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Japan’s Leading Mark raises $1.4 million, launches mobile app for job-seeking fresh grads

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See the original story in Japanese. Tokyo-based startup Leading Mark, the company behind an online platform that aims to create a more efficient recruitment process, announced today that it has raised from 171 million yen (about $1.46 million) from Nippon Venture Capital, Mizuho Capital, Link and Motivation, SMBC Venture Capital, East Ventures, and several individual investors. Combined with previous funding from CyberAgent Ventures back in November 2013, Leading Mark has fundraised a total of 221 million ($1.88 million) from investors to date. See also: Leading Mark raises 50 million yen, launches online platform for recruiting Coinciding with the announcement of the funding, the company launched a mobile app for job-seeking students, called Recme, showing users a set of aggregated job listings which may be matched based on 85 patterns of a user’s interest tags. Available for iOS 7 and above on the iTunes Appstore as well as for Android on Google Play. Since its foundation back in 2008, Leading Mark has established a primary business from recruiting consulting for established companies and built up a pipeline for job-seeking students. The firm has acquired about 200 companies as clients to date. Leading Mark CEO Yuki Iida told us how they have been growing: When launching our company, we had been…

recme-app_featuredimage

See the original story in Japanese.

Tokyo-based startup Leading Mark, the company behind an online platform that aims to create a more efficient recruitment process, announced today that it has raised from 171 million yen (about $1.46 million) from Nippon Venture Capital, Mizuho Capital, Link and Motivation, SMBC Venture Capital, East Ventures, and several individual investors. Combined with previous funding from CyberAgent Ventures back in November 2013, Leading Mark has fundraised a total of 221 million ($1.88 million) from investors to date.

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Coinciding with the announcement of the funding, the company launched a mobile app for job-seeking students, called Recme, showing users a set of aggregated job listings which may be matched based on 85 patterns of a user’s interest tags. Available for iOS 7 and above on the iTunes Appstore as well as for Android on Google Play.

recme-mobile-app_screenshots

Since its foundation back in 2008, Leading Mark has established a primary business from recruiting consulting for established companies and built up a pipeline for job-seeking students. The firm has acquired about 200 companies as clients to date.

Leading Mark CEO Yuki Iida told us how they have been growing:

When launching our company, we had been telemarketing potential clients and asking them to “let us help your hiring campaign.” A certain major client participated in our event for job seekers, and we helped them make a good result. They have kept placing orders to us since then.

A good reputation helped them grow further. However, the 2008 global financial crisis and the Tohoku earthquake in 2011 hit the Japanese economy, causing many businesses to start shrinking their hiring budget.

Iida continued:

Our team turned out to be only me along with some part-time workers in 2011. I wondered if we had to shut down the business. However, although society is filled with materialistic items, I had wondered if people were really happy…working in jobs that really satisfy them.

yuji-iida
Leading Mark CEO Yuji Iida

Through the experience in recruiting business over several years, he has learned  well about how he can make his business profitable. But he thought the job-seeking process for fresh graduates is not streamlined. While leading job board sites have to post many job entries, employment agencies typically charge a high commission. Exploring a new alternative to  conventional ways, Iida and his team invented Recme, a platform for matchmaking companies and job seekers by leveraging videos.

Since its launch a year ago, Leading Mark has achieved their first target of 10,000 job-seeking users on the Recme platform. While companies using the platform successfully reduced their workload for hiring ranging from 15% to 70%, the amount of job listings that Recme can provide is far beyond that of major job board sites. That’s why Leading Mark developed a mobile app.

Iida elaborated:

We have been curating job listings from many websites. Users can receive relevant information for available positions and job fairs by only selecting interesting tags.

To prevent a possible violation of copyright issues by reproducing content, the app curates job listings from companies except other job sites or recruiting companies. By choosing a job posting on the app, users will be navigated to an application form that enables them to post an appealing video on Recme, or otherwise to a website of the company that provides the position.

It will be possible on Recme to link up with the applicant entry form for those firms already using the platform. In addition, applications are directed to the main employment information page of such firms’ websites.

Translated by Masaru Ikeda
Edited by “Tex” Pomeroy

Leading Mark raises 50 million yen, launches online platform for recruiting

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See the original article in Japanese Tokyo-based startup Leading Mark, announced on November 5th that it has launched an alpha version of Recme, an online platform that aims to create a more efficient recruitment process. The company also announced that it has raised 50 million yen from CyberAgent Ventures. Leading Mark is a startup that Yuji Iida founded while he was a student at Tokyo University. The company organizes recruitment fairs, having succeeded in attracting more than 15,000 students from prestigious universities in Japan and China, with about 1000 students for each event. Their clients include major companies, providing them with recruitment consulting services as well. According to a survey, the rate of the university students’ satisfaction with their employer at the time of their job offer is 82.6%. But that drops to 16.6% after start working at the companies [1]. In Japan, the average number of companies that students approach during their job hunt is over 100. That means for recruiters less than 1% of students they meet will actually join the company. Leading Mark aims to reduce this mismatching between recruiters and students by providing a platform for students to showcase their strengths through video. We call this…

recme

See the original article in Japanese

Tokyo-based startup Leading Mark, announced on November 5th that it has launched an alpha version of Recme, an online platform that aims to create a more efficient recruitment process. The company also announced that it has raised 50 million yen from CyberAgent Ventures.

Leading Mark is a startup that Yuji Iida founded while he was a student at Tokyo University. The company organizes recruitment fairs, having succeeded in attracting more than 15,000 students from prestigious universities in Japan and China, with about 1000 students for each event. Their clients include major companies, providing them with recruitment consulting services as well.

According to a survey, the rate of the university students’ satisfaction with their employer at the time of their job offer is 82.6%. But that drops to 16.6% after start working at the companies [1]. In Japan, the average number of companies that students approach during their job hunt is over 100. That means for recruiters less than 1% of students they meet will actually join the company. Leading Mark aims to reduce this mismatching between recruiters and students by providing a platform for students to showcase their strengths through video.

yujiIida_portrait
CEO, Yuji Iida

We call this new style of job-hunting with a video ‘Dokatsu’ [2]. We don’t think Dokatsu can replace the entire recruitment processes, because certainly companies need to meet the applicants in person eventually. However, we believe Dokatsu can play a role during the first and second interviews. We think applicants’ videos will help hiring teams find some characteristics that they don’t notice when they screen paper applications. Students can either make videos that feature their strengths and then submit them to companies, or create videos on demand from companies.

The rate for corporate clients for each successfully matched student is 600,000 yen. They also offer clients white-label ASP products at the rate of 30,000 yen. They will start their service on December 1, the usual start date for job-hunting by university students in Japan. They plan get 50 startups and 25 major large companies on Recme.

There are similar businesses outside Japan, such as HireVue (see below), a popular service in the United States. That company raised 53 million dollars from 2009 till 2013. In Japan, so we expect there should be more room for growth as companies increasingly turn to video for recruiting. Rakuten, aiming at expanding in the global market, is one of them.

Leading Mark wants to have 100 corporate clients and 10,000 student users in its first year.

Image from the video for HireVue.
HireVue

  1. The survey was conducted by Mynavi Career Support in 2012. The latter figure is taken from the Annual Health, Labour and Welfare Report 2008 by Ministry of Health, Labour and Welfare  ↩

  2. “Dokatsu” is a combination of two Japanese words, “doga” which means video and “Shukatsu” which means the Japanese job-hunting system.  ↩