On the same day it closed a $26 million funding round, Hiretual announced it’s rebranding itself as hireEZ, which it believes better reflects its mission. The investment brings the recruiting technology platform’s total funds raised to $45.5 million.
“In these unprecedented times, recruiting has become an impossible task,” said CEO Steven Jiang. “Recruiters and hiring managers can no longer sit back and wait for people to apply. They have to shift to outbound recruiting in order to scale their companies effectively.”As it closed a $26 million funding round, recruiting technology platform Hiretual announced it’s rebranding itself as hireEZ, which it believes better reflects its mission. @hire_EZ #HR #HRTech Click To Tweet
hireEZ is an AI-powered outbound recruitment platform, designed to help recruiters overcome the inherent challenges of traditional inbound recruiting solutions. Those challenges, the company believes, have increased pressure on recruiters at a time when they certainly don’t need it.
hireEZ says it streamlines and speeds up the recruitment process by syncing candidate data across multiple systems, such as the web and CRM platforms, and automating candidate communications. The company now hosts more than 750 million candidate profiles from some 45 open web platforms. It’s used by more than 5,000 leading companies worldwide, it said. The platform also facilitates collaboration among talent acquisition teams
“[E]nterprise organizations are typically using dozens of systems, which makes implementing new tools taxing, slow and can create inefficiencies and blind spots within data and processes,” Jiang told VentureBeat. “In short, job candidates today have a lot of options, and companies are struggling to get jobs in front of people fast enough.”
The funding round was led by Conductive Ventures, a VC firm that focuses on “expansion stage” technology businesses. According to Managing Director Carey Lai, the venture firm was attracted by hireEZ’s “strong growth trajectory and capital efficiency.” The company increased annual recurring revenue by 2.5x during 2021, he said.
With the funding, hireEZ plans to make new investments in product development, expand operations and grow its team globally.
Last year, the company formed a global partnership with PageUp unit Clinch. The relationship allows customers to use then-Hiretual’s hiring solution to match candidates and roles and scale their talent acquisition organizations with intelligent sourcing, engagement, integrations and analysis.
Earlier in 2021, the company introduced candidate sourcing and expanded email engagement functions to its plans for SMBs. It also reduced monthly and annual fees for the plans in an effort to make AI recruitment technology more affordable as the economy began recovering from the Covid-19 pandemic.