Benzinga | Dec 15, 2021 09:04AM EST

Recruiter.com Reports Memo Of Understanding With Raise Recruiting; Deal 'increases its focus on software through an agreement with a major technical staffing provider,' No Terms Disclosed

Recruiter.com increases its focus on software through an agreement with a major technical staffing provider

NEW YORK, NY / ACCESSWIRE / December 15, 2021 / Recruiter.com Group, Inc. (NASDAQ:RCRT)(NASDAQ:RCRTW) ("Recruiter.com"), a recruiting solutions platform, is pleased to announce a memo of understanding with Raise Recruiting ("Raise"), a division of the Ian Martin Group, which is a leading $300M/year engineering, IT, and technical recruitment firm.

"As Recruiter.com shifts its focus toward software and on-demand recruiting services, we are pleased to find such a high-quality partner as Raise to accelerate our transition," said Evan Sohn, CEO of Recruiter.com. "Our staffing-related clients will receive exceptional support from a world-class staffing partner, while Recruiter.com continues solving hiring challenges for employers with our technology-led solutions. We are also excited to help Raise scale their US-based recruiting solutions with our advanced AI software, and that our partnership will increase our overall monthly software revenue by about 10%."

Under the terms of the agreement, Recruiter.com and Raise will work together on a joint partnership that will involve the transfer of certain assets, clients, and services for mutual benefit. Recruiter.com will assign certain staffing-related clients to Raise and assist them in creating a seamless transition and building an overall net positive for the end clients. Raise, will, in turn, subscribe to Recruiter.com's AI recruiting software and on-demand recruiters.

Tim Masson, CEO of the Ian Martin Group, said about the planned transaction, "Our partnership with Recruiter.com will help Raise continue our incredible growth story, which began in 1957. As part of the Ian Martin Group, which is a Certified B Corporation, Raise embraces the future as stewards - of the careers of our candidates, the projects of our clients, the communities that surround us, and the environment we inhabit. We are excited to leverage Recruiter.com's software solutions, expand our team with flexible recruiters, and service and grow relationships with many national brand clients."

After the execution of sales contracts and other related agreements, the parties expect the transaction to close on December 31, 2021.