Influential Career Sites” by Forbes, and listed by Inc. as one of the “9 Best Websites for Finding Top Talent.”
Recruiter.com provides companies small and large with access to on-demand teams of virtual recruiters armed with AI-powered candidate sourcing tools. Clients can engage recruiters on an hourly basis through Recruiter.com On Demand, or they can post jobs to Recruiter.com and pay a success-based fee.
The Houston-based company is rising to meet the challenge that the coronavirus pandemic has had on traditional hiring practices. As businesses turn to platforms like Zoom and Skype to substitute for in-person meetings and live interviews, the firm has introduced new platforms like video resumes to help connect qualified candidates with hiring managers earlier in the process.
Led by CEO Evan Sohn and COO Miles Jennings, the $14 million company has a tight share structure with only 5.5 million shares outstanding. Sohn and co. are hoping to lead the company into 2021 with expanded capabilities to fuel its share of the $120 billion recruitment industry.
How it is doing:
Recruiter.com is headed into the new year with a significant upgrade to the software for its AI and video-enabled hiring platform.
The company completed the investment to ensure its platform is scalable to meet the employment surge that is set to follow the expected easing of COVID-19 restrictions in 2021. Changes include new AI/video features that will allow users to shave days off the hiring process through video screening coupled with AI-matching from a database of hundreds of millions of profiles; a re-imagined design and user experience; enhanced tech server infrastructure, databases, and software environment; and new data points and reporting that will give its users more information up-front.
Recently, the group unveiled a new on-demand virtual training program to help career changers break into the world of virtual recruiting. The Recruiter.com Academy expands its training offering from a self-service content-driven experience to a world-class program with live instructors, guided assignments, and hands-on one-on-one training. The Academy is also in partnership with CareerDash, a leading E-learning provider of career training, certification, and job placement services.
But the company's biggest catalyst for growth so far is its planned acquisition of financial services platform OneWire, which includes an SaaS platform, Matchbook software and OneWire’s executive search business, as well as an expansive financial services database that boasts over 700,000 candidates.
The all-stock deal will add to Recruiter.com’s member network and immediately expand the reach of OneWire's SaaS platform for financial industry hiring. The companies plan to integrate their assets to deliver unified, subscription-based human capital solutions, from junior and intern-level personnel to management and executive-level talen.
- Execution of definitive purchase agreement for the OneWire deal by the end of January 2021
- Growth of its on-demand virtual training program into a substantial revenue stream in 2021
- Build-out of video screening technology amidst pandemic and work-from-home paradigm
What the boss says:
"Recruiter.com's mission is to become the most collaborative and connective platform for hiring talent," Evan Sohn, CEO of Recruiter.com said in a recent statement.
Of the OneWire acquisition, Sohn added: "Recruiter.com's acquisition of OneWire adds an innovative, subscription-based talent-matching platform; an incredible array of financial, banking, and accounting clients; and a community of industry professionals. We are extremely excited to combine our companies and look forward to driving tremendous growth together in 2021."
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