The global job search platform announced on Wednesday that it has raised a $120 million Series B investment round led by Inovia Capital, with the participation of previous investor Caisse de dépôt et placement du Québec (CDPQ), in addition to new investors Investissement Québec, Climb Ventures, BDC Capital, Fondaction and HarborVest Partners. Talent.com also raised $30 million in debt with Technology & Innovation Banking Group at BMO Financial Group.
The company is 11 years old and was recently rebranded when it purchased the Talent.com domain to be a platform that connects candidates with companies, such as a job marketplace.
Talent.com indexes content from recruiting consultants on company careers pages. Candidates can also search for jobs on sites aggregated to the Talent.com platform.
Based in Montreal, Canada, the company began expanding with offices in Latin America in 2020, with the arrival of VP for Latin America, Sebastian Dominguez. Talent.com has an office in Medellín and another in São Paulo, with over 200 employees. In April, the company hired a country manager in Colombia and Mexico and, according to Dominguez, the idea is to have a stronger presence in Brazil, Colombia, Chile, and Argentina.
“Our platform is centered on the candidate experience,” explains Dominguez. These are the companies that pay Talent.com, with clients from large to small and medium-sized companies. Recruitment consultancies also use Talent.com because they need candidates from recruiting agencies, according to the VP.
The Gupy recruitment system uses the vacancies that are available on the Talent.com platform, for example, as well as other platforms such as Greenhouse and other ATS (applicant tracking systems) on the market, such as Abler, Sólides, BreezyHR, and SmartRecruiters.
The startup has employees around the world, with a presence in 78 countries, including India, Singapore, the United States, England, and Malaysia. In all, there are 400 people.
With the new round, the company intends to scale the business by hiring, developing new products, and strengthening the brand. From 2020 to 2021, Talent.com said it grew Latin America revenue by over 200%, with Brazil accounting for 253% of the growth. In terms of users and traffic, the country grew by 41%, so Dominguez said the round will also be used for traffic acquisition. In Mexico, revenue grew by 60% and user traffic by 14%.
“The country that stood out the most in the region was Argentina, with more than 800% growth in revenue,” he said.
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