The landscape of employee recruitment looks a lot different than it did twenty- or even ten years ago, and that’s largely because of the widespread popularity and use of social media platforms. Platforms like Instagram, Twitter, and Facebook are giving rise to Social Recruiting and CareerArc is the leading HR technology platform that streamlines social recruiting. This LA company helps HR leaders recruit new talent and easily manage their employer brand through shareable and engaging social content. CareerArc also provides an Outplacement solution that helps organizations prep employees for the transition in their next career move.
LA TechWatch sat down with CEO and serial entrepreneur Robin Richards about developing a modern platform for job recruitment and placement, the company’s future plan,
Who were your investors and how much did you raise?
We have raised $30M in a growth equity round led by PeakEquity Partners. PeakEquity invests in SaaS companies with $15M-$50M in revenue and brings a lot of operational expertise in the B2B market to our organization.
Tell us about the product or service CareerArc offers.
CareerArc helps HR leaders recruit and transition their workforce more effectively. We provide a SaaS platform that enables enterprises to recruit talent, transition their workforce, and manage their employer brand with ease. We approach HR through the lens of employer brand.
Our Social Recruiting solution allows companies to connect with job candidates on social media by distributing open jobs across social channels, creating and scheduling shareable social media content, and tracking and measuring campaign results. And our Outplacement solution enables organizations to prepare employees for their next career step through resume development tools, skills assessments, job matching and on-demand career coaching.
What inspired the start of CareerArc?
The rise of social media, the importance of employer brand, and candidates and employees having a stronger and louder public voice than ever before was the impetus for building an HR technology company that helps organizations with their employer brand. Democratization is at the core of our mission and thinking – everyone has a social media account, everyone has a voice, every company should interact with potential candidates where they are spending their time, and just as importantly, provide everyone with career assistance regardless of their role or tenure in an organization. Through technology, we can achieve that democratization.
How has your past experience as a serial entrepreneur in LA with several exits shaped the trajectory of CareerArc?
It has provided me with the experience and lessons learned on strategy shifts, market penetration, finding product/market fit, and locally – finding teammates and talent that can help us grow.
How is CareerArc different?
We focus on the two critical touchpoints in employment where an employer brand is tested and scrutinized – hiring new talent and transitioning employees out of the organization.
What market is CareerArc targeting and how big is it?
Both the recruitment and outplacement markets are multi-billion-dollar markets.
What’s your business model?
SaaS subscription enabling HR leaders to amplify and protect their employer brand through our platform.
What was the funding process like?
All fundraising processes are arduous – they require discipline and can be distracting from operating a company, but they can be extremely helpful as well in having you look inwardly at your strengths and weaknesses and prepare for a strong future.
All fundraising processes are arduous – they require discipline and can be distracting from operating a company, but they can be extremely helpful as well in having you look inwardly at your strengths and weaknesses and prepare for a strong future.
What are the biggest challenges that you faced while raising capital?
Running the business while raising money. It’s a juggling act.
What factors about your business led your investors to write the check?
Our management team, our experience, our client base and product suite, the HR technology market, and the potential upside for continuing to disrupt two large markets – recruitment and outplacement.
What are the milestones you plan to achieve in the next six months?
We plan to grow our headcount significantly, release new product enhancements and modules, and unveil new strategic alliances and partners in the HR technology space.
What advice can you offer companies in Los Angeles that do not have a fresh injection of capital in the bank?
Find it. Be aggressive. Concentrate on your KPIs – revenue growth, retention, domination of a specific market or sector. If you do the operational work, the capital will come.
Where do you see the company going now over the near term?
Being the go-to company for the Fortune 1000 that care about amplifying their brand and protecting their brand with job seekers and employees.
What’s your favorite outdoor activity in LA?
Playing basketball and golfing.
