Twill Secures $1.4M Pre-Seed Funding to Innovate Hiring Processes
Twill Secures Major Pre-Seed Funding
Twill, an innovative talent platform, has recently announced that it has successfully raised $1.4 million in a pre-seed funding round. Spearheaded by Bloomberg Beta, this financial support is also backed by notable investors such as Vitalize VC, Correlation Ventures, Purpose Built Ventures, and executives from major tech companies.
Addressing Hiring Challenges in Tech
Today's job market poses significant challenges for hiring professionals, with many reporting that a lack of qualified applicants is their primary concern. Traditional recruitment methods often overlook the potential of adept candidates, with a mere 10-15% of applicants meeting the requirements for available roles. Twill aims to disrupt this outdated model by harnessing the power of expert networks and domain-specific knowledge.
Revolutionizing Candidate Recommendations
Unlike conventional recruitment platforms that employ generalists, Twill has established an exclusive community of seasoned tech professionals. These individuals actively leverage their networks to recommend qualified candidates, providing hiring managers with pre-vetted talent personally endorsed by industry insiders.
Combating Recruitment Overload
Michelle Volberg, founder and CEO of Twill, emphasizes the flaws of the traditional recruitment model, particularly in the context of artificial intelligence (AI) complicating the hiring landscape. AI technologies allow candidates to easily craft impressive resumes, making it even more challenging for employers to discern genuine qualifications amidst an avalanche of applications.
A Unique Payment Incentive Structure
In its pursuit of exceptional talent, Twill offers attractive financial incentives to its network of experts. Members can earn a staggering 50% of contingent search fees, which typically range between $5,000 to $25,000 for every successful placement. This unique approach nurtures high-quality referrals while rewarding industry experts for their contributions.
Streamlined Hiring Process
With a growing network of over 10,000 professionals, Twill significantly reduces the time it takes to hire by utilizing warm leads. Qualified candidates are often identified and placed within thirty days, allowing companies to quickly fill essential roles.
Building a Trusted Community of Referrals
As the digital landscape becomes inundated with generic outreach, the most qualified candidates frequently become unresponsive. Twill addresses this by curating a community of industry leaders who have authentic knowledge and can vouch for the talent they are recommending. Volberg notes that their average member boasts over 12 years of experience in fields such as engineering, product, and sales.
The Rigorous Vetting Process
Twill distinguishes itself through a thorough vetting procedure for both community members and candidate referrals. While many recruitment platforms simply forward applications to hiring managers, Twill employs a two-step screening system. Candidates must first receive recommendations from verified community members before undergoing additional vetting to ensure they meet the job's criteria.
Community Expansion and Future Plans
With the recent influx of funding, Twill intends to broaden its expert community, enhance platform capabilities, and expand its team, all aimed at assisting more companies in their quest for high-quality talent.
About Twill
Twill is at the forefront of transforming technical recruitment by connecting firms with pre-screened candidates through recommendations from experienced professionals. With a dedicated community specializing in engineering, product, and sales, Twill leverages personal networks and expertise to ensure high-quality matches. The company is committed to showcasing the value of human-driven recommendations through its distinctive two-layer vetting approach, promising improved hiring outcomes for its partners.
Frequently Asked Questions
What is Twill?
Twill is a talent platform that connects companies with vetted tech professionals through peer recommendations.
How much funding did Twill raise?
Twill raised $1.4 million in a pre-seed funding round led by Bloomberg Beta.
What makes Twill different from traditional recruiting?
Twill focuses on leveraging expert networks for candidate recommendations, ensuring quality through a rigorous vetting process.
Who are Twill's investors?
Investors include Bloomberg Beta, Vitalize VC, Correlation Ventures, Purpose Built Ventures, and executives from major tech firms like Netflix and Meta.
What is the payment structure for Twill's experts?
Twill offers its expert community up to 50% of contingent search fees for successful candidate placements.
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