Recruiter.com Group, Inc. (RCRT) has acquired Scouted.io, a venture capital-backed startup that uses video screening algorithms and Artificial Intelligence (AI) to discover inherent potentials. The acquisition of Scouted by Recruiter.com was completed on 1/31/21 through an asset purchase agreement. The cost of this acquisition was primarily covered by restricted common stock.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Recruiter.com CEO Evan Sohn says Scouted has an advantage over other talent platforms due to its ability to document candidates using video. The company is thrilled to add Scouted’s outstanding video candidate experience to their recruiting process. This makes large and small companies connect to Scouted’s vast talent pool of high-potential people at all levels of the career spectrum.
Recruiter.com welcomes Scouted’s CEO and Co-founder, Jacqueline Loeb, as Senior Vice President. She was a Bridgewater Associates alum.
With the acquisition, Recruiter.com furthered its goal of becoming the go-to recruitment website.
Last month, Recruiter.com launched its video platform that implements the hiring model as if it is an online dating website, where prospective employees can get to know each other better than they grow up on print media. This work is saving hiring managers endless hours of telephone and resume review.
Recruiter.com’s growth plan relies in part on Scouted.io and its innovative algorithm. As a result of this acquisition, a roster of clients that includes some of the world’s most prestigious hedge funds, venture capital firms, and technology giants, will enable lucrative revenue opportunities. In addition, Scouted pairs a powerful data set of proprietary metrics and analytics with an engaged user base of early- to mid-career professionals.
Thousands of professionals are found in Scouted’s specialized database, many of whom are first-generation college graduates and are BIPOC (Black, Indigenous, and People of Color). The virtual interview platform Scouted offers these professionals a unique opportunity to submit their full resumes to potential employers.
Recruiter.com’s page traffic is currently made up primarily of high-achieving candidates seeking great job opportunities. This may be a potential revenue source that remains largely untapped.
Top talent receives a seamless candidate-onboarding process through Scouted, which’s data-driven, and that leads to high user engagement, leading to high retention.
Besides the financial benefits of reducing the time from sourcing to hiring, Scouted’s video platform makes it easier for recruiters and hiring managers to look for more diverse talent. In addition, it dramatically expands the types of candidate profiles an employer can see and review, dissolving barriers between previously underrepresented groups of candidates and top employers.
