Mar 26, 2021
Recruiting Technology Headlines
Fetcher, a full-service, recruiting automation platform, announced today that it has raised a $6.5M Series A investment led by G20 Ventures, with participation from KFund and existing investors Accomplice and Slow. This brings the total capital raised by Fetcher to $12M, allowing the company to double down on delivering qualified candidates faster than ever, along with providing better insights & resources to help companies create diverse candidate pipelines.
In order to hire qualified, diverse talent recruiters and hiring managers often spend hours each day discovering, emailing, and nurturing prospective candidates. These monotonous, time consuming efforts often take away from time spent on the candidate experience, meaning the team has less time to engage, market, and connect with potential candidates, which could lead to fewer offers accepted or poor culture fits.
Fetcher’s full-service, recruiting automation platform gives recruiters and hiring managers time back in the day. Rather than using a standard database model, Fetcher’s AI with ‘human in the loop’ sourcing model allows recruiters to spend less time in front of a computer searching for candidates and more time on the candidate experience, making real human connections, while Fetcher’s automated sourcing runs in the background.
Visage, a collaborative candidate sourcing platform, today announced it has raised a $7 million Series A investment led by First Analysis with participation from existing investors Urban Innovation, LLC and NewFund Capital. The investment brings the total amount raised since inception in 2016 to $10.7 million.
The company plans to use the new funds to expand its AI and human-powered crowdsourcing system and to develop its new Platform solution that enables teams to increase productivity, automate candidate engagement, and integrate with existing applicant tracking systems.
“We’ve reached a pivotal point in technological advancements where we no longer have to spend our time scouring the internet and sourcing candidate profiles for hours at a time,” said Joss Leufrancois, Co-Founder and CEO of Visage.” AtVisage, we intelligently train our systems to look for and find these profiles. Visage’s combination of AI and a global team of human sourcers enables recruiters to save time and money, increasing efficiency and leaving more time for the human side of recruiting.”
Job site ZipRecruiter has added new matching technology to help job seekers discover jobs that they are qualified for. Under the new algorithm they get feedback about how strong a match they are for every job. The guidance is generated using artificial intelligence algorithms trained on data from billions of employer and job seeker interactions in the ZipRecruiter marketplace.
How It Works
For each job, ZipRecruiter now shows job seekers a match score—either Great Match, Good Match, Fair Match, or Not a Match—which provides insight into how likely they are to be received favorably by a hiring manager for that particular job. It also provides recommendations on ways job seekers can improve their odds of success, such as by updating their profiles or resumes with more relevant qualifications.
On the ZipRecruiter mobile app, the feature reduced job seeker’s applications to jobs for which they were not a match by 47%, on average, while raising applications to jobs for which they were a great match by 26% and for which they were a good match by 14%. That led to better matching and higher satisfaction for both employers and job seekers.
ResumeSieve™ announced the launch of its innovative candidate evaluation platform, The Sieve™. In addition, the company is offering extended benefits for early adopters of the tool.
“Small businesses need access to affordable, easy-to-use recruiting tools,” said Dr. Mohan Kakar, creator and founder of ResumeSieve™. “We created The Sieve™ to reduce the time spent evaluating resumes. It was our observation that fatigue, bias and errors during the evaluation process were adversely impacting the ability for organizations to recruit the right talent. We decided to use AI based automation for evaluating resumes and providing quick insights to recruiters that would otherwise take them a significant amount of time and effort.”
“Our approach is to present easy-to-use, cost effect tools to the SMB market around the world,” said Michael Yinger, CEO of The Sieve™ who has spent 20 years driving improvements for the recruitment industry. “Starting with The Sieve™ we plan to provide ongoing innovative talent evaluation solutions that are not available in the Small and Medium Business (SMB) space.”
Users of the application estimate that The Sieve™ increases recruiter productivity by up to 70%, improves speed to hire by 35% and reduces hiring costs by 30%.
iHire has announced plans to acquire WorkInSports, a leading employment hub of the sports industry. WorkInSports will join iHire’s family of talent brands, becoming the 57th industry-focused community on iHire’s recruitment platform. Both companies have signed a binding letter of intent and expect the transaction to be completed in the coming weeks.
“For more than two decades, iHire and WorkInSports have formed a strong relationship as two key players in the industry-specific talent acquisition market,” Steve Flook, President and CEO, iHire. “We are thrilled to finally announce our plans to merge and will soon officially welcome WorkInSports to our family of talent communities.”
Steve Flook, iHire CEO
Post-acquisition, WorkInSports will be fully integrated with iHire’s platform, allowing job seekers in the sports industry to take advantage of iHire’s advanced job matching technology, career resources, resume writing tools, and more.
Poach, the recruitment intelligence software that tracks employee sentiment and corporate news online, today announced a product update. The previous version of the solution allowed users to monitor one company, with limited data, at no charge.
Current and new users can still track one company for free, but users can now upgrade and follow up to 25 competitors from one account. Additional updates announced include:
“Users want access to more and more data,” said Poach founder Joel Cheesman. “That’s why we’ve been working overtime on this latest version to add exponentially more information to our engine so recruiters can better monitor the competition