Recruiter.com Group, Inc. (NASDAQ:RCRT) has announced a strategic partnership with Talent Inc, a leading career services company providing a job seeker platform, professional resume writing, and interview coaching
The on-demand recruiting platform said it already has a long-standing relationship with Talent and this is the first step in a new partnership that will help drive significant value to the company and its team.
“We expect this transaction to meaningfully reduce our development costs while maintaining our ability to leverage the candidate sourcing platform,” Recruiter.com CEO Evan Sohn said in a statement.
“In addition, our revenue-sharing agreement will help further monetize our career communities and give us preferred terms for the resale of Talent Inc's career services,” he added.
READ: Recruiter.com 3Q revenue climbs on success of recruiters on demand segment
Elements of the strategic partnership include:
- The sale of certain intellectual property of Recruiter.com's passive candidate sourcing software platform to Talent on undisclosed terms;
- A revenue-sharing agreement that gives Recruiter.com a revenue share for the promotion and reselling of career services;
- A planned ongoing services agreement granting continued access to the candidate sourcing platform to Recruiter.com for 18 months.
"By joining forces with Recruiter.com, we are helping to build our talent network by enabling outreach via sophisticated AI technology," Talent CEO Byron Matthews added. "We are excited to build a strategic relationship with Recruiter.com, developing new revenue opportunities and co-marketing our complimentary career and recruiting products and services."
Through the Talent brands, including TopResume, TopCV, TopInterview, and ResumeRabbit, Recruiter.com said candidates are given award-winning tools and services to help them improve their careers, including resume creation, review, interview preparation, and more.
"Recruiters are tasked with helping candidates improve their professional lives by aligning their skills with client demand," Sohn continued. "Our growing network of on-demand recruiters will benefit from our partnership, and we look forward to building upon the relationship between Talent Inc and Recruiter.com."
Contact the author at stephen.gunnion@proactiveinvestors.com