Recruiter.com Group, Inc. (Nasdaq:RCRT, RCRTW) is an online hiring platform delivering on-demand recruiting technology and services to both large and small businesses. With AI and video technology, and the world's largest network of recruiters, Recruiter.com delivers on-tap recruiting that flexes with hiring needs.
Recruiter.com Featured on CNBC
Ready, Set, Hire
- Proprietary Technology – Recruiter.com acquired three technology companies just this year: Scouted, Upsider, and Uncubed, which each brought proprietary technology to the existing Recruiter.com technology portfolio. Owned tech includes artificial intelligence-based candidate sourcing tools and job board creation software technology.
- In Demand – Recruiter.com's on-demand recruiting solution grew 88% quarter-over-quarter, showing clear market demand. Management expects strong growth throughout the second half of 2021 and beyond, as we advance our mission of revolutionizing recruiting and talent acquisition into a rapid, on-demand service.
- Growing Markets – Technavio's latest market research report estimates the online recruitment market to grow by $2.99 billion during 2021-2025, a CAGR of almost 7%. The total USA recruiting and staffing market is valued at approximately $120 billion, according to Statista.
- Proven Leadership – Recruiter.com is in very capable hands. Evan Sohn, Chairman and CEO, has a history in high growth technology startups that have led to acquisitions, including Logix, Inc. (mobile computing) by IMS Health in 1999, Omnipod (instant messaging) by MessageLabs in 2006, MessageLabs (security) by Symantec in 2010, Global Bay (mobile) by Verifone in 2013 and Poynt (payments) by GoDaddy in 2020. Evan is the Co-founder and Vice President of the Sohn Conference Foundation, a not-for-profit dedicated to treating pediatric cancer and related childhood diseases, and has raised over $90 Million through a global hedge fund conference series.
Key Highlights: Q2 2021
- Recruiter.com Group, Inc. common stock (RCRT) and warrants (RCRTW) began trading on Nasdaq on June 30, 2021.
- Acquired OneWire, a leading SaaS-based financial services recruiting and sourcing platform
- Formed a partnership with WeWork, the global flexible workspace provider, to bring on-demand hiring services to the WeWork startup ecosystem
- Discussed the job market and the results of Recruiter Index®, Recruiter.com's proprietary survey of recruiter sentiment, on CNBC, Yahoo Finance, and leading industry podcasts and publications.
Key Highlights: Since Q2 2021
- Closed an upsized underwritten public offering of 2.4M units, each including one share of common stock and one warrant, at a price to the public of $5.00 per unit, for gross proceeds of $12M before deducting underwriting discounts and other expenses.
- Acquired the technology division of Uncubed and Finalist, which brings to Recruiter.com proprietary job board creation technology and MediaBistro, a leading professional community for media, content, and creative professionals.
- Closed the sale of an additional 360,000 shares of common stock, pursuant to the exercise of the underwriter's over-allotment option, with gross proceeds of approximately $1.8M, before deducting underwriting discounts and other expenses.
- Appointed Xuan Smith as Chief Technology Officer and Ashley Saddul to the position of Chief Web Officer
Addressing Current Challenges
"With advanced Artificial Intelligence ("AI") technology, recruitment marketing software, and a network of now over 30,000 recruiters, Recruiter.com is at the forefront of a revolution in recruiting," said Miles Jennings, President and COO of Recruiter.com. "By delivering effective results for both high-growth startups and Fortune 100 clients inside a tight job market with high demand for specialized talent, Recruiter.com is positioned for exceptional growth."
Jennings continued, "One of the biggest challenges facing the re-opening of the economy is the shifting dynamics of the job market; an incredibly tight job market in highly skilled labor, a shift from in-person to remote work opening up the ‘work from anywhere' theme, the lack of lower hourly workers seeking to re-enter the job market, and the increasing voluntary employment churn resulting in the potential for a ‘great resignation' of employees. These challenges are being addressed head on through the Recruiter.com On Demand recruiting service, which we believe re-invents the recruiting industry, empowering companies large and small to extend their in-house hiring team with experienced freelance recruiters along with AI-driven candidate search and engagement tools. As our Recruiter On Demand solution saw a 88% quarter over quarter increase and with our new software subscriptions delivering over $175,000 in recurring revenue, we are confident in our ability to rapidly scale our business and continue to recruit talent faster."
Recent Press Releases
- Recruiter.com Announces Second Quarter 2021 Results
- Recruiter.com AI Platform Helps Leading Companies Identify Diverse Talent
- Recruiter.com's CEO to Again be Featured on CNBC and Yahoo Finance to Discuss Latest Jobs Report Numbers and Hiring Sentiment
- Recruiter.com Interview to Air on Bloomberg U.S. on the RedChip Money Report(R)
- Recruiter.com Surpasses 30,000 Recruiters in Its On-Demand Network
- Deborah Leff: Deborah was appointed to the Board on August 31, 2020. Deborah has served as a Global Leader at IBM since October 2012 and most recently held the position of Global Industry CTO for Data Science and AI. Deborah was selected for appointment to the Board for her experience with successfully implementing artificial intelligence and machine learning projects to drive strategic outcomes. Deborah has worked with senior leaders of Fortune 1000 companies to gain critical insights from data to drive customer experience and optimize business operations. In addition, Deborah has built and run global sales teams and brings experience and expertise in sales management and sales execution. Deborah is also the Founder of Girls Who Solve, a STEM education program for high school girls that focuses on how data science and technology can solve a range of challenges in both for-profit and nonprofit organizations.
