From San Francisco, Terminal announced in a press release the acquisition of ROIKOI, a talent mapping software company powered by AI.
Terminal is a company dedicated to building world-class remote engineering teams for high-growth technology companies. The acquisition combines Terminal’s global reach, recruiting experience, and broad engineering base with ROIKOI‘s AI-powered sourcing technology to automatically identify and engage with top talent.
ROIKOI’s talent acquisition platform will be available to all Terminal customers immediately, marking a major advance in improving the currently interrupted recruitment process with an efficient recruiting solution.
Terminal CEO Clay Kellogg mentioned that fast-growing startups are turning to Terminal to more efficiently hire elite engineers to fit the company’s needs. With ROIKOI, the company seeks to add new technologies and services to maintain a competitive advantage in the market.
The executive also commented that, due to the economic pressures caused by the COVID-19, companies are being more selective to hire the engineers that best suit their business needs.
According to information from the company itself, Terminal already speeds up the traditional contracting process by 40%. With ROIKOI artificial intelligence technology, they will seek to add rocket fuel to quickly find the ideal engineers for startups to take off as quickly as possible.
The Terminal Engineer 2020 report released earlier this year found that nine out of ten engineers in North America think the hiring process is having trouble.
Among respondents, 70% reported disorganization as one of the main problems, while 42% mention that there are long and problematic delays.
ROIKOI’s referral process helps startups hire engineers 10 days faster and retain employees twice as long. Its patent-pending Talent Graph allows Terminal engineers to easily identify and vote for the best talent in their professional networks. ROIKOI then automatically matches mostly highly-qualified engineers with open positions at Terminal recruiting firms. Integrated disclosure tools make it easy to start personalized conversations with candidates, achieving response rates of up to 65%.
“The best way to find the right hiring is to work with the excellent talent you already have, but most companies have not found a way to successfully automate the process,” said Andy Wolfe, founder, and CEO of ROIKOI. “Terminal is a pioneer in building global engineering communities that are gold mines to activate incredible talents. By applying ROIKOI technology, we can unlock Terminal’s world-class networks to help more engineers find jobs they love while helping startups find essential talent, and avoid the cost and delays of blind disclosure and outdated referral programs. “
ROIKOI Founder and CEO Andy Wolfe joined Terminal to Lead Product and Engineering, where he will lead the company’s product roadmap and develop additional technology to advance Terminal’s mission to streamline access to talent.
While various industries have frozen their hiring processes and laid off nonessential workers, many startups continue their hiring processes.