You’ll recall that a few weeks ago, we learned that TalentSpring had merged with Talent Technology, a SaaS-based candidate sourcing solution that utilizes semantic search technology to find exceptional resume matches for job requisitions. As of this morning, Bryan Starbuck, CEO and co-founder of TalentSpring, and Jade Bourelle, CEO of Talent Technology Corporation have shared some further information on this merger:
Talent Technology Corporation, a leading provider of recruiting solutions for corporations, staffing firms, HR software vendors and job boards, today announced the acquisition of TalentSpring and Standout Jobs. These latest acquisitions, along with the addition of several software industry veterans to the management team, will help drive Talent Technology’s continued growth by delivering a complete portfolio of solutions to solve recruiting challenges today and in the future.
TalentSpring’s advanced conceptual search solution finds and ranks candidate profiles from within customers own internal systems as well as more than 120 million resumes from job boards and resumes across the internet. Standout Jobs brings social media functionality and the ability to build a community-led career portal. These two new solutions build upon Talent Technology’s existing software that automates the entry of resumes into virtually all applicant tracking systems and job boards. In addition, the company plans to release an integrated suite of technologies that will improve the recruiting experience for customers and partners including corporate recruiters, recruiting and staffing firms, human resources departments, job boards, applicant tracking systems, and ultimately improve the experience of getting hired by millions of job seekers.
So, these are some major changes for all three companies. Standout Jobs was sold earlier this year, as reported on ERE.net, but this is the first time they’ve shared the buyer, and we reported here two weeks ago about the merger of TalentSpring and Talent Technology after word leaked about TalentSpring’s moves. Combining the forces of TalentSpring, Standout Jobs, and Talent Technology opens up a lot of interesting avenues for the new venture. Starbuck will take on the role of VP, Product Management, Tim Lang will be VP, Product Strategy, and James Thomas will take the role of VP, Marketing. “We are poised to continue our exceptional growth and solidify our leadership position within the recruiting marketplace,” said Jade Bourelle, CEO, Talent Technology Corporation.
TalentSpring has been a great example of the next level of sourcing tools for the recruiting world. The product quickly finds resumes for both passive and active candidates on social networking sites, job boards, and corporate application tracking systems (ATS) utilizing semantic-search technology and a revolutionary resume-ranking algorithm. Candidates are ranked based on match quality to open position and presented to recruiters in a single dashboard. Companies license the service on a per-seat basis. Add to that Standout Jobs’ ability to combine its recruitment marketing platform with social media recruiting services to drive relevant job seekers to corporate career sites and Talent Technology’s award-winning applicant tracking software and component technology and you’ve got a force to be reckoned with. “These are very exciting times for Talent Technology and our customers,” said Tim Lang, VP Product Strategy, Talent Technology Corporation, “TalentSpring and Standout Jobs are great leading-edge social media and internet recruiting solutions that complement our current products. We are drawing on the richness of each of these respective technologies to increase and improve the resources and solution offerings available to our customers today while setting the stage for some exciting game-changing developments for our customers and partners starting this quarter.”
In a brief conversation with Thomas, we confirmed that while the new venture will retain the name of Talent Technology, TalentSpring and Standout Jobs will retain their product names for the time being while the company rolls out a new set of collaborative products, which will begin happening within the next 30 days. Q1 of 2011 will see major changes with the company’s offering of recruiting and search technologies, career portals, and social media recruiting tools as a result of the combination of resources from these three entities. We’re certainly excited to see how things evolve and will keep you posted here on SourceCon.com.
Learning about a brand new resource is a great way to jump into the Semantic Search Series. We’re excited to share knowledge on some of the semantic web technologies that are available out there here on SourceCon.com. Stay tuned for more information and knowledge on semantic search tools as we roll out our ‘education series’ on semantic search technology!