LiveHire (ASX:LVH), which commenced trading on Friday, offers the recruitment industry a productivity platform for delivering talent-on-demand. A total of 50 million new shares were issued at $0.20 per share. Major shareholders, comprising LiveHire’s co-founders Antonluigi Gozzi and Michael Haywood and directors, are escrowed for 24 months to 10 June 2018.
The LiveHire platform leverages a client’s brand, networks and digital assets to invite and curate talent into a single destination – a private "Live Talent Community", allowing recruiters and hiring managers to turn recruitment from reactive to proactive by connecting directly with engaged candidates with live and up-to-date profiles.
LiveHire chairman Geoff Morgan said the IPO would enable LiveHire to accelerate its growth strategy in its existing and new markets in Australia and, in time, internationally, with the proceeds of the IPO used to predominantly develop sales and business development capabilities, to continue to evolve the company’s innovative technology and IP, and for working capital.
“Listing on the ASX will enable LiveHire to scale our client and user base, accelerate our sales and marketing efforts and partner with select recruitment partner firms.
“We welcome new shareholders to LiveHire and look forward to keeping them updated regularly on our progress.”
Co-founder and managing director of LiveHire, Antonluigi Gozzi, said: “Amongst other things, listing on the ASX provides us with the capital to expand our sales team and achieve significant growth for the business, primarily focused around our key performance metric, Talent Community connections, as well as transparency and awareness for potential clients to have comfort that we are a technology company that will continue to deliver above and beyond their needs.”
Geoff Morgan said LiveHire’s key performance metric is its number of Talent Community Connections (TCC), and he said connections have continued to grow at a rapid rate from approximately 50,000 at the end of December 2015 to the end of May where it had more than 130,000, a month-on-month growth of 16% in May.
Morgan said the growth of Talent Community connections can be directly attributed to a careful execution of the company’s growth strategy, with the on-boarding of new clients with significant hiring needs, as well as a steady increase in functionalities that drive customer stickiness and usage.
He said LiveHire’s future Talent Community connection growth is expected to stem from signing further “cornerstone clients” in targeted industries.
Morgan also said that, in addition, LiveHire will scale by partnering with large global Recruitment Process Outsourcing (RPO) companies and API integrations with mainstream Human Resources Management Systems (HRMS).