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. 

SEE ALSO: Recruitment Startup Circular Raises $10 Million, Set to Enter UK Market

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. 

SEE ALSO: MoxiWorks Completes Acquisition of Lead Nurturing Platform ActivePipe

Feature Image Source: rawpixel.com

 

Karandeep V

Karandeep was born in Pune, Maharashtra, an upcoming metropolitan city in the Western region of India. While most members of his family are engineers, he had different ideas. He was more inclined toward exploring the non-technical aspects of a business, which is why he studied Bachelors of Business Administration at Symbiosis International University, Pune.  Having said that, his love for new and upcoming technologies remained intact, which is why he has written extensively about technology throughout his career. After a brief stint with a gaming company at the beginning of his career, he discovered that his love for writing was not temporary.  Being a tech geek, he always liked installing and playing around with new applications on his mobile devices and the home desktop. He was fascinated by how technology can simplify even the most mundane and complex tasks with just a few commands. He keeps a close eye on how businesses use different tools to streamline their operations to boost productivity and efficiency.  At ToolsMetric, he writes product reviews that cover the main features and specifications of different enterprise applications. The sheer amount of innovation and hard work that goes into building these tech solutions is one of the reasons why Karandeep loves reviewing these tools. Besides product reviews, he also writes interesting news articles and blogs that track the latest developments in the tech industry.  When he is not writing, you can find him rooted to his seat playing video games, watching movies, or supporting his favorite football team. Since his childhood, he has always loved to travel and explore new places. Traveling is a major part of his life due to a myriad of reasons such as experiencing new cultures, food, and traditions. His other hobbies include playing football, cooking, and running.  You can find him on LinkedIn here.

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