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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.
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.
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.
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.
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 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.
