Stitched In: Announcing Our Investment into IsoTalent

Category
Investments & Portfolio Updates
Written by
The Sweater Team
Published on
August 16, 2022

We’re excited to announce our participation in IsoTalent's $5 million seed round, co-led by Ad Ventures and Crocker Ventures. This is the Cashmere Fund’s first investment in the future of work, and we’re looking forward to watching the IsoTalent team scale their innovative global hiring platform.

Building a better world of human capital

The industry of staffing and recruiting services is in need of change. Currently, it tends to favor hiring agencies who are too often motivated by large commissions and less focused on small- to medium-sized businesses and the candidates lost in the shuffle. And with the Great Resignation changing the narrative of candidate expectations, hiring managers can no longer keep up on their own, moving too slowly on quality candidates and “ghosting” others.

IsoTalent’s unique hourly-rate model levels the hiring playing field, saving companies up to 70% from traditional recruiting services by more efficiently connecting jobseekers, recruiters, and hiring managers. This recruiting model puts candidates in the driver’s seat where they will never be “ghosted,” and their global talent offering allows firms to source, hire, onboard, pay, and manage global talent all on a single platform.

Three key innovations to highlight:
  • Commission-free recruiting. Their cost-effective, hourly-rate model saves clients thousands of dollars by enabling them to amplify their own internal hiring manager with teams of on-demand IsoTalent recruiters.
  • Global employer of record (EOR). With IsoGlobal, clients can recruit candidates anywhere in the world, then quickly and easily employ them through IsoTalent’s EOR. 
  • Free applicant tracking system (ATS). The free ATS, IsoConnect, lives at the center of IsoTalent’s platform, giving businesses flexibility to quickly scale their recruiting efforts and adapt to evolving hiring needs. It powers the entire hiring process, from managing account activities to streamlining communication with recruiters.

What we love about IsoTalent

In just three years, IsoTalent has had impressive traction, tripling revenue each year. They’ve currently served over 200 companies to date and are on track to add 100+ new customers in 2022. But this traction isn’t their only notable attribute as an exciting early-stage investment.

A team of experienced founders

IsoTalent’s founding team has both the domain and startup expertise to succeed. Co-founder and CEO Paul Ahlstrom brings decades of experience investing and supporting startups as a Venture Capitalist. He understands how best to leverage Sweater’s investment to maximize growth and avoid pitfalls. Co-founders Rob Lifferth (COO) and Austin Miller (CRO) bring four decades of experience in human resources, recruiting, and talent management to the table. Having worked in both early- and growth-stage companies, they know how to build foundational processes that can scale.

A powerful candidate flywheel

During a typical hiring process, there are on average 28 qualified candidates in a recruiter’s pipeline by the time they fill the role. IsoTalent’s platform captures the remaining 27 applicants and matches them with the next set of open positions in the IsoTalent ecosystem. As this data flywheel grows, the hiring managers get better candidates faster, and the candidates find the perfect role for them without being lost in the process.

The future of work & a global on-demand hiring marketplace

The hiring landscape is in the middle of a major shift as the future of how people work is quickly evolving. IsoTalent’s global on-demand hiring marketplace is well-positioned to help businesses bridge this transition without slowing down.

If you're a hiring manager or business leader looking for a modern, fully-integrated hiring solution that can scale with your business, check out IsoTalent’s platform.

And if you’re interested in learning more about how you can invest in IsoTalent and other early-stage companies poised to shape the future of how we live, download the Sweater app.

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Disclosure: Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. The prospectus contains this and other information about the Fund and can be obtained by calling 1-888-577-7987 or by visiting the Fund’s website at www.sweaterventures.com/cashmerefund. Please read the prospectus carefully before investing. All investments involve risks, and past performance is no guarantee of future results.