The platform, which has been built to turn the recruitment sector on its head, matches relevant candidates with employers based on skills and experience, rather than job titles as typically used by job boards.
Taking on established online job platforms such as LinkedIn, the platform has completed several rounds of Beta testing with big brands including adidas, Co-Op and Manchester-based etailers, Boohoo and Missguided.
Caroo MD Gareth Peterson says the company expects to be self-funded within six months, with an aggressive growth plan to sign-up 8,000 clients within 15 months, and 20,000 new candidate profiles per month. The app already has over 100,000 downloads, which is projected to rise to one million by the end of 2021.
It has plotted a nine month expansion plan to roll out across the UK. Business heads have Europe and the US in their sights before the end of 2021.
Caroo has been backed by Optimise Capital, a Wilmslow based private equity business, which has invested £2m into the company to date, with a planned £5m annual investment in marketing to attract employer and candidate users. That includes utilising a 55-seat strong outbound B2B call centre to market to the 500,000 UK based businesses with five or more employees.
Peterson said:
"We know the current recruitment market is outdated and inefficient and for too long employers have been getting a raw deal when it comes to hiring talent. Our aim is to push the sector forward and make the process much smoother for both companies and candidates.”
"For employers, our smart tech matches people and jobs on skills, not job titles, saving them an incredible amount of time when looking for candidates, while for those out of work, it’s more important than ever that they know the opportunities which are open to them.”
“Our technology allows them to tap into roles which they may not have known they were experienced for, giving them greater accessibility in a difficult jobs market.”
Guaranteeing full anonymity for people who want to browse career opportunities, Caroo uses a smart algorithm that stacks people based on how well suited they are to a job saving hirers time trawling through candidate profiles.
It also offers a unique commercial model, ditching commission-based fees seen in the traditional recruitment market, and offering a subscription service that costs employers just £149.00 per month for full access to the platform, including an unlimited number of job posts.
The platform saw a spike in sign-up from January to June as employers navigated tough market conditions caused by the global pandemic.