Online recruiting was one of the first and big hits of the early dot-com boom. But with more and more business processes moving online, online job hunting is the gift that keeps on giving, and so today comes news of yet another portal in the space that raises a big trick to take on space holders with more innovative and precise technology. . Talent.com – a portal that aggregates both jobs posted directly by recruiters and ads from third-party recruitment sites – has raised $120 million in Series B funding that it will use to continue to grow. expand internationally, to further invest in its programmatic search platform and to introduce new products and services for users.
Talent.com has a fairly international profile – it currently lists around 30 million jobs at 1 million companies in 78 countries and 29 languages and sees over 28 million monthly active visitors in this footprint – but the startup itself- meme is based in Montreal and this La ronde is led by Canadian VC Inovia Capital, with former backer Caisse de depot et placement du Quebec (CDPQ) and new investors Investissement Quebec, Climb Ventures, BDC Capital, Fondaction and HarbourVest Partners, who are also participating. In addition to the $120 million in equity, it also raised $30 million in new debt financing from BMO Financial Group’s Technology and Innovation group.
Talent.com co-founder and co-CEO Lucas Martínez, who co-founded the company with Maxime Droux and Benjamin Philion, said in an interview that the goal was to use the funding to build more technology so to help consumers see more relevant results for what they are looking for; and make Talent.com the platform more attractive to employers, with tools to measure the responsiveness of ads and charge them based on what makes users click.
(The company itself knows first-hand how to get the right wording to get people interested in content: the startup was once called Neuvoo, Finnish for “Advise,” and while profitable, it wasn’t growing. very quickly, in part because he found that a lot of people stumbled over how to pronounce the word and that its meaning wasn’t particularly relevant to the mass market, so when Neuvoo decided to redesign its name in 2019 and saw that Talent.com was for sale he jumped on it and changed his name and paid $1.3 million for the domain although mysteriously the rest of the details were under NDA for three years so it’s unclear who was doing the selling. Martínez laughed and said no when I asked if it was Google, but didn’t elaborate.)
It is also investing the funding in more international expansion. Martínez told me about Barcelona, where the company is setting up a new European hub.
Some of the big players in today’s market include Indeed.com, which is owned by Japanese HR giant Recruit Holdings, which itself is valued at around $66 billion and owns other brands like SimplyHired, ZipRecruiter, which has gone public Last year ; LinkedIn; and search giant Google. But a number of startups are now clashing with these more established players, taking advantage of new technologies and changing market expectations to introduce new competitive battlefronts.
Some like Deel and Remote position themselves as platforms to help hire employees remotely; others like Turing take the concept remotely and focus it on finding a specific talent pool: engineers. SmartRecruiters has the ambition to be the “Salesforce” of recruiting, an ambition that others like Beamery are also pursuing. Dover borrows a concept from another area of business (its buzzword is orchestration) in its recruiting platform. And Jobandtalent, Workstream and Fountain all have business models for targeting casual, on-demand and hourly workers.
Talent.com, like the last three, largely targets markets that include hourly and gig workers, as well as skilled labor. Along with its programmatic approach to job postings, its other tools for employers include the ability to integrate with their existing applicant tracking systems and CRMs. On the consumer side, users have the option, in addition to basic job search, to research salaries, calculate the after-tax salary in their area, and answer profile questions to better personalize their search results. This will also pave the way for future product development.
“It’s crucial,” Martínez said. “The job search is ambitious. Many are not qualified for the jobs they are applying for. So we combine experience and education, and guide users to what they need to do if they want to become, say, an engineer. We will know who you are and have your CV on our platform and we will say, what are the educational programs in this field online. This is where we will bring much more value to our users. »
It’s playing a broader set of services to generate more revenue from users that has piqued investor interest.
“The race for talent has only been accentuated by the significant challenges companies are currently facing. Talent.com has quickly grown to become one of the largest and most international platforms for employers to search and recruit,” said Chris Arsenault, partner at Inovia Capital, in a statement. “This partnership triggers a new phase of growth as they launch a suite of value-added products to become a true job seeker-centric platform.”