E-recruiting was a great hit during the first dot-com surge. To compete with the competitors in the market with more inventive and precise technologies, another platform in the field has raised a significant round. Talent.com, a portal that combines both recruiter-posted and 3rd party job ads, has raised $120 million in a Series B round for the money, to keep growing internationally, invest in its programmatic search platform, and provide new products and services for customers.
Talent.com is rooted in Montreal, and this round would be led by Canadian VC Inovia Capital, with previous investor Caisse de dépôt et placement du Québec (CDPQ) and new buyers Investissement Québec, Climb Ventures, BDC Capital, and Investissement Québec. It has also obtained $30 million in fresh loans from BMO Financial Group's Technology & Innovation Financial Institution.
The funding will be used to develop more tech to help users see results more related to what they are looking for, and to make Talent.com more employable, with tools to measure the receptivity of ads and bill them based on what gets people to click.
The firm used to be named Neuvoo, which is Finnish for “Advice,” and while it was profitable, it wasn't growing quickly, in part because many people struggled to pronounce the word and its connotation wasn't especially relevant to the mass market. So when Neuvoo rebranded in 2019 and saw Talent.com for sale, it leaped at the chance. It paid $1.3 million for the domain, but the rest of the details are strangely under NDA for three years. When I asked if it was Google, Martinez smiled and answered no, without elaborating.)
Recruit Holdings, a $66 billion Japanese HR powerhouse, owns Indeed.com, ZipRecruiter, which went public last year, LinkedIn, and Google. But today's startups are challenging these more large corporations, exploiting new technologies and shifting consumer expectations to create new competitive battlefronts.
Some, like Deel and Remote, portray themselves as platforms for hiring remote workers; others, like Turing, specialise on a specific skill pool: engineers. SmartRecruiters aspires to be the “Salesforce” of recruitment, as does Beamery. Dover's recruitment platform borrows a notion from another business industry (orchestration). Jobandtalent, Workstream, and Fountain all target hourly, contract, and freelance workers.
Talent.com, like the other three, targets hourly and gig employees as well as skilled labour. Other tools for organisations include the ability to combine their existing application tracking systems and CRMs. Consumers can undertake pay research, compute compensation after tax in their area, and answer profile questions to better tailor their search results. This will also influence future product development.
“It's vital,” Martinez remarked. “The job hunt is aspired. Many are unqualified for the jobs they seek. So we combine experience and knowledge, advising customers on how to become, say, an engineer. On our site, we'll tell you about online educational programmes in that field and know who you are. More value for our users here.”
Image by Gerd Altmann from Pixabay
Talent.com is rooted in Montreal, and this round would be led by Canadian VC Inovia Capital, with previous investor Caisse de dépôt et placement du Québec (CDPQ) and new buyers Investissement Québec, Climb Ventures, BDC Capital, and Investissement Québec. It has also obtained $30 million in fresh loans from BMO Financial Group's Technology & Innovation Financial Institution.
The funding will be used to develop more tech to help users see results more related to what they are looking for, and to make Talent.com more employable, with tools to measure the receptivity of ads and bill them based on what gets people to click.
The firm used to be named Neuvoo, which is Finnish for “Advice,” and while it was profitable, it wasn't growing quickly, in part because many people struggled to pronounce the word and its connotation wasn't especially relevant to the mass market. So when Neuvoo rebranded in 2019 and saw Talent.com for sale, it leaped at the chance. It paid $1.3 million for the domain, but the rest of the details are strangely under NDA for three years. When I asked if it was Google, Martinez smiled and answered no, without elaborating.)
Recruit Holdings, a $66 billion Japanese HR powerhouse, owns Indeed.com, ZipRecruiter, which went public last year, LinkedIn, and Google. But today's startups are challenging these more large corporations, exploiting new technologies and shifting consumer expectations to create new competitive battlefronts.
Some, like Deel and Remote, portray themselves as platforms for hiring remote workers; others, like Turing, specialise on a specific skill pool: engineers. SmartRecruiters aspires to be the “Salesforce” of recruitment, as does Beamery. Dover's recruitment platform borrows a notion from another business industry (orchestration). Jobandtalent, Workstream, and Fountain all target hourly, contract, and freelance workers.
Talent.com, like the other three, targets hourly and gig employees as well as skilled labour. Other tools for organisations include the ability to combine their existing application tracking systems and CRMs. Consumers can undertake pay research, compute compensation after tax in their area, and answer profile questions to better tailor their search results. This will also influence future product development.
“It's vital,” Martinez remarked. “The job hunt is aspired. Many are unqualified for the jobs they seek. So we combine experience and knowledge, advising customers on how to become, say, an engineer. On our site, we'll tell you about online educational programmes in that field and know who you are. More value for our users here.”
"The current talent shortage has been exacerbated by substantial business concerns. « Talent.com has quickly evolved into one of the largest and most international sourcing and recruiting platforms for companies", says Chris Arsenault, partner at Inovia Capital.
“This cooperation launches a portfolio of value-added goods to become a truly job-seeker-centric platform.”
Talent.com has done a great job in raising financial capital through the latest investor round. By doing so, Talent.com has brought its competitors such as Indeed on their toes. The newly raised capital will be used to provide the best quality services to its users and it will help the organization to gain a competitive edge over its competitors.
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