The new agreement represents an annualised recurring revenue (ARR) of over three times the current average ARR across LiveHire clients, in addition to other non-recurring upfront revenue in the form of implementation and integration fees.
For every three shares, investors will be issued one option exercisable at 6 cents expiring three years from the date of issue. The online recruitment company will use the proceeds of the placement will primarily be used for general working capital requirements.
Jenn ten Seldam, Marketing Director at SEEK, said: “SEEK Profile is really at the heart of our marketplace, and central to our company purpose – helping Australians to have fulfilling careers, and employers to find the best people for their organisation."
“Through Zambion’s integration with Secured Signing, we are meeting the demand for streamlined HR processes. HR departments want an easy, simple way to finalise hiring documents, and that is what Zambion and Secured Signing have delivered,” said Allan Pumphrey, CEO and founder of Zambion.
Founder Luke Cook, says, “We want FUNLOCKA to change the reputation of the HR department by turning it into the FUN Department. Rewarding and retaining staff is one of the hardest tasks for businesses and often HR departments’ default engagement solution is a voucher, a gift card, flowers or yoga in the lunchroom."
Omer Molad, Co-founder and CEO of the Australian startup Vervoe, is well-aware of the caveats of traditional hiring - but with the launch of his artificial intelligence platform, he hopes to begin to bridge that gap.