HigherMe Company Profile

Background

Overview

HigherMe is a technology company specializing in hiring software tailored for the restaurant and retail industries. Founded in 2014, the company offers a comprehensive suite of tools designed to streamline the recruitment process, enabling businesses to efficiently find, screen, and hire employees. HigherMe's mission is to simplify hiring for high-volume employers, particularly in the franchise sector, by providing user-friendly solutions that reduce the time and cost associated with traditional hiring methods.

Industry Significance

In the competitive landscape of human resources technology, HigherMe has carved out a niche by focusing on the unique needs of the restaurant and retail sectors. By addressing the challenges of high turnover rates and the demand for rapid hiring, HigherMe contributes significantly to operational efficiency and workforce stability in these industries.

Key Strategic Focus

Core Objectives

HigherMe aims to revolutionize the hiring process for franchise businesses by offering tools that automate and simplify recruitment tasks. The company's primary objectives include:

• Enhancing Applicant Attraction: Utilizing innovative features like Text-to-Apply to increase the volume of applications.

• Streamlining Candidate Screening: Implementing automated screening and interview scheduling to expedite the selection process.

• Facilitating Paperless Onboarding: Providing digital solutions for onboarding to improve new hire retention and readiness.

Areas of Specialization

HigherMe specializes in:

• Text-to-Apply Technology: Allowing potential candidates to apply via text message, making the application process more accessible.

• Applicant Tracking System (ATS): Offering a centralized platform for managing job postings, applications, and candidate communications.

• Paperless Onboarding: Enabling new hires to complete necessary documentation digitally before their first day.

Key Technologies Utilized

The company's platform leverages:

• Mobile-First Design: Ensuring accessibility and ease of use across devices.

• Automated Scheduling: Reducing manual tasks through automated interview scheduling and reminders.

• Data Analytics: Providing insights into hiring metrics to inform decision-making.

Primary Markets Targeted

HigherMe primarily serves:

• Franchise Restaurants: Assisting multi-unit operators in managing large-scale hiring needs.

• Retail Chains: Supporting retailers in efficiently staffing their locations.

Financials and Funding

Funding History

As of October 2018, HigherMe raised $204,122 from 303 investors through a funding round. Prior to this, the company secured $1.5 million in seed funding in October 2016.

Revenue Growth

The company's revenue trajectory is as follows:

• 2021: $2.5 million

• 2023: $4.2 million

• 2024: $6.5 million

Utilization of Capital

Funds raised have been allocated towards:

• Product Development: Enhancing platform features and user experience.

• Market Expansion: Extending services to new geographic regions and industry segments.

• Customer Support: Improving client services and support infrastructure.

Technological Platform and Innovation

Proprietary Technologies

HigherMe's platform includes:

• Text-to-Apply: A feature that allows candidates to apply via text message, increasing accessibility and application rates.

• Automated Interview Scheduling: Tools that coordinate interview times, reducing administrative burden.

• Video Cover Letters: Enabling applicants to submit video introductions, providing a more comprehensive view of candidates.

Scientific Methodologies

The platform employs:

• Data-Driven Screening: Utilizing algorithms to assess candidate fit based on predefined criteria.

• Machine Learning Algorithms: Enhancing the matching process between employers and potential hires.

Leadership Team

Key Executives

• Rob Hunter: Founder and CEO. Prior to founding HigherMe, Rob was a multi-unit franchisee, an experience that provided him with firsthand insight into the challenges of hiring in the restaurant industry.

• Elise Polezel: CEO. Elise has been instrumental in forging strategic partnerships, such as the collaboration with Zynergia to offer affordable healthcare solutions to employers.

Board Members

• Ian Cahn-Fuller: Board Member representing Saltoun Capital Partners.

• Ryan Robinson: Board Member.

Competitor Profile

Market Insights and Dynamics

The applicant tracking system (ATS) market is highly competitive, with numerous players offering a range of solutions tailored to various industries. The demand for efficient hiring tools has led to significant growth in this sector, with companies seeking platforms that offer automation, integration, and user-friendly interfaces.

Competitor Analysis

Key competitors include:

• iCIMS Talent Cloud: A global talent acquisition platform offering solutions for building and scaling workforces.

• ClearCompany: Provides a comprehensive talent management platform with a focus on