The Latest from the Talent Tech Industry
March 15-21, 2021: Jobandtalent gets $120M to enter US staffing market; Indeed launches Hiring Platform for end-to-end hiring without any other software; iHire to acquire WorkinSports.com; American Rescue Plan Act, signed March 11, limits exec pay deductions to more of c-suite; Fetcher raises $6.5M to automate finding and communicating with candidates; Simpeo launches Simpeo On-Demand Talent, powered by GoodJob, to help companies find and retain top talent; RecruitingDaily acquires HCM Technology Report; Jobvite moves HQ to Indianapolis PLUS TA Tech NewZ Makers Kate Koch appointed CFO of Seek; Corinne Ripoche featured in O: The Oprah Magazine, and Johnny C. Taylor appointed to the iCIMS Board of Directors.
Jobandtalent takes $120M from Softbank to enter the US market
Spain’s Jobandtalent, a digital temp staffing agency startup which operates a dual-sided platform that matches temps with employers needing casual labor in sectors like ecommerce, warehousing, logistics and manufacturing, has grabbed €100 million (~$120M) in Series D funding from SoftBank’s Vision Fund 2. Previous investors in the startup include Atomico, Seek, DN Capital, InfraVia, Quadrille, Kibo and FJ Labs. The new raise fast-follows a $108M top up to Jobandtalent’s Series C round, which we reported on back in January. In total, the company has raised a total of €310M (just under $370M) since being founded back in 2009.
Indeed Launches New Hiring Platform
Job aggregator Indeed has launched the Indeed Hiring Platform, a new solution that allows employers to manage the hiring process, from posting through interview, directly on Indeed, with no additional software. The new platform was designed to shorten the time it takes to get candidates into jobs. “With Indeed Hiring Platform, employers can reach 80 percent of US job seekers through the combined networks of Indeed and its sister company Glassdoor,” Indeed said. “In one integrated experience, employers can automate the process of sourcing, screening and scheduling interviews with quality candidates into Indeed’s video interviewing technology, Indeed Interview.” Through the Indeed Hiring Platform, employers set objective screening criteria, so any job seeker whose skills are a match has the opportunity to interview directly through the platform.
iHire Acquires WorkinSports.com
iHire 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. 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. In addition, employers will be able to reach qualified job candidates who are passionate about careers in sports by using iHire’s powerful recruitment marketing technologies – including recruitment advertising, talent sourcing, and employer branding solutions.
Original Source: Company press release
ARPA Expands Deduction Limits on Executive Pay Over $1 Million
A provision in the American Rescue Plan Act (ARPA), signed into law March 11, will increase the number of employees subject to the limit on a corporation's ability to deduct executive compensation. Internal Revenue Code Section 162(m) generally prohibits tax deductions by publicly traded companies on the portion of pay for "covered employees" that exceeds $1 million per year. Currently, covered employees are the chief executive officer, chief financial officer and the three next-highest-compensated individuals. For tax years beginning in 2027, however, the ARPA requires corporations to treat the five next-highest-compensated individuals as covered employees, doubling the number of covered employees to at least 10.
Fetcher raises $6.5M to automate parts of the recruiting process
Fetcher, a startup that promises to make the recruiting process easier while also diversifying the candidate pool, is announcing that it has raised $6.5 million in Series A funding. Originally known as Scout, the New York startup was founded by CEO Andres Blank, CPO Chris Calmeyn and engineering directors Javier Castiarena and Santi Aimetta. Blank told me that Fetcher automates parts of recruiters’ jobs, namely finding job candidates and sending the initial outreach emails. When I wondered whether that just leads to more spammy recruiting messages, he said that Fetcher emails actually result in “a very good response rate” because they’re targeted at the right candidates.
Simpeo and GoodJob Partner for New Talent Offering
Simpeo and GoodJob(tm) announced a partnership that will help companies find and retain top talent. The offering, called Simpeo On-Demand Talent, powered by GoodJob, provides the PEO's clients with the best candidates as identified by GoodJob's proprietary AI technology. Simpeo, one of the fastest growing PEOs in the country, will immediately begin offering the solution to its clients. GoodJob launched its revolutionary hiring platform in June of 2020. The company's proprietary PATH Assessment(tm) and innovative matching algorithms determine if people will be successful in job roles by "cloning" the traits of top performers. The platform simplifies and speeds up the hiring process by enabling employers to identify candidates who have the best chance of success at the very beginning of the process.
RecruitingDaily Acquires Industry News Site the HCM Technology Report
RecruitingDaily, the world’s leading community of recruiters and talent acquisition professionals, has acquired the HCM Technology Report, a website that provides news and analysis of HR technology to executives on the industry’s buy and sell sides. Mark Feffer, the HCM Technology Report’s founder and editor, will become executive editor of both sites as well as their sponsored content operations. “For some time we’ve wanted to expand RecruitingDaily’s reach to serve the growing community of HR professionals and business leaders who rely on dedicated technology solutions to manage the workforce,” said Noel Cocca, RecruitingDaily’s founder and CEO.
Jobvite Moves Headquarters to Indianapolis
Jobvite, the leading end-to-end talent acquisition suite provider, announces today it has relocated its corporate headquarters from San Mateo, California, to Indianapolis, Indiana. Jobvite plans to increase the size of its local workforce over the next three years to more than 300 employees. By combining the power of AI and the human touch, Jobvite provides its customers with recruiting technology to attract, engage, hire, and retain the talent that drives success. The company is proud to serve thousands of customers across a wide range of industries.
TA Tech Newz Makers
Kate Koch was appointed Chief Financial Officer of Seek. Previously, she was the CFO of RMIT University.
Corinne Ripoche, CEO of Adecco Americas & Pontoon Solutions, was featured in O: The Oprah Magazine’s article on advancing women in the workplace.
Johnny C. Taylor, President and CEO of the Society for Human Resource Management (SHRM), was appointed to the iCIMS Board of Directors.