Today Matrix Partners is happy to announce our investment in Work4 Labs, the leader in Facebook recruitment technology.
Hiring is one of the most crucial pieces in building a business. This is true for a founding team bringing on employee number one, a Fortune 500 company expanding into a new country, and everyone in between. Recruiting the right people positively impacts all aspects of business. The fact that it is a $400bn market only underscores its importance. However, recruiting and hiring techniques have not adapted as fast as potential recruits. In 2011, less than 5% of recruiting was done using social media channels, but more than 15% of time spent online was spent on social networks. Enter Work4 Labs.
Work4 Labs utilizes Facebook and other social networks to help both enterprises and SMBs fill positions at all levels, from hourly workers to executives. Companies are able to create their own career sites on Facebook and accept applicants directly from there. Further, the company allows customers to leverage the Facebook ad platform to directly and precisely target potential candidates, rather than relying on luck or chance to attract the right individual.
Traditionally Facebook has not been thought of as a business and recruiting tool. However, with 85% Internet users on Facebook and 84% of job seekers having a Facebook profile, for a company to discount the value of the would be shortsighted. Recruiting and hiring has its foundation in social connections. With so many people exceedingly using social networks to manage these connections, recruiting and developing relationships between companies and potential candidates is a natural fit, but has not lived up to its potential…until now.
Work4 Labs has built best-in-class tools for the next generation of recruiting. We are thrilled to partner with Stephane and the team and look forward to seeing the company continue to move social recruiting forward.