Disruptive online recruitment startup RecruitLoop has set its sights on US expansion, establishing an office in San Francisco’s famous tech-hub alongside tech giants Twitter and Yammer.
After a successful 18-month growth period from launch, CEO Michael Overell said RecruitLoop was now keen to explore market and investment opportunities in the US.
“The Australian market is still very important to us. It’s also a great place to source talent and there are obvious advantages that come with having a head office in Sydney,” Overell said.
“But to really supercharge our growth, we realised it was time to take advantage of various opportunities provided by the US market. That’s why we’ve decided to plant a foot on both sides of the Pacific.”
Overell further reveals that it’s been quite a whirlwind few months for Overell since leaving Australia.
“My wife and I packed up our possessions last month, and made the move to San Francisco. It’s been non-stop since we arrived, but incredibly exciting.”
“We’ve since moved into an office wedged between Twitter and Yammer, Yammer was recently bought by Microsoft for one billion dollars. It’s a reminder that we are playing in a very big pond, with some very big fish, but we’re extremely confident in our business model and team, and genuinely excited about what the next six months will bring,” said Overell.
At the core of RecruitLoop is an online marketplace of experienced recruiters and a fully transparent pay-for-use model. And on top of promoting greater transparency, RecruitLoop’s founders say the model saves employers an average of 80 percent on the commission fees traditionally charged by recruiters. Yes you read that right, 80 percent.
“Recruitment is a competitive space, but we bring something unique — a platform that enables employers to select from a range of independent recruiters, based on their industry experience and feedback from previous clients,” Overell said.
“We take the hassle out of recruiting, and provide confidence to employers that they are dealing with experienced professionals, and only paying for the work being done to secure them top-shelf talent.”
RecruitLoop has also developed a sophisticated video interview platform to provide employers an efficient, flexible way of seeking out the best talent at a fraction of the cost and time.
“Our video technology has been adopted and integrated into the hiring strategies of employers of all sizes, including Woolworths and Canon,” Overell said.
“It really speeds things up and significantly reduces the cost of facilitating the often lengthy interview process. It’s a win for employers and candidates alike, taking a great deal of pain out of sourcing and onboarding new talent.”
RecruitLoop now boasts a network of over 70 independent recruiters spread across Australia, New Zealand and Dubai, and the west coast of the US, and Overell says that number is rising fast.
“We are very selective about the recruiters we sign up to the platform. They must meet strict standards and be comfortable with the level of transparency built into the system. As we grow, interest in the RecruitLoop marketplace is also growing, and we’re now finding that we have to be even more selective with the recruiters we bring on board.
“It’s becoming a very competitive, but quality-driven marketplace, which is great news for employers, because it reduces recruitment costs even more.”