Company Research Report: Hatch
Company Overview
Name, Mission of the Company
Company Name: Hatch
Mission: To help all people find meaning in work by revolutionizing the traditional job marketplace.
When was the Company Founded and By Whom
Founded: Hatch officially launched just before the COVID-19 pandemic in 2020.
Founders: Adam Jacobs (Co-founder of THE ICONIC) and Chaz Heitner (Co-founder of Zip Co).
Key People in the Company
- Adam Jacobs: Co-founder of Hatch, formerly Co-founder of THE ICONIC.
- Chaz Heitner: Co-founder of Hatch, formerly Co-founder of Zip Co.
- Taryn Pieterse: Investor from Rampersand.
Where is the Company Headquartered
Headquarters: No specific information on the headquarters location is available.
Number of Employees
Employees:
- LinkedIn Data: 25% of all staff are early career talent.
- Headcount Growth: 33% over the last 12 months.
- Entry Level Hires: 6 entry-level hires in the last 12 months.
Revenue of the Company
Revenue: Specific revenue data is not available.
What is the Company Known For
Known For: Hatch is known for its innovative AI-powered job matching platform that connects candidates to jobs based on skills, motivations, and values rather than traditional resumes.
Products
What Products do They Offer
Products: Hatch offers a job matching platform, specifically designed for early-career professionals and those in the first decade of their careers. The platform leverages advanced AI to match candidates with jobs that fit their skills, values, and motivations, significantly improving the hiring process for both job seekers and employers.
High-Level Description of the Product
Platform Description: Hatch's job matching platform is designed to create a holistic approach to hiring that goes beyond traditional resumes. The platform enables users to upload videos about themselves, complete tasks to demonstrate their skills, and receive job matches that align with their personal and professional profiles.
Key Features of the Products
1. AI-Powered Matching: Uses advanced AI to analyze candidates' skills, values, and motivations to match them with appropriate job roles.
2. Video Profiles: Allows candidates to upload video profiles to better showcase their personality and fit for the role.
3. Task Demonstrations: Includes tasks that candidates can complete to demonstrate their skills in action.
4. Values-Based Matching: Matches candidates with jobs that align with their underlying values and motivations.
5. Holistic Hiring Approach: Focuses on the human aspect of hiring, not just what’s listed on a resume.
Recent Developments
What are the Recent Developments in the Company
Recent Developments:
- Hatch has seen a growth rate of 20% month-on-month over the last two years and is now the preferred job platform for young professionals in the first decade of their careers.
- Hatch has expanded its user base to over 150,000 candidates and 120 employers, including prominent names like Domain, Hello Fresh, Uber, Woolworths, and Nine.
What are the New Products Launched
New Products Launched: No information is available about any specific new product launches.
What are the New Features Added to Existing Products
New Features Added: Detailed insights on the new features added to the existing platform are not available.
Any New Partnerships
New Partnerships: No specific information available about new partnerships. However, the company has secured investment from a variety of high-profile venture funds and private investors, which could imply strategic partnerships.
Additional Information
Recent Funding
- Funding Amount: $7 million in an oversubscribed funding round.
- Investors: Included Rampersand, Alberts Impact Ventures, Aura Ventures, Jelix Ventures, Investible, and private investors like former Latitude and Australia Post boss Ahmed Fahour.
Usage of Funds:
- Application: To expand the company nationally in Australia and then globally. Specific valuation not disclosed.
This report uses data from various company descriptions and articles highlighting Hatch's unique positioning in the market, growth, and funding activities. No additional commentary is included beyond the available data.
