A year on from receipt of the funding round, the leading skills-based talent marketplace sees a 5x increase in Y-o-Y growth in a banner year
Today, we are announcing our key corporate momentum figures, including year-over-year company growth increased by 5 times from 2020 to 2021. An AI-powered candidate profiling and hiring solution, PitchMe uses sophisticated machine learning technology to make hiring smarter and free from bias using its matching algorithm to connect candidates with the right employment opportunities as well as identifying key upskilling opportunities.
Other key year-over-year growth figures for the HR tech scaleup include:
- 280% increase in monthly recurring revenue (MRR)
- 300% increase in the number of employers using PitchMe to find candidates, for a total of over 1000 employers signed up to the platform
- 200% increase in the number of candidates signed up to the platform, for a total of 150,000 candidates
The corporate growth follows seed funding investment into PtichMe of $1.2 million in August 2020 led by New York-based Starta Ventures, demonstrating unprecedented growth despite the economic toll of the global Covid-19 pandemic.
Following this investment-spurred growth over the past year, PitchMe currently sees over 1,200 active new positions posted to its platform per month, up from 51 in May 2020 — a whopping 2,300% increase in just one year.
Our significant increased momentum includes a number of new products launched in the past year, including the SmartMe profile, a candidate profiling system that develops anonymised candidate profiles through the use of both offline and online data, helping improve matches and combat unconscious biases in the hiring process. Because PitchMe’s unique candidate profiles showcase each candidate’s hard and soft skills, it is particularly useful for career shifters and other candidates with non-linear backgrounds. Equally, it means employers hire the candidate with the right skills for each role, free from external biases.
Another key product launched in the past year is PitchMe’s Job Description Generator, a product designed to help recruiters and hiring managers to save time writing job descriptions by using artificial intelligence (AI) to create accurate, automated professional jobs descriptions in just three minutes. Job Description Generator launched in April 2021 as a Top 5 product on the leading product discovery website, Product Hunt.
The company was named as a top 10 finalist in TechRound’s SaaS 66 competition this year, featured amongst other key players in the SaaS space, including Xero and Robinhood. We are also thrilled to be shortlisted for a CogX Award in Best Innovation in Algorithmic Bias Mitigation category.
In the past year, we have unveiled new pricing plans, a 2x faster employer onboarding program, as well as integration of its AI-driven tech with market-leading recruiting Customer Relationship Management (CRM) and Applicant Tracking System (ATS) products Bullhorn, and Greenhouse.
Last year’s investment and resulting product and sales growth has also spurred the company’s internal team growth; PitchMe’s global solution now sees 20 employees located across four countries, with its headquarters in London, United Kingdom.
“We have always maintained that the future of work is skills-based. With the impact of the Covid-19 pandemic on the jobs marketplace, PitchMe has seen exponential growth in the past year as hiring becomes increasingly skills-based and employers seek smarter hiring solutions,” said PitchMe Co-Founder & CEO Dina Bayasanova, PhD.
“Thanks to last year’s funding round, we’re pleased to have been able to quickly ramp up our product offering, offering some of the most sophisticated HR technology solutions on the market today. PitchMe remains committed to helping both employers and candidates around the world by making the hiring process more efficient and equitable for all parties.”
For more information about PitchMe, please visit our website or follow us on social media.