Continuing a wave of acquisitions in the recruiting-technology field that includes iCIMS buying Jibe, the sourcing-tool Entelo is acquiring ConveyIQ, which handles candidates deeper into the hiring process. The combined company “will be the first in the industry to offer end-to-end management of all candidate interactions from source to hire,” it says in a press release.
Jon Bischke is Entelo’s CEO. Danielle Weinblatt, CEO and founder of ConveyIQ, will become president and chief product officer.
Both companies have been on their journeys through the years to expand their offerings. Entelo was first known as a sourcing tool used to determine if a candidate was ready to leave their jobs or not. The idea was that recruiters and sourcers could save time, or not waste time, if the software could determine if someone was allegedly a passive candidate but ripe for the picking.
Entelo took hold and expanded into being a diversity-sourcing tool. It started saying it wasn’t just about sourcing, but more about “automation”; for example, determining how good a fit someone would be for a job. It even went so far as creating a “recruitment automation summit,” featuring Billy Beane, one of the most famous names in using data in hiring.
As for ConveyIQ, it started as Take the Interview. That was a tool for companies to do video interviews, something that ultimately was a dime a dozen. So it became more. ConveyIQ now is a “candidate engagement platform,” meant to free up recruiters and sourcers from a lot of scheduling and other back and forth with candidates so they can focus on the more personal recruiting parts of the process. Messages are sent to candidates at different stages of the interviewing and hiring process. Video interviewing is just one part of that.
The acquisition of ConveyIQ is ideal for Entelo. As sourcing technology platforms become more readily available, sourcers and recruiters have desired an “all in one” product. Entelo will take advantage of many of ConveyIQ’s candidate engagement products, including scheduling, interviewing, messaging, automation, analytics, and feedback.
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The acquisition will take Entelo beyond a sourcing tool as it will become the first product in the industry to offer end-to-end management of all candidate interactions from source-to-hire. Additionally, the combined company’s powerful AI-based targeting and candidate re-engagement capabilities will allow organizations to mine their existing candidate database to uncover and rediscover matched talent for current open roles.
“Up until now, companies have had solutions for candidate sourcing, engagement, and communication management at the top of the funnel and further down the funnel,” said Jon Bischke, Entelo’s CEO. “Now, for the first time, forward-thinking companies can leverage one company’s product suite to manage all of their interactions with candidates regardless of where they are in the recruiting process.”
Concurrent with the acquisition, Entelo has raised a new round of funding from Entelo and ConveyIQ investors, including Battery Ventures, Shasta Ventures, USVP, 3TS Capital Partners, SC Ventures, and StarVest Partners.