Recruitment tech start-up Caroo reveals ‘aggressive’ expansion plans

Posted on September 3, 2020 by Alistair Hardaker

Caroo

Caroo

Manchester-based recruitment platform Caroo has announced it is accelerating its national expansion after a multi-million pound investment.

The platform matches relevant candidates with employers based on skills and experience, rather than job titles as typically used by job boards.

The start-up is gearing up to take on the likes of LinkedIn, having completed beta testing with big brands including adidas, Co-Op and Manchester-based eCommerce brands Boohoo and Missguided.

The subscription-based start-up 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.

Caroo MD Gareth Peterson said the company expects to be self-funded within six months.

The firm said its “aggressive growth plan” includes signing-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.

Peterson said: “We know the current recruitment market is outdated and inefficient and for too long employers have been getting a raw deal when it comes to hiring talent.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.”

The technology is said to ‘stack’ people based on how well suited they are to a job, rather than relying on job titles.

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