Elevator Pitch is a regular feature on Lifehacker where we profile startups and new companies and pick their brains for entrepreneurial advice. This week, we're talking with Aleksander Svetski, founder and CEO of iRecruit.
In 128 words or less, explain your business idea.
We’re the first platform in the world to combine personality, psychometrics, experience mapping, cultural fit along with skills & demographics for the purpose of matching the right people with the right employers.
We’re very different to a traditional job board, like SEEK, Indeed, or OneShift. We choose matching over searching. Quality over quantity. The right fit over any fit.
No more resumes, no more job ads, no more searching, no more applying & no more time wasting.
We want our talent to experience the thrill of getting found, not the frustration of trolling job boards, whilst employers experience the benefit of finding the right person for the role, not the stress associated with wasting time & money only to get the wrong person.
What strategies are you using to grow and finance your idea?
We’ve raised seed from friends & family and $550k as the first tranche of a 2 part Series A from HNW & Angel Investors. These same form of investors will form the majority of our second tranche of Series A and beyond that, once we’re in revenue stage & have achieved cash flow break even in 2017, we will go out for funding from venture capital, most probably in the US.
What’s the biggest challenge facing your business?
Dual marketplace growth, although we’ve found a solution to the chicken & egg problem.
How do you differentiate your business from your competitors?
We’re developing the most advanced, flexible & accurate job matching platform in the world.
After integrating the world's leading behavioural profiling models, and blending them with experience mapping, skills mapping and cultural mapping, we’re also developing a proprietary self-learning algorithm to help produce the most accurate result for employers & talent, that the world has ever seen.
What one phone, tablet or PC application could you not live without?
Apple’s Notes! I’m a list fiend & I have lists about lists about lists. And of course, iRecruit.
What’s the best piece of business advice you’ve ever received?
When building a business, you’re actually building TWO products. The internal and the external.
One is your business or product that goes out to the market. The other is the team (or “company”) that you’re building internally -- and this is a blend of the people you have, the systems and procedures you develop and the culture you create.
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