A new startup created by the former CTO and CEO of Graduateland named Ontame.io has come up and is aiming to build a product that would be useful in bringing better analytics for recruitment.
The idea of the whole program that the start up will build is so that companies can clearly track the applicant and the referral traffic, and its origins. The program will also be useful for applicants to use the program to see if there is any correlation between the qualities of the applicant or whether if it would lead to an eventual hire of the applicant.
The co-founder and CEO of Ontame.io, Jens Reimer Olesen, said that they had created the startup with the aim of being another version that would act as Google analytics for the various recruiters. This allows the recruiters to measure all their traffic channels of applicants from their first interaction leading to the ultimate hire of the candidate and applicant.
Options such as these will help the companies recruiting the applicants to evaluate all the traffic channels since they now have to be based on the meaningful recruitment metrics. Using such as metrics would be better than using the vanity metrics in use right now such as the number of clicks and applications. According to Olesen, these are the only metrics channels that they can provide.
He also added that they managed to use the program by merging their web data from the website which involved the employer which would funnel data from the Applicant Tracking System. After this is all done, they would serve this in a SaaS analytics platform. He noted that Ontame.io is now tracking more than 100 million events on monthly basis.
This means that the integration of the ATS to involve the outcome means the online applicant traffic is now something that would particularly beat the likes of Google Analytics when measured for the ROI of the recruitment campaign.
Google Analytics only allows you to measure the funnel traffic, which means data from the visit to the application. But since the application can not be merged with the ATS data, what happens to the applicant after filing the application can not be seen. Whether they are hired, fired or rejected and put on hold will be unknown. Therefore, knowing where the 10 new people in your company came from is virtually impossible.
The startup, which was formed last year, also announced that they managed to raise about $1 million in seed funding in their latest round of funding. The Denmark based startup already has affluent companies on their payroll such as BMW, PwC and Nordea (one of the biggest banks in Scandinavia). Backers of the company include Magnus Kjøller, Lars Ingerslev, and SEED Capital Denmark.