In its mission to democratize the recruitment industry, Australian start-up RecruitLoop has just closed a $500,000 seed round to establish its hiring marketplace in the United States.
Paul Slezak says he is not killing the recruitment industry. It was already dying and he's resuscitating it. He is one of the four founders of RecruitLoop – an online hiring marketplace claiming to cut traditional recruitment costs by 80 per cent to 90 per cent.
Having shaken up the world of bricks-and-mortar retailing, technology entrepreneurs are using cut-price, online offerings to disrupt pricey professional services such as law and recruitment.
The cloud computing mantra of 'pay for what you use' is creating new opportunities in the traditional recruitment business model. This buy-on-demand model has not only enabled innovation for HR professionals but also freelancers and customers... (A RecruitLoop recruiter) recently placed a $150,000 role for a project fee less than $1,000, which was 30 times cheaper than using a traditional recruiter.