LiveHire Limited (ASX: LVH) is a talent acquisition company headquartered in Australia. It aims to deliver fast and a hassle-free end-to-end hiring process and is helping in revolutionising the candidate and recruiter experience. On 20th March 2019, the company released an investors’ presentation, in which it mentioned details about the industry and the company’s operations.
LiveHire is a global hiring platform, which is aiming to solve the problem for organisations on hiring and acquisition of talent. The platform helps to deliver a candidate experience that can attract, engage, and hire the best talent on a global scale. The company is delivering services in Australia for both the direct clients and outsourced channel partners. Recently, it has entered the U.S. markets in partnership through the MSP/RPO (Managed Service Provider/Recruitment Process Outsourcing) channel.
The talent acquisition market is huge across the globe. Currently, an estimated amount of $240 billion is spent each year in the U.S. on talent acquisition alone. The technology portion of this spending is expected to increase from 2% to 16% by 2020, as companies are looking for greater efficiency by changing the way they recruit and fundamentally treat candidates like customers.
The LiveHire platform is an ecosystem built for a global scale. It is a cloud-based, open API, highly scalable platform, which replaces the traditional Applicant Tracking System (ATS) and Candidate Relationship Management software (CRM) with a single end-to-end platform. Clients can grow their communities fast due to deep integrations of the platform with major sources of online talent. It is a central platform with plug-and-play software, which can add further efficiency, candidate experience and automation to the client’s hiring process.
The platform has been adopted by some of the leaders in the industry. The company has eight enterprise clients in conjunction with Korn Ferry. More well-known companies from Australia and New Zealand are in the line up to join the platform. The company has received two government contracts to-date with a focus on growth across multiple verticals in Australia and New Zealand. Its rapid expansion can be noted by $3 billion spending on customer projects across 50 countries.
The Recruitment Process Outsourcing (RPO) market manages permanent hires and is valued at $4 billion. LiveHire technology has the potential to account for 5% of this spend. The Managed Service Provider (MSP) market, which manages contingent hire, is valued at $100 billion. LiveHire technology has the potential to account for 0.5% to 1% of this spend.
To capitalise the global opportunity, the company has completed fundraising of $15 million through a placement to professional and sophisticated investors. The placement is priced at $0.60 per share, which represents a 4.6% discount to the 10-day volume weighted average price (VWAP). The proceedings from the placement would be utilised for Platform Architecture, Operating Model and International Channel Partner Business Development.
On the technical front, the stock price declined by more than 5% and closed at $0.632 as of 20th March 2019 compared to the previous closing of $0.67. The stock has given a rally of more than 25% in the last three months, while YTD return stands at 18.58%.
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.