The Sydney Angels just funded an AI-enabled recruitment platform startup

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  • A firm intent on disrupting the world of recruitment with an AI-augmented platform has secured $310,000 in funding led by Sydney Angels and its Sidecar Fund2.
  • Sourcr, which launched in beta mid-2017 and released its first product earlier this year, is an online platform that connects businesses with pre-vetted, high-end specialist recruiters.
  • The $310,000 seed round will be used to add technology, sales and marketing talent.

Sydney Angels, a leading investor group owned and run by its 100 plus members, and its Sidecar Fund2 has just put money into recruitment platform Sourcr.

The startup is an AI-enabled online platform that connects businesses with pre-vetted, high-end specialist recruiters with a track record in specific industries and roles.

The platform uses an advanced algorithm based around performance metrics, reviews and testimonials to promote engagements that best fit recruiters’ needs.

The $310,000 seed round will be used to add technology, sales and marketing talent to the team, accelerate growth, and continue product development, with plans to spread nationwide over the next 18 months and develop a machine learning capability within the algorithm.

Daniel Tillett, the lead Sydney Angels investor on the deal, says Sourcr’s team is tackling an enormous problem.

“All businesses try to keep costs down but still need high quality staff, which can lead to recruiters over-promising but under-delivering — in the end everyone is unhappy,” says Tillett.

“By using technology to solve these longstanding problems, while still retaining the important human touch, Sourcr helps businesses fill niche or challenging roles by matching them with the person best suited to fill the role.”

Chris Almond, CoFounder of Sourcr, says typically, it can take up to 68 days to find, interview and hire the right talent.

“When you’re looking to replace mission- critical roles or high performing team members though — 68 days just won’t cut it,” he says.

Sourcr says it helps companies hire faster, with an average of 24 days from listing to hire.

Sourcr launched in beta mid-2017 and released its first product earlier this year, which is free to use on a success-fee basis. It has already attracted 40 active employers and 250 recruitment companies to its books.

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