As the economy improves and interest in social media continues to surge, social recruiting is receiving the attention of many major investors. A new startup recruiting software company called “The Resumator” has received a major investment of $700,000.
The company cites the product as serving the needs of both applicant tracking and social distribution and job referrals. You can share jobs through social networks and power an entire corporate job site.
The new investment appears to come as a second round to an initial $100,000 investment made in late 2010. Social recruiting has attracted a lot of capital over the past few years, and it appears that the interest is only just beginning.
Applicant tracking systems and job distribution systems used to be separate, but many recruitment technology companies are now providing integrated solutions. The major players in applicant tracking and job distribution are also developing custom solutions best fit to social job distribution (think Bullhorn’s Reach solution or Broadbean’s SocialSmashed.)
As Linkedin’s IPO draws near, the interest in connection and referral technologies is rising to a fever pitch. Recruitment and talent solutions are perhaps the most natural application of connectivity and social referral technology, so we can expect many more startups and innovation in the recruitment technology space.
Perhaps one of the more interesting features of The Resumator is the manner in which it addresses resume assessment. Applicant selection of course involves multiple teams of people. Oftentimes, the most difficult aspect of hiring is internal communication. The Resumator offers an interesting collaborative workflow for the resume review process.
The interest and investment generated around social recruiting technology is a good thing for both job seekers and recruiters. As hundreds of startups each try to address some of the fundamental pain points around job application, recruitment, and selection, some of them are bound to introduce new efficiencies into the mainstream.
Recruiting is perhaps the toughest nut to crack with technology, which is why the recruiting technology market is such an incredibly dynamic and complex industry.