Sales recruiting marketplace Ideal Candidate raises its first $2.5M
The sales industry’s leading online recruitment marketplace, Ideal Candidate has raised $2.5M in its first round of outside capital. The funds will be used to continue development of the organization’s patent-pending hiring solution and expand its sales and marketing presence in key locations throughout North America.
Launched in February of 2014, Ideal Candidate boasts a registered talent pool of more than 25,000 active and passive sales candidates, along with hundreds of client companies. Ideal Candidate’s patent-pending solution significantly improves the success rate of new sales hires by matching potential candidates to the jobs best suited to their individual sales styles. Companies hiring through the site are able to reduce their time to hire by more than 30%, while also lowering recruiting costs and turnover. Because customers only receive salespeople that are matched using data points based on their existing top performers, they reap the benefits of salespeople who ramp up faster and more successfully hit their quotas.
“Hiring salespeople was the biggest obstacle at our last startup,” explains co-founder and CEO, Somen Mondal. “Relying on your ‘gut feel’ was ineffective and expensive. Before we even exited our last startup, we knew we wanted to optimize the recruiting process by creating a new way to make data-backed hiring decisions.”
“From proof of concept, to now scaling our sales team, we’re moving fast,” says co-founder and COO, Shaun Ricci. “To be honest, we were shocked at how quickly employers latched onto Ideal Candidate. The demand is exciting.”
“Everyone is looking to improve their time to hire and quality of sales candidates. It’s an easy sell when we show customers that we can do both.”
The company credits its large talent pool to the quality of employers using the platform, ease of sign-up, and word of mouth. “Our passive candidates were tired of being contacted about jobs they weren’t interested in. Active candidates were used to spending days or weeks sending out cover letters to dead-end job postings. Ideal Candidate eliminates both of these issues and focuses on objective measures of sales talent,” explains Ricci. “We’ve had candidates call us in disbelief that they were scheduled for interviews within days of signing up.”
Job seekers enter Ideal Candidate’s talent pool by completing a targeted assessment to determine both their unique selling style and company culture fit. Candidates are matched only with those companies in which they are similar to existing top performers. Armed with this data, employers use the system to effectively recruit “carbon copies” of their top performers, dramatically increasing the likelihood of a successful hire.
The $2.5 million in funding will be used to continue development of Ideal Candidate’s patent-pending hiring solution and expand the organization’s presence in Toronto, Boston, Chicago and San Francisco.
About Ideal Candidate:
Ideal Candidate is the leading job marketplace for sales professionals. The company’s job matching solution pairs salespeople with roles that best match their individual skill sets, desired salary and location. Using Ideal Candidate’s technology to automate the sourcing and prescreening of candidates, employers can effectively duplicate their top performing salespeople and enjoy an average 32% reduction in time-to-hire, while also lowering recruiting costs.
Ideal Candidate currently operates in North America with hubs in San Francisco, Boston, Chicago and Toronto.
For further information, call 647-693-7676 or 1-800-693-1076 or visit www.IdealCandidate.com.
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