Talent.com Successfully Raises $120 Million to Improve AI-powered Hiring Platform
Canadian tech firm Talent.com announced that it has successfully raised $120 million in Series B which was led by Inovia Capital. The company closed the latest round just a few weeks after it managed to raise $30 million in debt financing to fuel its expansion.
This injection of the capital comes after a green patch for the company that has witnessed a threefold growth after Cassie de Depot et Placement du Quebec invested in the company in 2019.
According to Talent.com, it has around 28 million unique visitors around the world. It also delivers 50 million customized job alerts each day to the jobseeker’s inboxes.
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What does Talent.com offer?
Similar to multiple recruitment platforms, Talent.com comes with a search page where job seekers can look for opportunities and also set up alerts for their roles of choice.
Job seekers or candidates can use the platform to compare salaries by determining the average salaries of similar positions.
Besides, they can also evaluate the yearly, monthly, and hourly increments and also calculate tax breakdowns using a tax calculator.
On the other side of the coin, organizations can filter candidates, post for open roles, and keep an eye on the job recruitment campaigns using the dashboard.
Talent.com deployed programmatic advertising and relies on a chain of media outlets to fill in the open positions quickly using programmatic advertising.
Programmatic advertising automates the entire process of buying and selling ad spaces via an exchange and acts as the middleman between the advertiser and publishers.
Investor spirits remain high amid slow HR tech adoption
The adoption of HR tech has remained relatively slow compared to some of the other enterprise-grade applications.
However, this trend has not deterred the spirits of investors, the prime example being the recent investment led by Inovia Capital.
Some other investors who participated in the Series B round include Climb Ventures, Caisse de dèpǒt et Placement du Quèbec, BDC Capital, HarbourVestPartners, and Fondcation.
To date, Talent.com has raised $150 million.
But how will Talent.com scale? At the moment, the only feasible strategy would be to convince customers that Talent.com’s platform is better than other recruitment platforms.
Benjamin Phillion, the Co-Founder of Talent.com said that the company’s goal is to capture a huge chunk of customers that are going online. The focus will remain on improving the platform than being a profitable business in this stage of their journey.
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