SkillSoniq has raised seed funding to bring its recruiting app to a broader range of businesses – Amount remains undisclosed. Investors in this round include successful entrepreneurs, prominent Venture Capitalists and Angel Investors from Amazon, Airbnb and Goldman Sachs. SkillSoniq plans to use funds from this round to expand further in New York, enter new markets and roll out exciting new product features. SkillSoniq is an AI based recruiting marketplace that helps companies hire skilled, local freelancers (also called independent contractors) with the option to convert them into full-time employees. SkillSoniq is uplifting the recruiting space, which it believes is plagued by old school staffing agencies and job portals that simply do not work.
SkillSoniq believes that companies spend too much time and money in hiring people, without knowing how their hire will perform on the job, which leads to more money being wasted in eventually finding a replacement. On the other hand, job-seekers go through an excruciating recruiting process applying for jobs endlessly without ever hearing back. SkillSoniq believes that these problems will get worse and is disrupting the current recruiting process with the use of AI – SkillSoniq enables companies to try the best talent within days on a “Freelance basis” and only sign them up full-time if there is a perfect fit. This reduces their hiring risk and drastically cuts down employee turnover as companies only sign up tested workers full-time. Unlike job portals where companies are flooded with resumes, SkillSoniq’s goal is to provide the least, most accurate matches to a company to cut down their time to fill. Since launch, SkillSoniq has helped companies cut hiring cost by over 60% through its AI based technology. SkillSoniq is also making it easy for skilled job-seekers to source jobs they love without the hassle of applying to thousands of jobs and interviewing for jobs they have a low chance of cracking. In the SkillSoniq world, once a job-seeker is approved on the app, interview and job offers simply come to them in a few days, as opposed to them bidding or applying for jobs.
SkillSoniq estimates its market at $30B a year just in the US, and believes that this market will grow rapidly due to the COVID-19 pandemic as businesses prefer growing and maintaining a lean, flexible workforce with an option to switch the best talent to their payroll. Just last year, freelancers contributed $1 Trillion to the US GDP and the freelance pool is growing three times faster than the traditional workforce in the United States.
SkillSoniq's founder comments:
SkillSoniq's Vision is to make hiring as simple as speaking into Amazon Echo or Google Home. As an example, companies will simply say “Alexa, get me a digital marketer” and the perfect digital marketer will pop up in their office in a few minutes. With the use of AI, we are personalizing our marketplace to understand the hiring preferences of companies, and preferences of job-seekers through complex data points and feedback loops. Eventually, companies on SkillSoniq will not even need to conduct interviews because the technology will know their hiring needs so well. SkillSoniq is quick, affordable and convenient. Something that Job Portals, Staffing Agencies and existing Freelance websites are not.
Since launch in the Greater New York region, SkillSoniq has quickly built a database of thousands of local freelancers or contract workers and signed up hundreds of businesses, most of whom are using their web app repeatedly to hire more and more talent. With the world's workforce moving rapidly towards freelancing (in what is now called Gig economy), SkillSoniq is well positioned to leverage this freelance revolution and use technology to wipe out inefficiencies in the recruitment space. In the SkillSoniq world, companies will be able to build rockstar teams in no time and job-seekers will have jobs come to them, rather than submitting applications with no result.
You can learn more about SkillSoniq at www.skillsoniq.com. We wish them all the best!
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