Recruiter.com increases its focus on software through an agreement with a major technical staffing provider
NEW YORK, NY / ACCESSWIRE / December 15, 2021 / Recruiter.com Group, Inc. (NASDAQ:RCRT)(NASDAQ:RCRTW) ("Recruiter.com"), a recruiting solutions platform, is pleased to announce a memo of understanding with Raise Recruiting (“Raise”), a division of the Ian Martin Group, which is a leading $300M/year engineering, IT, and technical recruitment firm.
"As Recruiter.com shifts its focus toward software and on-demand recruiting services, we are pleased to find such a high-quality partner as Raise to accelerate our transition," said Evan Sohn, CEO of Recruiter.com. "Our staffing-related clients will receive exceptional support from a world-class staffing partner, while Recruiter.com continues solving hiring challenges for employers with our technology-led solutions. We are also excited to help Raise scale their US-based recruiting solutions with our advanced AI software, and that our partnership will increase our overall monthly software revenue by about 10%."
Under the terms of the agreement, Recruiter.com and Raise will work together on a joint partnership that will involve the transfer of certain assets, clients, and services for mutual benefit. Recruiter.com will assign certain staffing-related clients to Raise and assist them in creating a seamless transition and building an overall net positive for the end clients. Raise, will, in turn, subscribe to Recruiter.com's AI recruiting software and on-demand recruiters.
Tim Masson, CEO of the Ian Martin Group, said about the planned transaction, "Our partnership with Recruiter.com will help Raise continue our incredible growth story, which began in 1957. As part of the Ian Martin Group, which is a Certified B Corporation, Raise embraces the future as stewards - of the careers of our candidates, the projects of our clients, the communities that surround us, and the environment we inhabit. We are excited to leverage Recruiter.com's software solutions, expand our team with flexible recruiters, and service and grow relationships with many national brand clients.”
After the execution of sales contracts and other related agreements, the parties expect the transaction to close on December 31, 2021.
About Recruiter.com Group, Inc.
Recruiter.com is a recruiting solutions platform that rapidly delivers the right talent to both small and large businesses. With recruiting software and a network of on-demand recruiters, Recruiter.com delivers on-tap talent solutions that flex with hiring needs. To learn more, visit https://www.recruiter.com.
For investor information, visit https://investors.recruiter.com
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Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast" "believe," "may," "estimate," "continue," "anticipates," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include continued demand for professional hiring, the accuracy of the Recruiter Index® survey, the impact of the COVID-19 pandemic on the job market and the economy as virus levels are again rising in many states, and the Risk Factors contained within our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2020. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward-looking statements publicly, whether as a result of new information, future developments, or otherwise, except as may be required by law.
SOURCE: Recruiter.com Group, Inc.