- Steve Pemberton: Steve joined Workhuman in December of 2017 as Chief Human Resources Officer (CHRO) and works with HR leaders and senior management executives worldwide to help build inspiring workplaces where every employee feels recognized, respected, and appreciated for who they are and what they do. In 2015, he was appointed by United States Secretary of Labor Thomas Perez to serve on the Advisory Committee for the Competitive Integrated Employment of People With Disabilities. A passionate human rights champion, Steve has made equality, access, and opportunity the foundation of his personal and professional life. In the USA Today best-selling memoir A Chance in the World, Steve chronicles his childhood journey as a bi-racial ward of the state and his decades-long quest to find his biological family. His next book, The Lighthouse Effect, will be published in the fall of 2021. His tireless advocacy for the disenfranchised has earned him numerous accolades, including honorary doctorates from Boston College, Providence College, and Winston-Salem State University, as well as the prestigious Horizon Award from the U.S. Congress, presented to private sector individuals who have expanded opportunities for all Americans through their own personal contributions. He earned his undergraduate and graduate degrees at Boston College and serves on several nonprofit boards, including UCAN and Disability:IN, in addition to his own A Chance in the World Foundation, the non-profit he founded to help young people aging out of the foster care system.
- Evan Sohn: Evan has served as our Chief Executive Officer since July 1, 2020, and our Chairman since April 2019. Evan has a history in high growth technology startups that have led to acquisitions, including Logix, Inc. (mobile computing) by IMS Health in 1999, Omnipod (instant messaging) by MessageLabs in 2006, MessageLabs (security) by Symantec in 2010, Global Bay (mobile) by Verifone in 2013 and Poynt (payments) by GoDaddy in 2020. Evan is the Co-founder and Vice President of the Sohn Conference Foundation, a not-for-profit dedicated to treating pediatric cancer and related childhood diseases, and has raised over $90 Million through a global hedge fund conference series. Evan holds seven patents in telecommunications, mobile education, medical instrumentation, and medical data capture. He is a graduate of the NYU Stern School of Business with a degree in Computer Information Systems and Management and is a regular contributor to CNBC.
- Miles Jennings: Miles has served as our President and Chief Operating Officer since July 1, 2020. Prior to that, he served as Chief Executive Officer of the Company and Chief Executive Officer of publicly-traded Truli Technologies, Inc., and its hiring platform development subsidiary, VocaWorks, Inc., before its merger with Recruiter.com. Earlier, Miles pioneered socially enabled websites and tools for the recruitment industry and created many of the industry's first and most significant social media groups, which totaled over 3 million members. He is a current Entrepreneur Leadership Network Contributor to Entrepreneur.com and has published thought leadership on hiring, startup growth, education, and career development in publications such as Forbes, The Wall Street Journal, and Inc. He is a member of the Young Entrepreneur Council. Miles is the Founder and President of CT Capital Partners, LLC, a management advisory firm, and its Start in School venture, which helps accelerate the ideas and work of promising young entrepreneurs. Earlier in his career, Miles worked in management and sales roles at Modis, an Adecco division, and Indeed.com. He is a graduate of Trinity College in Hartford, CT, with a degree in philosophy.
- Wallace Ruiz: Wallace was appointed to the Board on May 24, 2018. Wallace has served as the Chief Financial Officer of Inuvo, Inc. (NYSE: INUV), an advertising technology company based in Little Rock, AR, since June 2010. Wallace was selected for appointment to the Board for his experience with public companies and his accounting skills. Wallace is a Certified Public Accountant in the State of New York. He is a graduate of St. John’s University with a degree in computer science and Columbia University with an MBA in finance and accounting.
- Douglas Roth: Douglas has served on the Board since February 2018. Douglas has been a Director and Investment Manager at Connecticut Innovations, Inc., since 2011 and is responsible for sourcing new investment opportunities, serving on the boards of portfolio companies, and supporting their growth and success. Douglas was selected for appointment to the Board for his experience serving on the boards of technology companies and the skills he gained from previously advising companies regarding product development and launch. He is a graduate of Boston University with an undergraduate degree in economics and mathematics and a master’s degree in electrical engineering. He also has an MBA in entrepreneurial and strategic management from the Wharton School of the University of Pennsylvania.
- Tim O'Rourke: Tim has served on the Board since March 31, 2019, when Recruiter.com purchased certain assets from Genesys, a company owned by Icon. Tim has served as the Managing Director of Icon Information Consultants, LP (“Icon”), a human capital solutions provider of consulting, payroll, and professional services and a Genesys shareholder, since February 2001. Tim brings to the Board his experience and expertise in HR and recruitment solutions for employers. He is a graduate of the University of Houston with a degree in electrical engineering.
- Robert Heath: Robert (“Bob”) Heath is Executive Vice President at RPX Corporation. He joined RPX in 2011 and served as the company’s Chief Financial Officer from 2015 to May 2017. During his tenure at RPX, Bob has been the principal architect of some of the industry’s most significant syndicated licensing transactions, with an aggregate deal value in excess of $1.4 billion. Before coming to RPX, he served as Head of Strategy and Acquisitions for Technicolor, a leading supplier of technology and services to media companies, where he oversaw an acquisition and divestiture program that refocused the company from consumer electronics to services and technology licensing. Prior to Technicolor, Bob served as Chief Operating Officer and Chief Financial Officer at iBahn, an Internet service provider to the hospitality industry. Bob has extensive experience as an investment banker focused on technology and growth companies at Kidder Peabody, SG Warburg, and Robertson Stephens. During his investment banking career, he worked in corporate finance and mergers and acquisitions, completing deals with more than $10 billion in transaction value. Bob received his MBA from the University of Chicago Booth School of Business and his AB from Harvard University.
For general informational purposes only. This announcement shall not constitute an offer to sell securities.
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 "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 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 publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.