Recruiter.com Group, Inc. (OTCQB: RCRT) ("Recruiter.com"), a leading online hiring platform using A.I. and machine learning to connect its network of over 26,000 small and independent recruiters with employers, has announced that they have entered engagements with three new clients in the fast-growing mortgage and digital lending industry. Recruiter.com believes that these new clients could potentially generate more than $13 million of revenue over the next eighteen months.
"We are pleased to project multi-million-dollar revenue opportunities with our initial set of mortgage clients," said Evan Sohn, CEO of Recruiter.com. "We believe our approach to recruiting talent faster with technology has proven highly effective within the mortgage space. We look forward to scaling this program with additional clients and securing leadership in mortgage talent solutions."
Presenting live on CNBC in May, Recruiter.com predicted growth in the financial services and mortgage industry. Recruiter.com used this insight to proactively sign agreements with three mortgage providers, including a venture-backed Silicon Valley digitally enabled broker, to leverage its A.I. candidate matching technology along with its Job Market platform to find qualified mortgage brokers.
"Within months of signing our first mortgage client, we've been able to find, engage, screen, and place exceptional mortgage-related talent, resulting in $200,000 of revenue," said Miles Jennings, Founder, and COO of Recruiter.com. "Through the success of the Job Market platform, we were able to increase the number of qualified candidates that were placed at our initial client, allowing us to sign additional clients."
The mortgage industry has experienced significant tailwinds; the Wall Street Journal reported on July 20, 2020, that the "30-Year Mortgage Rate Reaches Lowest Level Ever: 2.98%". Low mortgage rates fuel refinancing transactions, leading to personnel demands at mortgage companies. Digitally enabled mortgage company growth may be particularly robust. According to Reportlinker.com in its Digital Lending Platform Market Report, the digital lending platform market size is expected to reach $11.6 billion by 2025, a growth rate of 20.3%.
For more information on recruiting in the mortgage industry, email mortgage@recruiter.com.
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Recruiter.com Group, Inc.
Recruiter.com is a hiring platform that connects employers with small and independent recruiters. Recruiter.com empowers businesses to recruit specialized talent faster with virtual teams of recruiters and A.I. job-matching technology. Visit https://www.recruiter.com.
For investor information, visit https://www.recruiter.com/investors.html.
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Company Contact:
Recruiter.com Group, Inc.
Phone: (855) 931-1500
Investor Relations:
Dave Gentry
RedChip Companies, Inc.
Phone: (407) 491-4498
dave@redchip.com
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, including the anticipated results of mortgage-related clients, state of the mortgage industry, clients' hiring demand, and the ability to deliver mortgage-related talent. The words "forecasts" "believe," "may," "estimate," "continue," "anticipate," "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 commercial 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, 2019. 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 publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.
