Mystandard
Develops software and digital tools that monetizes data ownership.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor | €0.0 | round | |
N/A | Seed | ||
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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Mystandard.io, founded in 2021 by Adam Zec and Josh Sklut, operates as a blockchain-based employment platform focused on talent acquisition. The company was established to address inefficiencies and biases within traditional recruitment systems. Zec's background in sales consulting and Web3, combined with Sklut's extensive experience in talent acquisition, shaped the foundation of Mystandard. Their joint vision was to create a platform that removes intermediaries and enhances transparency in the hiring process.
The platform functions as a data marketplace, enabling job seekers to own, control, and monetize their personal and professional data. Utilizing decentralized technology, Mystandard ensures that a user's information remains private and is only shared with explicit consent. The business model centers on organizations purchasing access to candidate data through the platform's native token, $MYST. This structure diverges from the traditional subscription models of platforms like LinkedIn, as revenue generated from data access is shared with the users. Organizations can make targeted data requests, reducing time-to-hire and cost-per-hire, while candidates receive compensation for sharing their information.
The service is accessible via an app on iOS and Android. For candidates, the process involves creating a profile, which then becomes searchable by employers. They receive notifications for data-sharing requests and get paid in $MYST tokens for accepting them. For employers, the platform offers a way to connect with qualified candidates without the high fees of staffing firms. The system is designed to be unbiased, as candidate information remains anonymous until a user grants access. Mystandard has plans to expand beyond talent acquisition into other sectors like healthcare and consumer research, with the goal of becoming a comprehensive platform for personal data monetization.
Keywords: talent acquisition, Web3 recruitment, blockchain hiring, data ownership, decentralized ID, HR tech, candidate data monetization, recruitment platform, job seeker privacy, direct-to-candidate, skill verification, professional data marketplace, $MYST token, employee verification, decentralized hiring, future of work, secure data sharing, recruitment innovation, talent marketplace, professional credentialing