Hiring the right people is central to a company’s success.
This is because without a core team of highly skilled, motivated and engaged employees, it is hard for companies to grow their business or brand, and improve on their offerings.
Therefore, it is no surprise that recruitment tech is attracting a lot of investment and deals.
Hot on the heels of TestGorilla closing a $10 million round, AI recruiting startup TopFunnel has announced it is acquiring Teamable and its employee referral platform for an undisclosed sum.
Both startups are based in San Francisco and aim to make it more efficient for employers to find the right candidates for open roles.
TopFunnel’s platform helps to improve the talent acquisition process for both employers and recruiters by automating a lot of the burdensome processes.
While Teamable transforms employees’ social and professional networks into a talent pool for employers looking for potential job candidates. It currently help companies like Lyft, Canva, Spotfiy and ClassDojo recruit new talent.
By combing both of TopFunnel and Teamable capabilities into one platform, the companies hope that it will create an end-to-end sourcing platform that delivers even better recruiting recommendations.
However, clients will be able to just use one platform at a time if they so prefer.
TopFunnel founder and CEO Justin Palmer noted: “We’ve long admired what Teamable has made possible for employee-based recruiting.
“And in talking with the team, it was immediately clear that we share an aligned worldview when it comes to taking the work out of recruiting so that companies can actually focus on building great products and strong teams.
“Teamable’s technology is really complementary, enhances our ability to deliver on our promise to customers, so we’re excited to join forces to take our platform to the next level.”
Teamable’s founder and CEO Meruzh Danielyan will now join TopFunnel as COO. He added: “As joined forces, we can offer solutions that no one else can offer in the market.
“Teamable will continue its mission of connecting people to work they love, and now we are able to extend beyond referrals — helping companies to manage everything from outbound efforts to inbounds and scheduling.”
This acquisition comes less than two years after TopFunnel acquired recruitment virtual assistant Clara Labs.