Social recruiting platform – Zao, has been bought by the UK eRecruitment company Amris
In a world where our contacts are mapped out on social networks, recruitment through social media is now the main role for almost every recruiter, and various start-ups are already trying to make this process easier. One of these start-ups – L.A.-based Zao, has been bought by the UK eRecruitment company Amris (owned by The Internet Corporation Limited) over the last week.
The financial details of the acquisition remain undisclosed but from what we understand Amris is acquiring the full Zao product and technology, while only part of the Zao team will be staying on. Founder and CEO, Ziv Eliraz, will be sticking around, joining the company’s advisory board.
Redefining the way organisations hire
Amris says Zao’s social referral product will be offered as a “fully integrated” and optional module for existing Amris users, but will also remain available as an independent offering.
From Zao’s blog: “Zao’s employee social referral platform is designed to boost referral hires, and will be available as a fully integrated optional module for all Amris users, and equally available as an independent solution that can integrate with any ATS (applicant tracking system) on the market. Amris is delighted to offer Zao to all companies, whether or not they are using Amris as an ATS”.
Mark Kieve, Chief Executive at The Internet Corporation, commented: “This is a revolutionary opportunity that will redefine the way organisations hire, creating a comprehensive joint solution transforming direct sourcing, and engagement with the power of social media. The combination of Zao and Amris will allow companies to use social networks not only for job advertising, but for employee referrals and enhanced engagement in an automated, and extremely efficient manner”
Zao was originally founded in 2011 by Israeli entrepreneur, Ziv Eliraz. The start-up is revolutionizing social recruiting by enabling companies to offer referral rewards to their professional and personal networks for referral hires, in addition to their employees.
Referrals are often managed in a very manual way, whereby someone from the HR department sends an email to all staff describing a job opening and staff are left to figure out how to leverage their social networks to find and attract suitable candidates to apply. Instead, Zao’s social recruiting platform provides an easy, step-by-step process that automatically matches job descriptions with suitable contacts from social networks and increases employee engagement in referrals, by making participation fun using gamification, which rewards employees for their efforts and not just for referral hires.
In June 2012, the start-up raised a $1.3 million seed round led by Oren Zeev, Founding Partner at Orens Capital and former General Partner at Apax Partners. At that time, other investors included executives at Audible and Time Warner.