Trovix
A job search site that uses a human-like search and AI technology to match job seekers with vacancies.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
Trovix was a human resources technology firm established in 2002 by co-founders Jeff Benrey and Earl Rennison. The company was situated in Mountain View, California, and developed a specialism in semantic search technology for the recruitment sector. Its core business involved providing a web-based talent matching application and tracking system, Trovix Recruit, and a service for advertising jobs called Trovix Reach. The firm's technology was designed to mimic how a human recruiter would analyze resumes, considering the relevance of skills, experience, and work history to deliver more accurate candidate-to-job matches than traditional keyword searches.
The company's business model focused on selling its recruiting software to employers, helping them to source and hire candidates more efficiently. Trovix served over 40 clients, including notable companies like Palm and Linksys, a division of Cisco Systems. The platform functioned as a job board where employers could post vacancies and search through a candidate database using the proprietary semantic search engine. This technology was a key differentiator, aiming to understand the context of job titles, skills, and experience levels to bridge the gap between job seekers and employers.
Trovix secured over $18 million in venture capital funding across two rounds from investors including 3i Group, Granite Ventures, and US Venture Partners. This financial backing supported the development and launch of its products. In July 2008, the company reached a significant milestone when it was acquired by Monster Worldwide for approximately $72.5 million in cash. The acquisition was part of Monster's strategy to enhance its own job matching capabilities by integrating Trovix's advanced search technology. Following the acquisition, the Trovix team, including CEO Jeff Benrey, joined Monster to infuse their expertise into Monster's product development. The Trovix technology was subsequently integrated into Monster's 6Sense precision matching technology.
Keywords: Trovix, semantic search, recruitment technology, applicant tracking system, talent matching, human capital services, Jeff Benrey, Earl Rennison, Monster Worldwide acquisition, venture capital, job board software, resume matching, Trovix Recruit, Trovix Reach, HR tech, talent acquisition, recruitment software, candidate sourcing, intelligent hiring