Read the interview with Amit Chauhan, Recroup
Please explain your venture to us in brief.
Recroup in simple words is Google adwords for jobs postings. Recroup is the only platform where companies and recruiters not just post their job but also promote it on the entire web. At Recroup, we convert a job positing into an engaging banner ad and publish it everywhere on the web. We allow recruiters to reach an audience on 1 billion and attract the talent they could never reach before.
When did you join the business? What have you brought to the table?
I am one of the Co-Founders of the company.
What makes this particular concept different? Are there competitors? If yes, how do you stand out?
Recruiting and hiring is a highly competitive market but no solution allows companies to really promote their jobs. All solutions restrict companies to post job on their platform and reach very limited audience. To make it worse, the best talent does not even visit job boards. This is one major reason 80% of job postings do not get good interests.
We have changed this. We allow companies to promote their jobs on the sites where talent and people hangout. With Recroup, companies promote jobs where talent spends time.
What is the revenue model?
Our revenue model is based on performance. Recruiters can create campaigns and pays only when someone clicks on their job. There is an additional 12% fee on the total cost of the campaign.
Who are the consumers that you are targeting with the innovation? How is this going to affect them?
Our primary users are recruiters and companies. During regular interviews and meetings we have found that finding best talent is one of the biggest challenge for any company. There are tons of the products available in the market for job posting but they do not allow recruiters to reach the hidden audience.
This is where Recroup comes in. We allow recruiters to reach almost anyone who uses Internet. They can target based on location, interests and particular websites.
This application has potential to change the way we look at hiring today. It will make hiring more about advertising.
What is the potential of growth?
Staffing and recruiting is a $450 Billion market worldwide. Companies in US and Canada spend most money on hiring and retaining top talent. Our primary market is US and Canada. We are confident that we are in a billion dollar market with a billion dollar idea.
Give us a brief background of what you were doing before starting the venture.
All the co-founders of Recroup come from technical background. Before starting Recroup, we all were working together in a web development company based in India. During our tenure there, we got opportunity to work together on various projects and understand each other.
Have you received any funding so far? Are you looking for funds? If yes how do you look to allocate the funds?
We were part of Betaspring Accelerator program, which gave us the push we needed to go to market.
Recently, we raised $75,000 from Thunder Bay Ventures as a part of our seed round of $300,000.
What challenges did you face when you were starting out?
Recruting is a crowded market. Entering a double-sided market makes it even harder for companies to gain traction. We had slow turn out early on. We had to make few pivots before we found the right platform that our customers needed.