Entelo, one of the leading companies in recruiting automation, acquired candidate engagement solutions provider ConveyIQ in a move to offer source-to-hire management of talent acquisition interactions.
In addition, Entelo said, the combined company’s powerful AI-driven targeting and candidate reengagement capabilities will allow employers to mine their existing candidate databases to rediscover talent that may match current open roles.
Entelo CEO Jon Bischke will remain in place. ConveyIQ CEO Danielle Weinblatt, will assume become president and chief product officer. ConveyIQ’s CTO Andrew Schafer will take on the same role at Entelo while Larry Murff moves from ConveyIQ’s COO-CFO role to the office of Entelo’s chief financial officer.
Industry analyst Joel Cheeseman called the move by Entelo ” a bold one, considering they’ve been on death watch for almost a year now.” Though he needs to “let this one digest for a bit,” he said, “it feels a little like two dinosaurs cuddling-up together hoping that’ll stave off the extinction.”.@Entelo says the @ConveyIQ acquisition will help recruiters become strategic business partners by providing TA teams with a single source-to-hire platform. Click To Tweet
The acquisition will create a system “that automates all of the arduous and manual tasks hiring teams have to process so recruiters can ultimately become strategic business partners,” said Weinblatt. Having a single platform will allow talent acquisition teams “to be more proactive, efficient and candidate-focused.”
In a blog post, Entelo quoted Bischke as saying this acquisition differs from most others in the the HR technology space because most have been about “someone’s technology bolted on to someone else’s technology.” In contrast, The Entelo-ConveyIQ solution “will be the first in the industry to offer end-to-end management of all candidate interactions from source-to-hire. Up until now, companies have had solutions for candidate sourcing, engagement and communication management at the top of the funnel and further down the funnel.”
Now, he said, companies will be able to leverage a single product suite to manage all of their interactions with candidates, “regardless of where they are in the recruiting process.”
In that same post, Weinblatt said ConveyIQ customers will see “greater investment across every part of the business.”
Combined, Entelo and ConveyIQ serve 600 customers including Target, Amazon, NBCUniversal, HubSpot, and Charles Schwab. Earlier this year, Entelo said enterprise customers accounted for more than 65 percent of its total revenue and that it’s deal size was increasing.
In announcing the acquisition, Entelo also said it’s raised new funding from current investors of both companies. Participating firms include Battery Ventures, Shasta Ventures, USVP, 3TS Capital Partners, SC Ventures and StarVest Partners.
Updated 2:00 p.m. ET to add comment by Joel Cheeseman.
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