Over on our sister site, SourceCon.com, there is a report that that Seattle-based startup TalentSpring, an SaaS-based candidate sourcing solution that uses semantic search technology to find exceptional resume matches for job requisitions, has been acquired. The big news (and until now a mystery) is by whom — top sources say that the acquiring company is Talent Technology, a Canada-based company which produces HireDesk and Resume Mirror.
According to its website, TalentSpring’s resume search engine reviews an organization’s open job descriptions, identifies the relevant attributes being sought (experience, skill, location, education, etc.), and then matches those attributes to tens-of-thousands of resumes found on social networking sites, job boards and the organization’s ATS. The search results are ranked and ordered based on candidate quality and relevance, saving recruiters and hiring managers time, improving hire quality, and reducing overall time-to-hire.
The power of TalentSpring’s system comes from harnessing the capabilities of semantic-search technology and algorithmic ranking methodology to automate the manual process of finding and reviewing candidate resumes. Today 40% of a recruiter’s time is spent sourcing qualified candidates (searching for and reading resumes). And, with a time limit of just 200 resumes per search, they are often unable to find the ideal candidates.
Founded in 1999, Talent Technology is a provider of recruitment and hiring software and component technology. Its goal is to deliver products that make it faster and easier for recruiters and hiring managers to find and hire top talent. With its HireDesk and Resume Mirror products, it has helped many organizations, from small independent recruiting firms to global enterprises, attract and recruit the people they need to drive their success.
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There were whisperings at the recent HR Technology Conference in Chicago of something going on between these two companies, and a TalentSpring podium was spotted residing in the Talent Technology booth. But no official word had been shared — until now.
There is no further information at this point, but there are sure to be some very cool things to come about from this partnership. Stay tuned for more details as they are made available!