Recruiter.com Group Inc (OTCQB:RCRT) said it has finalized its common stock acquisition of OneWire, a Software-as-a-Service (SaaS) based recruiting and sourcing platform that hosts one of the largest communities in the financial services industry.
The acquisition includes OneWire’s SaaS platform as well as the candidate-matching service Matchbook. OneWire's platform provides financial services professionals with a centralized place to manage their job search and accelerates the sourcing process by pre-vetting top candidates in advance, ensuring that employers only connect with the most qualified candidates for their unique roles.
"With more than 700,000 members, OneWire's candidate database is one of the largest talent pools in the financial sector," Recruiter.com CEO Evan Sohn said in a statement. "Through its SaaS platform, tailored executive search services, and pre-vetted candidate matches, OneWire helps investment banks, hedge funds, private equity, and venture capital firms get matched with top financial services professionals. Recruiter.com's AI sourcing and curation services, and on-demand recruiting services, combined with OneWire, will offer an unmatched array of services to the finance and banking sectors."
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OneWire's candidate database and candidate-matching service is expected to amplify Recruiter.com's reach and build upon prior acquisitions in order to give employers and recruiters access to a broader pool of specialized talent.
For example, in the first quarter, Recruiter.com acquired artificial intelligence sourcing software Upsider.ai, which uses adaptive machine learning to automate candidate sourcing, ranking and engagement across a database of millions of candidates. It also bought video-enabled talent-matching platform Scouted.io and launched a candidate curation subscription, which delivers weekly pools of candidates to employers. Adding OneWire’s platform will make each of those technologies more robust, the company said.
"Financial services talent is always in high demand, and for that reason, they can be some of the hardest professionals to identify and properly engage," Sohn said. "OneWire's candidate database and candidate-matching services will give Recruiter.com's clients better access to this pool of uniquely skilled candidates, allowing them to source, vet, and hire financial professionals before their competitors can."
Following the acquisition, OneWire and Recruiter.com will integrate their assets to create a unified, subscription-based hiring solution allowing employers to source financial services candidates on their own or tap Recruiter.com's network of on-demand recruiting professionals for hiring help, the company said
"From day one, we set out to build an application that confidentially connects candidates with job opportunities in the financial services sector while providing employers a self-service platform to source, search and hire the top talent across the industry," OneWire CEO Eric Stutzke commented.
"Along the way, we innovated by building new technology that has allowed us to differentiate our offerings, attract new customers and increase overall engagement. Under Recruiter.com, candidates will enjoy broader access to additional content and career opportunities, while employers can leverage the Recruiter.com portfolio of products and services on a global scale."
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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