Gooroo Ventures (ASX:GOO) has signed an enterprise agreement with IT professional services firm Readify to deliver greater intelligence and reliability into their current hiring practices.
Gooroo’s candidate assessment platform uses artificial intelligence and applied behavioural science to rate & rank candidates by predicting future performance & contribution in a role.
The platform is expected to assist Readify, owned by Telstra Corporation (ASX:TLS), in assessing over 2,500 candidates each year and to hire 100 professionals this year alone.
Gooroo Hirer’s ability to predict each candidate’s likely performance in a role will be of significant value in Readify’s ability to build scale into its operations and reduce the risk of a bad hire.
The company is now in discussions with numerous other enterprise customers and is expected to announce further contracts shortly.
The first version of Gooroo Hirer went live in January 2017 after over three years in research and development.
Gooroo’s launch strategy focused on small-to-medium recruiters and employers, located predominantly in the U.S.
During the March quarter, the company matched over 8,500 candidates across 420 open roles.
Gooroo is initially targeting the US$100 billion global information technology recruitment sector which promotes over 25 million roles each year.
The company’s objective is to remove up to 90% of the time wasted in screening and shortlisting talent.
Gooroo had a cash balance of circa $2.9 million as at 31 March 2017.