Recruiter.com Group, Inc. (Nasdaq: RCRT) made a second acquisition in a month to fuel its fast growing on-demand recruiting services.
U.S.-based Recruiter.com recently completed a takeover of a flexible talent acquisition firm Novo Group, Inc. Terms are yet to be disclosed through a Form 8-K filing with the SEC.
The acquisition is to further build up on-demand recruiting segment, which grew 88% in Q2 compared to the preceding quarter, according to a company’s announcement.
Overall, the company saw revenue increase 137% year-on-year to $4.3 million. Adjusted EBITDA loss stood at $776,000 for the quarter.
“Recruiter.com provides on-tap recruiting, supported by advanced artificial intelligence technologies and the largest network of recruiters nationwide. By coming together, we enhance our capacity to deliver effective talent acquisition solutions and expand our opportunities to leverage our AI software solutions with clients,” said Miles Jennings, president and COO of Recruiter.com.
In July, Recruiter acquired the technology solutions business from rectech firm Uncubed in an estimated $5 million deal.
Brookfield, Wisconsin-headquartered Novo was founded in 2003. It provides project-based recruiting, recruitment program outsourcing, executive, professional search and coaching services.