Have you ever tried to hire a software engineer?
They’re hot property and every business today is a ‘tech company’.
My name is Michael Cant and I am the Founder of Yatou
Yatou is a digital hiring platform that matches and connects software talent with forward-thinking startup and technology companies.
I come with over 10 years of experience in tech recruitment both in the recruitment agency world and internally with a large global software company.
Some key takeaways for Yatou:
We have access to a $15B industry.
We have ambitious financial projections that indicate a $37M profit in year 5.
We have over 15000 established contacts in Australia and….
We are raising a Seed round of funding.
So what's the problem? Why is hiring software developers so hard?
Over my 10 years in recruitment, I’ve heard the same pain points over and over, so I decided to dig a bit deeper.
We literally spoke to hundreds of Software Devs, Hiring Managers, CTO’s, Founders and Internal Recruiters.
One thing became blindingly obvious:
HIRING HAS A USER EXPERIENCE PROBLEM!
If user experience is about how a user interacts with an experience, product or service it turns out there were pretty some unhappy engineers and developers out there and the people hiring them weren't far behind!
The research, here’s what we found:
For Developers the job search was negative, lacked transparency and they had a general dislike for recruiters.
For the companies hiring them finding quality developers was tough, it's time-consuming (96 days average perm hire for a dev) and once again they have a strong dislike for recruiters, can you see a theme emerging here?
From the research, it was clear that: -
Developers want direct access to jobs - NO RECRUITERS!
They want 100% transparency -
They want better-matched roles that suit their skills - One even said he had been pitched a snake catcher role because he was a Python Developer!
Overall, developers wanted a better Hiring Experience!
For the Employers hiring developers they want:-
Real-Time access to VETTED talent
Reduced Time To Hire
Better matching of skills to their jobs
So armed with this information we came up with
Yatou - A digital hiring platform that matches and connects software talent with forward-thinking startup and technology companies.
How does it work?
Imagine you’re a startup and you have just received your pre-seed round of funding. You want to ramp up development on your project and need to hire 2 developers.
You don’t have the money to go to an agency not going to an agency and spend $20K per hire?
You will literally sign up to Yatou and within minutes be matched with a developer that suits your needs, be able to ‘apply to them’, communicate with them, schedule an interview with them and even hire them in real-time.
The platform, proactively matches developers with companies, even when they aren’t hiring -
We call this Pipeline Continuous Hiring - essentially build them a talent pool of vetted developers they can tap into quickly!
For the Developer, you sign up, run through our vetting process before being given access to Dev Community.
Once given access you are matched with the clients on the platform and your details sent to these clients.
The clients then ‘apply’ to the Developer and they can accept or decline the invite
A company can literally apply to you in minutes of you being on the platform and even make you a job offer!
Yatou takes the pain out of finding software talent and likewise take the pain out of the hiring process for the developers,
All in all it's done to create a better Hiring Experience (HX) for both sides.
Many of the clients we spoke to highlighted pricing as an issue with the current agency model. Paying up to 20% of an Engineer/Developers first-year salary - work that out - most Eng/Dev don’t go much under $100K and 20% of that, that's right $20000 to hire ONE DEVELOPER!
One of our research clients told us - “We spent $45,000 in recruitment agency fees in the 6 months previous to our conversation” - This is a well-recognised tech business with an Internal Talent Acquisition Team!!!
At Yatou, we have flipped the traditional model into a more affordable, subscription-based pricing model for startups and established businesses alike.
Our startup package is aimed, you guessed it, at Startups to hire 4 permanent roles per year at a fixed monthly cost.
Our Growth model is for startups in a growth phase or tech companies that hire regularly and need unlimited permanent hires per year.
Our same research client previously told us “We’d pay $30000 for a licence to deliver unlimited candidates” to them
As you can see the saving here is considerable to the businesses using Yatou’s subscription model compared to the traditional agency model. With our model, startups and growth tech companies can save costs, beat the competition to the punch and get executing their dev projects FAST!!!
We have started to build out the Engineer/Dev profiles based on what the clients we spoke to told us.
And on the flip side, we have started to build out client profiles and job listings based on what the engineers/developers we spoke to told us they wanted to see.
The wireframes we have completed with a strong focus on UX, Mobile and Desktop design. Mobile we see as a big focus because -
90% of job seekers use their mobile devices to look for that dream job.
Yatou.io has already been launched, with over 100 people signing up, about 80 developers and 20 clients and no marketing push.
Our plan is to launch across Australia in May 2021 and follow that with NZ and a launch across Asia.
Thanks for taking the time to listen to Yatou.
Thanks to FndrVestr for the opportunity to present Yatou on the platform.
Investors, if you are interested in knowing more, please get in touch with us at firstname.lastname@example.org.