Defining your career path is one of the biggest challenges that students face, especially in the face of a gloomy job market and very tough competition. In this universe, RippleMatch has established itself as the startup that helps young graduates land their first job and boost their employability.
The beginning and launch of RippleMatch
The idea for RippleMatch was born in the middle of a deep reflection on the professional future of a first-year student, in a student room at the American University Yale. Andrew Myers still remembers the disappointed look his mother gave him when he told her he was abandoning his studies to devote himself to his new project.
While the rest of his class was applying for internships, his ambition was to create a startup to help them in their efforts. RippleMatch is co-founded with Eric Ho, a student at Yale, who declined a $300,000 job offer at Facebook to fully invest alongside Andrew Myers.
The idea of RippleMatch was to create a revolutionary service to automate student recruitment and support. The company’s software automatically handles all the tasks that are traditionally linked to recruitment, saving companies considerable time and increasing the efficiency of candidates while helping them find the job offers that suit them. correspond.
The meteoric growth of RippleMarch
Five years after its launch, the New York-based startup has helped more than a million young graduates at the start of their careers find jobs with partner companies, such as Amazon, eBay, Pfzier and General Mills.
This Tuesday, April 20, RippleMatch announced a new fundraising amounting to $23.5 million, bringing its total funding to $34 million, for a valuation of nearly $100 million. Investors include Invus Partners, Renegade and Gaingels. On this occasion, the company launched a new tool for managing relationships between candidates and companies, which aims to help employers follow recruitment procedures and promote proximity with students.
Businesses pay an annual subscription of between $25,000 and $250,000, while students get the service for free. Once their information is provided (professional background, assets, motivations, etc.), artificial intelligence analyzes their profiles and identifies the organizations that best suit them.
Today, RippleMatch works collaboratively with over 800 campuses. Andrew Myers explains: “With RippleMatch, you’re only matched with employers you have a high chance of getting an interview with, and 60% of the time, you end up getting an interview in the first round. So candidates really trust our system.”
RippleMatch: a platform that promotes diversity
Students registered on RippleMatch come from over 1,300 different universities and colleges. The platform allows employers to recruit candidates from under-represented backgrounds.. The diversity of profilescombined with the automation of certain tasks, are the main aspects that distinguish RippleMatch from classic job search giants, like LinkedIn and Indeed. Indeed, there is no gender or ethnic bias within this algorithm which has been studied to avoid this type of problem.
Jenn Prevoznik McNamara, HR director at SAP, is delighted with the partnership signed with the startup: “Daily use of the RippleMatch platform allows us to evolve and attract the best profiles, especially in this period when virtual has taken over. Their data analytics, event management platform, and collaboration enable us to make strategic hiring decisions. »
