The Amsterdam-based startup Recruitz.io has raised its first investment of €2 Million to further develop its innovative technology based on Artificial Intelligence (AI) and accelerate its national and international growth.
The startup enables organizations to find and reach talent with creative recruitment campaigns. Up until recently, job openings were mainly promoted via LinkedIn or job boards, but Recruitz.io technology finds and seizes (passive) talent on channels they use every day, such as Google or Facebook. By deploying AI, the technology defines where, when and how to reach talents through digital advertising and brings the ‘perfect match’ closer than ever. Recruitz.io’s technology also analyzes and optimizes recruitment campaigns continuously, leading to more qualitative results at substantially lower costs.
“The technology offers great potential for the challenging recruitment sector because passively seeking talent is more required than ever in a labor market that is increasingly under pressure. Until now, high budgets are often needed to find and contact talented individuals using static recruitment campaigns, the so-called Post & Pray campaigns. Recruitz.io proves that this can be done differently and helps organizations to source their talent in an innovative and intelligent manner”, Recruitz.io’s press release states,” Lars Wetemans, CEO Recruitz.io, states.
AI and automation
“We are proud that we are one of the few Dutch companies to realize such an investment. Now we can help even more organizations to attract unattainable talent – nationally and internationally. Our focus for the coming year is to use AI and automation to even better respond to the challenges of the recruitment industry, and to lay a good foundation for the new way of recruiting.”
Slingshot, a Dutch investment firm of two successful entrepreneurs with stakes in scale-ups like Boldking, Tiqets.com, and PetPost.com, takes a minority stake in Recruitz.io for €2M. “We are very proud that we can invest in a company like Recruitz.io. The entrepreneurial spirit of the founders coupled with the great team that they have is crucial for us to make this investment. The revolutionary and disruptive product has led to some great projects and a well-stocked pipeline of national and international customers in recent months. Recruitz.io is about to have its international breakthrough and we hope that we can contribute to that,” an undisclosed source at Slingshot states.
Startup of the Year
Recruitz.io was founded in 2016 and grew organically to 22 employees within a year. The company expects to double the number of employees within a few months. Clients of Recruitz.io include Tesla, Randstad, Adecco, Booking.com, and Uber, and was chosen as Startup of the Year 2016 by Sprout earlier this year.