Home Articles HR tech startup Sourcr raises $310k from Sydney Angels to raise the bar...

HR tech startup Sourcr raises $310k from Sydney Angels to raise the bar in recruitment

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Sourcr is an online platform that connects businesses with pre-vetted, high-end specialist recruiters with a proven track record in specific industries and roles.

The platform uses an advanced back-end matching algorithm based around performance metrics, reviews and testimonials to promote engagements that best fit recruiters’ needs in order to drive better results.

Sourcr’s platform leverages AI, data and extensive networks to help companies hire right, hire fast and hire confidently and crucially, retains the human relationship element.

What problem is Sourcr here to solve?

“Hiring staff can be a massive headache for business owners for so many different reasons,” said Chris Almond, Co-Founder of Sourcr.

“Typically, it can take up to 68 days to find, interview and hire the right talent. When you’re looking to replace mission- critical roles or high performing team members though – 68 days just won’t cut it.”

Sourcr helps companies:

  • Hire faster – with an average of 24 days from listing to hire
  • Hire right – by using AI to match prospective employees to industry expert recruiters that understand the role employers are hiring for
  • Hire confidently – using processes and systems to ensure employers make the right decisions

“By leveraging vast amounts of performance data, the Sourcr platform points business owners towards the best set of recruiter options for the particular industry and role they wish to recruit for, significantly improving hiring outcomes for time-poor business owners,” concluded Mr Almond.

What has Sourcr been up to lately?

Sourcr launched in beta mid-2017 and released its first product earlier this year, which is free to use on a success-fee basis. It has already attracted 40 active employers and 250 recruitment companies to its books.

The $310,000 seed round will be used to add technology, sales and marketing talent to the team, accelerate growth, and continue product development, with plans to spread nation-wide over the next 18 months and develop a machine-learning capability within the algorithm.

Lead Sydney Angels investor on the deal, Daniel Tillett, said Sourcr’s team was tackling “a truly enormous problem”. “All businesses try to keep costs down but still need high quality staff, which can lead to recruiters over-promising but under-delivering – in the end everyone is unhappy,” said Mr Tillett.

“By using technology to solve these longstanding problems, while still retaining the important human touch, Sourcr helps businesses fill niche or challenging roles by matching them with the person best suited to fill the role,” he concluded.

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