Recruitment video tech firm to double revenue
Posted on November 13, 2020 by Jonathan Symcox
Video technology platform Odro is on track to double revenue to £3 million in the current financial year.
The Glasgow firm has experienced high demand from recruitment agencies for its product range since the onset of COVID-19.
It has doubled headcount to 38 over the last 12 months and plans to hire 10 more people before the end of 2020.
CEO Ryan McCabe said: “It’s been a challenging time for our client base, as it has been for so many people and businesses across the globe.
“We worked really hard in the first few weeks and months of lockdown to be there for our clients and do everything we could do to help.
“I couldn’t be prouder of the team here. We’ve had our own challenges of course, but to come through recent times in even stronger shape gives us a lot of confidence for the months and years ahead.”
A range of video conferencing platforms are utilised by recruitment agencies, but McCabe says Odro’s capability gives the company an edge over big tech players.
“Unlike Zoom and others, there are no downloads or passwords required: with one click on a personalised link you get straight into our virtual interview rooms,” he said.
“We’ve al-so introduced co-branded portals, with candidate videos, CVs and other docs all in one place.
“The platform features a powerful analytics tool that gives you real-time insight on your interviews and shortlists, in-built GDPR compliance and online training programmes.
“We’re also seeing significantly increased engagement rates with prospective candidates via personalised video messages.”
Odro raised £100,000 of seed funding from external investors in 2015 and has been self-funded since, although McCabe says he has not ruled out a further investment round in 2021.
“We’ve attracted a lot of interest from the private equity community over the last six months and it’s good to progress those conversations in case we decide that the right kind of investment round is going to allow us to grow even quicker,” he added.
With 15 per cent of its revenue coming from international markets after an upswing in activity in North America, Europe and Asia-Pacific, the company is considering opening its first international office in 2021.