The pandemic has resulted in many people losing their jobs and companies were not hiring any new candidates. Since the situation got a little better more and more companies have restarted their hiring processes. SmartRecruiters is one such platform that makes the process easier for companies. It has recently raised $110 million with a valuation of $1.5billion.
The recent round of funding is supported by Silver Lake Waterman along with Insight Partners and Mayfield Fund. SmartRecruiters have expressed their interest in splitting the fund into two- one for expanding their business and the other to hire and expand their platform. Their customers include big firms like Visa, Square, McDonald’s, Ubisoft, Equinox, and many others. The plan is to use their platform to make the process of recruitment more accurate and easier.
SmartRecruiters CEO, Jerome Ternynck describes the firm as “the salesforce of recruiting”. By this, he means that the platform can do everything from candidate sourcing to hiring for large enterprises.
The digital transformation and the increased interest in remote work have changed the mentality of the candidates. They know exactly what they want to do. Companies too have come to the acknowledgment that if they do not hire the right candidates, the company will not grow. And if they do, the company will walk towards success.
Ternynck notes that even though the pandemic caused a decrease in the number of recruitments, their business had been growing during that time too.