Curated Intel from the Talent Tech Industry
October 16-22, 2023:
• Blushing in the US Southwest: RedNevada intros RAI, a new AI-enabled recruitment tool;
• Positioning to be Scrooge: iCIMS survey finds holiday hiring down 25 percent from prior year;
• Addressing the need for better messaging: The Martec raises $8M for AI recruitment marketing;
• Racing from zero to superstar: Aussie Employment Hero raises $167M Series F and goes unicorn;
• Opening the door more effectively: Berliner TransactionLink raises €5M for better onboarding.
Get the info and connections your business needs to go for the gold; attend TAtech Europe & The World Job Board Forum. Don’t miss the premier B2B conference for job boards and talent tech companies in the EMEA region! Coming up in London on December 4-6, it is the only event that’s specifically designed for company CEOs, their direct reports and rising stars and totally focused on advancing the bottom-line growth of their enterprises. So, register today and accelerate the success your company achieves, today, tomorrow and into the future!
RedNevada launches RAI, a new AI-enabled recruitment tool
RedNevada.AI, the leading provider of AI enabled software, has announced the launch of RAI, a comprehensive and advanced AI solution. “We worked with pilot customers of all sizes and complexity, to test our hypothesis: that AI can dramatically improve the efficiency and accuracy of the recruitment process”, said Stuart Houghton, Founder and CEO of RedNevada.AI. In late 2022, RedNevada.AI performed extensive market research into how AI technology could benefit the recruitment life cycle from initial job description through to placement. The research showed that the recruitment process can be very time and labour intensive and that success rates per applicant are directly related to the quality and accuracy of the work put in. The team at RedNedava.AI set out to use AI technologies to significantly increase the efficiency of this process and to help achieve a much higher applicant success rate. The result was RAI, the most comprehensive and advanced solution in the market. RAI was extensively tested with a wide range of pilot customers across multiple geographies and industries to ensure the efficiency cost saving and that it properly assisted the people who will directly benefit from a toolset such as RAI. Following the results of this testing the final RAI product set was released and launched.
No help wanted: Retail openings for winter season down 25%, report finds
Retail and transportation employers are tapping the breaks on hiring for the upcoming holiday season, historically their busiest, according to an Oct. 12 report from talent acquisition technology provider iCIMS. By contrast, applications for these roles remain high, providing talent acquisition teams with a robust pool of candidates and making it more competitive for job seekers, the report said. Updated research from iCIMS’ proprietary database found that compared to this time last year, retail hirings and openings decreased by 12% and 25%, respectively, while job applications increased by 46% from September 2022, the platform said. In the transportation sector, hirings declined by 22% and openings decreased 2%, with job applications increasing by 13%. “In two years, we’ve seen a shift in these industries from hiring teams looking for warm bodies to fill roles to an influx in applicants,” Rhea Moss, iCIMS’ global head of workforce and customer insights stated in a release. “There’s a lot less pressure now to hire just anyone, and teams have the chance to be a little more tactical in their hiring as they approach their busy season.”
The Martec Secures $8M To Accelerate AI-powered Talent Marketing Tech Adoption
The Martec, an AI content platform revolutionizing the talent marketing space, has today announced an $8m raise to accelerate its global expansion, led by AS1. Other participants in the round included AirTree Ventures. With a January 2023 full-suite launch, The Martec has already acquired many of the world’s top brands as customers including Sainsbury’s, Marriott, Vodafone and Siemens. With organizations facing historic shortages of talent in competitive markets, while often simultaneously messaging on layoffs or hiring freezes, the demand for better talent marketing and communication has never been more important. The Martec uses AI to engage both external hard-to-hire talent, and employees internally, delivering personalized content at scale throughout each individual’s career journey. Across regions, languages and cultures this raises the bar for global talent communication to standards usually reserved for customer marketing.
From zero to Employment Hero: HR unicorn raises $167M
In a startup world where down rounds prevail and much beyond low-million Series A raises are practically (but not totally) unheard of, those rare megabuck funding rounds stand out just that little bit more today than they did even a year ago. With that in mind, Employment Hero, an Australia-based recruitment, HR and payroll platform, today announced it has secured AUD$263 million ($167 million) in a Series F round of funding. This makes the Sydney scaleup a fully signed-up member of the (U.S. dollar) unicorn club, with the nine-year-old company hitting a valuation of AUD$2.13 billion ($1.37 billion) — a 75% hike on the valuation at its AUD$1.25 billion ($791 million) Series E round last year.
Berlin-based TransactionLink raises €5 million to build and automate companies’ onboarding process in minutes
TransactionLink, a drag-and-drop builder saving onboarding teams time and money, has raised a €5 million seed round to expand its KYB (know your business) product into new sectors and grow its co-headquarters in Berlin and London. The round was led by White Star Capital, a global multi-stage investment firm, with additional angel investors from London and Paris joining the round. Existing investor Target Global, alongside other angels from the pre-seed round, also participated in this new round of funding. TransactionLink gives teams the power to build and automate their business onboarding processes in minutes. From creating complex workflows, to adding risk and decision logic, and integrating with best-in-class KYC/KYB services – all with no code. The platform automates back-end checks and front-end customer interactions for a complete end-to-end experience. It removes the need for large, costly operations teams, and means engineering teams don’t have to spend time building an onboarding process from the ground up.
Go for the Gold at TAtech Europe & The EMEA Job Board Forum
Get the info and connections your business needs to go for the gold; attend TAtech Europe & The World Job Board Forum. Don’t miss the premier B2B conference for job boards and talent tech companies in the EMEA region! Coming up in London on December 4-6, it is the only event that’s specifically designed for company CEOs, their direct reports and rising stars and totally focused on advancing the bottom-line growth of their enterprises. Whether your company is a niche or general job board, aggregator, talent marketplace, online classifieds business, programmatic platform, chatbot, conversational AI solution, ATS, recruitment marketing solution, CRM platform, interviewing or assessment system or talent technology consultancy, this event will supercharge your sales and your profits. So, register today and accelerate the success your company achieves, today, tomorrow and into the future!