Scotland-based CandidateID announced a Seed round of USD $788.4K for its talent lead generation app. Basically a candidate lead nurturing and scoring app that sits in front of an enterprise’s existing CRM and/or ATS.
As the economy continues to slip deeper into recession, recruiting apps will see competition stiffen as an already competitive field with varying capabilities all vie for the same limited number of deals with companies in vertical market and segments that continue to prioritize outbound recruitment. In a down economy, employers find the direct inbound candidate flow and employee referral candidates, as well as the quality of them, increase. Apps that can add significant value to the core recruiting tech stack in the form of candidate discovery and moving them into and through the hiring and selection process will begin to gain leverage there.
CandidateID told The Herald that they are “on course” to see revenues of USD $1.63 Million in calendar 2020 and currently have 15 employees.