DeveloperAuction, which launched in 2012
to revolutionize the engineer recruiting market, is today rebranding
itself as Hired.com, and putting its sights on a much larger target
covering designers, data scientists and more.
The idea is pretty straightforward:
companies can bid on candidates, who then get to see the company’s offer
before accepting or declining an interview; companies must honor their
highest offer to a particular candidate, and the potential employees are
not bound to accept the highest offer (or any offer). DeveloperAuction
takes a fee from companies, and offers a bonus to employees once the
candidate accepts an offer.
A year ago, co-founder
Matt Mickiewicz told
me that DeveloperAuction was the “first transparent marketplace for
recruitment.” Now, Mickiewicz tells me, “We see an opportunity that’s
much bigger than developers and engineers.”
Mickiewicz says DeveloperAuction was too limited, as it implied that
the site was just for engineers, and notes that the auction part of the
site had negative connotations, as many employers thought that the
highest bid won the talents of the best engineers. Mickiewicz has told
me on multiple occasions that a majority of engineers do not accept the
highest monetary offer that they receive, but evaluate offers on a
variety of factors.
He explains that the company spent six months searching for a new
name once it realized that DeveloperAuction was too limiting. The
company hired an external consulting company and almost pulled the
trigger on a few deals before they fell apart at the last minute.
Mickiewicz notes that the Hired.com domain was “the most expensive
option” for the company, but ultimately conveys the company’s mission
the best.
The company
raised $2.7 million
from NEA, Sierra Ventures, Crosslink Capital, Google Ventures, Jeff
Clavier’s SoftTech VC, and John Suliman’s Step Partners in March.
Mickiewicz says most of that money is “still in the bank.” He added that
the company, which is now up to 22 employees, is on a multi-million
dollar run-rate for 2013, but declined to discuss further specifics on
the company’s financial situation.
Recruiting is consistently a challenge for tech companies, from Apple
and Google to the youngest startups. I’ve seen a wide variety of
solutions to the issue, but none as impressive as DeveloperAuction. And
with the company’s new name, it can take on more than Silicon Valley
recruiters, as DeveloperAuction seeks to disrupt the worldwide
recruiting model for every industry.
Earlier this summer, the company
opened its auctions
to designers and interns. Mickiewicz tells me that shortly after the
company opened to data scientists a few months ago, he hired a data
scientist off DeveloperAuction to work at DeveloperAuction.
DeveloperAuction has added over 250 companies since May, bringing the
total approved employers using DeveloperAuction to over 560. The
company is still approving employee applications by hand, and whittled
down over 3,000 applications to 200 engineers for the platform last
month.