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- A Bold Startup Challenging the $11.5 Trillion Problem
A Bold Startup Challenging the $11.5 Trillion Problem
Omar Abuhassan
October 21, 2024
As stressed by the World Economic Forum the skills crisis is one of the biggest of our time, second only to climate change, at a total cost of about $11.5 trillion. -Lorenzo Franzi, Skillvue’s Co-Founder
How things are done now ?
Traditional recruitment relies heavily on HR managers to handle the entire process, including shortlisting, behavioral interviews, and technical interviews, reference checks, negotiating offers among many other tasks.
Searching for the ideal employee for your company?
Just Follow these steps !
Schedule more interviews… Found a handful? Fantastic!!
Dive into technical assessments… Discovered a few matches? Awesome!!
Conduct cultural fit interviews… Candidates aligns with your values? Great!
Perform reference checks… Need to follow up with past employers? Sure !
Onboarding … Found a great deal? awesome!
What’s the Problem?
To find the right candidate, we should do more interviews to increase your chances. However, think about what we might need to compromise. Look at this table.
Number of Interviews | Advantage | Disadvantage |
|---|
Low | Quick process, less burnout | 1-Limited candidate pool 2- lower chance of finding the perfect fit |
High | Better chances of finding the perfect candidate | 1-Recruiter burnout 2- poor candidate experience 3-onboarding delays 4-lack of quality and subjectivity |
How Skillvue aim to solve the problem:
Skillvue is a Skills Platform aimed at facilitating candidate skills analysis. It allows you to create a customized assessment for your candidates in just a few steps by selecting individual tests of the skills most important for a given job position.
Still Searching for the ideal employee? 😉
Just follow Skillvue's steps!
Choose the job position and language for your assessment.
Choose the tests: Hard skills, Soft skills, General knowledge
Invite candidates with a few clicks
View the results and identify your top candidates at a glance.
General Overview 👀 :
Competition:
Test Gorilla (280-420 million $ Valuation) and Maki People (26-40 million $ Valuation) are the biggest competitors in the field, However, Skillvue differentiates itself by focusing not only on recruitment but also on talent development and employee assessments.
Business Model: Skillvue operates on an annual subscription plan, tailored to the number of candidates assessed, with no pay-as-you-go option currently available.
Market & Industry growth “CAGR”: The global artificial intelligence in HR market size was estimated at USD 3.25 billion in 2023 and is projected to grow at a CAGR of 24.8% from 2024 to 2030.
Current Round & Invested money: Skillvue has secured $2.8 million in a seed funding round, co-led by Italian Founders Fund and 14Peaks Capital, with participation from other investors like Orbita Verticale, Ithaca 3, and Kfund.
Disruption Score (Avg out of 5):
Category | out of 5 |
|---|---|
Innovation | 4.0 |
Market Impact | 4.5 |
Scalability | 5.0 |
Execution & Momentum | 4.0 |
Total Disruption Score | 4.375 / 5 |
Sources:
Competitors Valuations at app.dealroom.co
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