Rec Tech: the Recruiting Technology Podcast This Week in RecTech Jan 15th
Recruiting Technology headlines
TPG Growth and The Rise Fund today announced that they have signed a definitive agreement to partner with Greenhouse, the leading hiring software company used by over 4,000 businesses, as a majority investor. TPG Growth, the middle-market and growth equity platform within TPG, and The Rise Fund, the global impact investing platform managed by TPG, will jointly invest in Greenhouse to accelerate product innovation, grow into new markets, and enhance solutions aimed at accelerating diversity, equity and inclusion in hiring.
The transaction, which is expected to close during the first half of 2021, is subject to customary closing conditions. Word on the street is that TPG paid $500 million for its majority stake in the company.
“Winning businesses are built by talented individuals. Yet every day, organizations around the world base their hiring decisions on hunches and without data, perpetuating biases and limiting human potential. We founded Greenhouse to help companies become great at hiring and reduce bias in the hiring process,” said Daniel Chait, CEO of Greenhouse. “Through this investment from TPG Growth and The Rise Fund, we gain a partner with the resources and vision to support our growth, and who is totally aligned with our mission. The Rise Fund’s unique focus on real, measurable impact is so exciting because it supports our ability to drive positive outcomes for our customers and for society as a whole.”
“Greenhouse has established itself as a best-of-breed next-generation talent acquisition software solution,” said Mike Zappert, Partner at TPG Growth. “The consistent feedback we hear in the market is that Greenhouse’s customers simply love the product. It is easy to use, intuitive, and highly configurable. At a time when an increasing number of companies view talent and recruiting as a strategic imperative, Greenhouse stands out as the go-to solution for Talent teams at companies across industries and around the world. We look forward to partnering with Daniel and the team to continue Greenhouse’s leadership in this important and growing part of the software market.”
https://hrtechfeed.com/greenhouse-software-accepts-major-investment-from-tpg-growth/
Kanarys, a Black and female-founded DEI technology company that gathers specific, actionable insights to help diagnose, prioritize, and optimize DEI efforts in the workplace, has announced the closing of its historic $3 million seed round. Led by Zeal Capital Partners’ Inclusive Investing™ fund, and several other investors.
The funding comes as more companies embrace transparency, prioritize DEI, strengthen workplace culture, and use data-driven approaches. This brings the total amount raised by Kanarys co-founders, Mandy Price and Star Carter, to $4.6 million to date — a positive shift towards more equitable venture capital trends. In 2017, studies showed that 98 percent of venture capital raised in the U.S. went to men.
Kanarys will use the funding to further advance product features, make key hires on the technology and business development teams, and accelerate sales and marketing efforts.
“We know that a focus on DEI in business is not just the right thing to do for employees, it also makes good business sense,” said Mandy Price, CEO and co-founder of Kanarys. “Kanarys’ DEI data arms companies, for the first time, to make precise, immediate, and informed decisions using real, intersectional metrics around their diversity goals and inclusion programs that ultimately drive bottom-line business objectives. We are encouraged by the commitment of our investors and customers in our shared vision to help every person Work Where They Belong.”
The company is currently measuring DEI insights on nearly 1,000 U.S. companies through verified employee reviews, company policies, and organizational data — making it the largest DEI data-driven platform of its kind in the U.S. Since launching the platform in 2019, the company has grown 2,000 percent in users on its platform, and its customers include Fortune 500 brands. In addition, the company has a job board section that enables job seekers to find employment.
https://hrtechfeed.com/dei-platform-kanarys-announces-3-million-seed-round/
GigSmart, a staffing company that connects businesses with gig workers through mobile apps has announced expanded functionality to allow businesses to post and advertise their part-time and full-time positions to a user base of nearly 300,000 active job seekers.
Launched in November of 2018, GigSmart’s Get Workers staffing platform has successfully connected a rapidly growing number of job seekers to temporary opportunities at businesses operating in all industries. As more organizations used Get Workers to convert their temporary hires to permanent employees, the need for adding support for permanent hires within the Get Workers platform became evident.
Now, in addition to sourcing workers for hourly Shift Gigs, business users can post Full/Part-Time Positions on the GigSmart Job Board. GigSmart launched the Job Board to help businesses combat labor shortages and to aid workers on their paths to connect to local work opportunities. With the Job Board, GigSmart’s ability to connect job seekers with their next role and employers with qualified candidates to power their workforces will grow exponentially as the gig economy continues to grow.
https://hrtechfeed.com/gigsmart-adds-more-hiring-options-to-its-platform-for-gig-workers/
ARLINGTON, VA – CareerGig announced the acquisition of Moonlighting, a SaaS platform that empowers individuals to build their own freelancer profiles, and allows businesses to hire talented professionals quickly and affordably.
CareerGig is a SaaS technology platform that matches freelance and contract workers to top employers while offering a marketplace with independent access to guaranteed issue health, life, and disability insurance, education and training opportunities, and other financial services and benefits. Both companies utilize blockchain and artificial intelligence and this new agreement will create a combined platform with more robust and sophisticated capabilities.
The acquisition is effective today, and the companies will combine business operations within the next few months under the name CareerGig, forming one of the world’s largest freelancer platforms.
Founded in 2014 by Jeff Tennery, Ritesh Johar, and Roy Slater, Moonlighting brings a powerful network of over 850,000 freelancers and small businesses that will continue to build the CareerGig community. With extensive listings for contract gigs, part-time jobs, and internship positions, freelancers fulfilling those roles will have access to CareerGig’s benefits offerings.
Commenting on the merger, CEO Jeff. Tennery said, “CareerGig is the ideal partner for Moonlighting to take this next step in supporting freelancers around the world. Their team shares our same passion and vision to deliver the best marketplace platform for the gig economy.”
https://hrtechfeed.com/freelancer-platform-moonlighting-acquired-by-careergig/
Recruiter.com Group, Inc. (OTCQB: RCRT), a leading AI-powered hiring platform with the world’s largest recruiter network, unveiled a new on-demand virtual training program to help career changers break into the world of virtual recruiting.
“Recruiter.com has already helped thousands of people learn to recruit with its self-paced Recruiter Certification Program,” said Evan Sohn, CEO of Recruiter.com. “Given the strong trends towards the on-demand, gig economy and the unprecedented hiring that will be taking place after the pandemic, we launched Recruiter.com Academy to capitalize on this opportunity fully. Furthermore, as Experian cites that 50% of all millennials have a side gig, we look forward to positioning recruiting as an exciting and lucrative part-time opportunity.”
The Recruiter.com Academy is suitable for people changing careers and established recruiters looking to further their credentials. Participants will learn how to find jobs, earn, and outperform in the exciting career of professional recruiting. Graduates will receive one-on-one career assistance, including resume and social media profile support, live mock interview training, and may access paid recruiting assignments and earning opportunities through the Recruiter.com On Demand platform.
https://hrtechfeed.com/recruiter-com-launches-on-demand-recruiter-academy/
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