Recruiter.com Group Inc (OTCQB:RCRT) said it acquired Upsider.ai, an artificial intelligence (AI) sourcing software that automates candidate identification and engagement to help employers make the best hires, with effect from March 26.
Recruiter.com said the Upsider.ai acquisition is a critical component of its growth plan, as it adds industry-leading technology to the company’s portfolio of Software-as-a-Service (SaaS) tools as well as expert sales and engineering talent to Recruiter.com's team.
“Upsider.ai's AI-based scoring engine analyzes millions of data sources to identify qualified candidates faster, cutting through the inefficiencies of the often unpredictable and traditionally expensive recruiting process,” Recruiter.com CEO Evan Sohn said in a statement.
READ: Recruiter.com Group is building one of the world's largest hiring platforms
Sohn added: “Innovative, high-growth technology clients such as Bombora, Litify, MovableInk, and Vestwell have recognized the value of Upsider.ai, and we are excited to bring this leading-edge technology to a broader market.”
The company also noted that Upsider.ai co-founder and CEO Josh McBride will join Recruiter.com as a senior vice president, while Upsider.ai chief technology officer Xuan Smith will also stay on as a Recruiter.com vice president.
McBride commented: “We've seen the impact data and analytics can have on business performance, and we also recognize the big gap that exists between high-tech recruiting solutions and what recruiters and hiring managers need to do their jobs well and that's where Upsider.ai can be impactful.”
“We embed machine learning intelligence throughout each step of the sourcing process, and that gives us a huge advantage over the other options in the market.”
Recruiter.com said the acquisition of Upsider.ai allows it to continue on its trajectory toward becoming a top-of-mind hiring solution, providing both the tools that enable expert hiring and a network of on-demand recruiters to assist businesses in their talent acquisition efforts.
During the past quarter, the company has successfully launched a candidate curation platform that delivers diverse pipelines of high-quality talent to companies weekly, streamlining sourcing processes to ensure a shorter interview-to-hire timeline.
In 4Q 2020, Recruiter.com launched a video platform that replaces countless hours of traditional resume reviews and phone screens with short candidate videos, which help users quickly qualify candidates before delving into the nuances of their backgrounds and credentials.
Recruiter.com has a diverse network of more than 27,000 recruiters that help organizations reduce recruiting costs and shorten recruiting cycles with access to on-demand recruiting and AI and video technology.
Contact Sean at sean@proactiveinvestors.com