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Securing $5M in series A round, CakeResume makes global job-seeking a piece of cake!
CakeResume, the international talent platform that facilitates job seeking and recruitment, just announced the closing of its $5M Series A funding round from Mynavi, one of the largest human resources companies in Japan.
Competing with Linkedin, CakeResume builds professional networks, facilitating job-seeking and recruiting processes. The Taiwanese-based startup currently serves over 5 million users worldwide, nearly double the amount since we interviewed them last year. Their users mainly distributed across several STEM talent-producing countries, including Indonesia, Taiwan, India, and Vietnam. It boasts more than 7,000 clients, including Google, Nvidia, and TSMC.
CakeResume develops AI to find the best candidates
CakeResume is developing an AI talent recommendation system to save companies time in searching for talent. By offering online resume tools, CakeResume has built a large multinational talent database. The database allows them to smartly match candidates with corresponding talent demands. For job seekers, it needs only a few clicks to finish the resume building and save it online. For companies, CakeResume provides a talent search tool and cross-border recruitment services, helping them reach more domestic and overseas talents, and greatly enhancing recruitment efficiency.
As a result, CakeResume is equipped to offer more precise and human-centric recommendations for both talents and job positions. This ensures that both job seekers and employers have a higher chance of finding a perfect match, streamlining the recruitment process for all involved.
"We are committed to helping companies overcome the global manpower shortage. We position ourselves as the 'upstream supplier' of talent, where talents create resumes on our website and flow down to downstream job posting platforms." said Trantor Liu, CEO of CakeResume. Aiming to help clients accelerate their recruitment, CakeResume leverages its massive talent database and AI search engine.
"CakeResume's mission aligns with our belief in cross-border hiring and how AI would change talent marketing. CakeResume's past growth has proven that their resume tools are sufficient to build a large tech talent database in multiple countries and provide efficient tools to help other demand-side countries reach more potential talents," according to the investment manager from Mynavi.
The funds will be allocated towards enhancing CakeResume's recruitment platform and expanding its international footprint among Asian countries. The company is committed to facilitating better talent matching and building the largest tech talent pool in Asia. Also, this funding will mainly be used to help CakeResume accelerate its growth in countries such as Indonesia, Vietnam, and India, and to build a large database of tech talent.
Amid Global Talent Shortages, CakeResume bridges the gap
According to the 'World Employment and Social Outlook: 2023 Trends' published by the International Labour Organization (ILO), irreversible patterns of aging populations and declining birth rates are anticipated to result in a continued decline in global labor participation rates. Consequently, companies are likely to face shortages of domestic talent, leading to a marked increase in the demand for international recruitment.
Amid a growing trend of labor shortages, CakeResume has positioned itself as a potent tool for companies looking to proactively tap into the job market, beginning with comprehensive talent information. The future landscape for job postings is heading towards fragmentation. Companies can recruit on virtually any social platform. Traditional recruitment methods are becoming less effective at connecting employers with the right talent. It is becoming increasingly important for companies to proactively seek out ideal candidates. Add to this the global trend of labor shortages, and it becomes evident that merging human resources with technology (HRTech) is the foreseeable future. Herein lies CakeResume’s strength: its deep reservoir of job seeker profiles.
Responding to these challenges, CakeResume has rooted its services in 'talent information'. It has built an online multimedia resume editor, ensuring that professionals of the digital age can showcase their skills and experiences. Beyond this, CakeResume provides talent search capabilities, coupled with international recruitment services, to assist companies in filtering and connecting with suitable candidates both domestically and globally.
Since its establishment in 2016, CakeResume has helped millions of global users find jobs. Many globally renowned leading enterprises, including Google, AWS, ASML, DELL, IBM, TSMC, and L'Oréal, have become important partners, attracting talents from diverse fields.
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