The opportunity
An Irish global company, The Hire Lab was founded in 2013 with the vision to transform the recruitment experience for both the candidate and the hiring team. They wanted to bring the modern tech experience that we all currently enjoy - from hailing a taxi on an app & viewing it on a map to ordering a pizza & tracking the delivery driver and transforming the recruitment process, ensuring transparency & engagement for candidates as well as harnessing intelligent hiring tools to automate the process for hiring teams.
It is the only recruitment system in the market that puts the candidate at the heart of the journey. This allows their clients to offer an enhanced employer brand experience where they can mix their marketing and engagement strategies with their recruitment – vital for their target market of the public sector, where every candidate is often a client or customer. The Hire Lab is now powering hiring campaigns for some of the biggest public sector employers, such as the NHS, HSC, and Department of Social Protection across Ireland, the UK & Europe.
Financials
Full details are available upon signing NDA, however, the estimate turnover for the latest accounts show a turnover of just over 1.1M Euros with adjusted EBITDA of approx 780,000 Euros.
Services offered
Their cloud-based technology provides candidates with a personalised portal designed to handhold them through the hiring journey sharing marketing, employer branding and content to keep them engaged, informed and encourage self-servicing. At the same time, it allows recruiters to use intelligent matching and automated hiring tools such as language testing, video interviewing, assessments and profiling to streamline their hiring processes and ensure collaboration and compliance.
The Hire Lab's Onboarding module which seamlessly connects into the recruitment platform means clients can harness the power of the candidate portal and turn it into an engaging interactive onboarding experience designed to reduce the manual processing of their hiring, enhance the candidate experience and reduce new starter drop out significantly.
USP’S
• Streamlined, automated, engaging recruitment experience for candidates and recruiters/hiring managers
• Designed to encourage candidate self-service for both recruitment and onboarding to ensure recruitment & hiring efficiencies and compliance
• Data-rich process that is workflow-driven - produces insight and information about the process
• Allows organisations to implement change across their wider organisation via their recruitment & hiring process
• They offer a candidate-centric platform that is more responsive and engaging. It helps organisations inform, educate and maintain contact with candidates throughout the whole process. It is a true end-to-end system that helps improve requisition, application, shortlisting, and onboarding - managing the entire process in one system.
Reason for sale
The company requires funding for growth and to maximize the opportunity, and the founders and shareholders feel it is time to exit, cash out and place the business in the hands of the right type of acquirer who can drive this growth. The model has now been endorsed by a major license acquirer.
STAFF
Six full-time, two part-time, one contractor and three outsourcing companies (2 software development and 1 UX Design)
Ref: 13418
Price: Offers Invited
Disclaimer
These details do not constitute part of an offer or contract. The statements and descriptions given are made without warranties by Enthuse Transformations Ltd (Trading as ETSC). The information contained herein has not been verified by Enthuse Transformations Ltd; complaints regarding the accuracy of the information contained herein will not be acknowledged. Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations, figures and information given on behalf of the seller. Furthermore, any representations made by any representative of Enthuse Transformations Ltd regarding this business are subject to verification and should be independently corroborated.
