INSUBCONTINENT EXCLUSIVE:
Recruiting is one of the latest industries to get a data science makeover through companies like Hired and Triplebyte, but the former hopes
that.Hired looks to serve as a one-stop recruiting point for both companies and potential candidates
The startup collects information like a basic profile, some thoughts on what those candidates are looking for, and your resume information,
and then crunches that through a series of back-end algorithms and processes in order to figure out the best match for that candidate
It then points those candidates to hiring managers at companies that are looking for a strong pipeline of candidates, though the company now
hopes that they will be able to build a kind of recurring revenue model for those companies with its subscription business
hopes to use to get a robust set of candidates onto the platform
By doing that, it can continue to not only have a steady stream of candidates, but also collect more and more information on what candidates
For example, a school might not be the best indicator of future success, while the number of followers on a Github account could be a better
barometer for the performance of the candidate
protocol.Through that, Hired tries to compress the amount of time it takes for a company to say it needs a candidate and then that candidate
keep that steady stream of candidates coming
Patel said the company has been able to squish that threshold down to around 25 days, which was one data point they could flag investors on
in order to convince them that the model was working
(The company, which did not disclose its bookings, also said its bookings grew 300% year-over-year, which is a big number but without a
That combination of helping companies hire predictably, or using high quality talent and doing that with great insight, is [where we think
If the startup is able to convince companies that it is a viable pipeline that they should be paying a recurring fee, it might be able to
absorb the shock of a recession and a slowdown in hiring and prove useful in cases like incremental hiring and back-filling old roles
billion), that would likely provide the largest hurdle to cover
Patel said Hired should be able to close the time gap between finding the candidate and the hiring process, which would be the primary
metric of success for the company, faster than other companies.
