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HireVue Reports Triple Digit Annual Sales Growth, 70 New Enterprise Customers and Rapid Adoption of Digital Interviews in Latest Fiscal Year(March 12, 2012)
SALT LAKE CITY, UT -- (Marketwire) -- 03/12/12 -- HireVue, providers of an amazing new way to interview -- on demand -- today announced details of its 2011 fiscal year (FY11), which ended January 31, 2012. During FY11, HireVue reported triple digit sales growth, 70 new enterprise customers, 83 renewals, numerous product enhancements, several strategic alliances, and an industry-leading Net Promoter Score (NPS) exceeding 40 percent. Most importantly, HireVue helped customers achieve significant business success -- increasing workforce productivity and quality while slashing interview time, costs and hassle.
"This has been a tremendous year for HireVue, as we've experienced significant sales growth, amplified our team of experts, and emerged as a leader in the digital interviewing market," said David Bradford, CEO of HireVue. "Employers have so much to gain by efficiently and rapidly evaluating talent faster than their competition. With HireVue, employers can save huge costs by avoiding bad interviews which waste time and valuable management resources."
Defining a category that touches every candidate, manager and company on a daily basis, HireVue has emerged as a leader. Adding more than 70 new enterprise customers to its already impressive roster, the company reported 460 percent sales growth in FY11. New customers include: Aetna, Bloomberg, Cardinal Health, CARFAX, ConocoPhillips, Dunkin' Brands, Hammer Haley, Hard Rock Cafe, Hasbro, HealthSouth, Ryder, Suncor, Warner Chilcott, and many more. The company also reported 83 renewal and upsell transactions with existing customers who continue to expand adoption of digital interviews.
Now employing more than fifty resources across the country, HireVue has added several key leaders to its bench of digital interviewing experts including VP of Engineering, Loren Larsen; chief marketing officer, Kevin Marasco; and most recently, the company's chief executive officer, David Bradford. Most well-known for accelerating the growth and performance of game-changing organizations -- most recently Fusion-io -- Bradford has led the company since November 2011. With this organizational growth, the company has positioned itself to meet growing demand for digital interviewing solutions, and continues to develop ground-breaking innovations that keep up with communication trends and clients' needs.
In FY11, HireVue introduced its new and improved Digital Interview Platform and On Demand Interviews to help organizations interview up to ten times faster, nine times cheaper and 100 percent better than traditional interviewing methods. The company's innovative On Demand Interviews provide companies with a web- and video-based screening method.
"We love this innovation. At the end of the day, it makes Staffing and Human Resources look good to the rest of the organization and to our candidates," said Erik Hildebrandt, Director of Staffing and Human Resources for Warner Chilcott. "With HireVue our recruiters aren't spending their time doing less work; they're spending their time doing the right work."
On Demand Interviews deliver deeper insight to candidate's skills sooner and help ensure employers invest their resources advancing only those candidates who are best fit for the position and company. In October 2011, HireVue added features to its solution to help recruiters and hiring managers experience the benefits of the digital interviewing platform -- such as interview guides with configurable workflow, question and probe libraries, and collaborative rating and feedback features -- for phone and in-person interviews as well.
HireVue achieved Section 508 compliance in October, making the company's digital interviewing solution the first available with this accreditation. Enacted by Congress to eliminate barriers in information technology, Section 508 aims to make new opportunities for those with disabilities and encourages development of technology that helps achieve this goal. This accreditation recognized the opportunities HireVue's technology allots to those individuals who are hearing or visually impaired. Through 508 compliance, HireVue's digital interviewing solutions also became available to a new market that requires this accreditation -- federal agencies.
Accolades for HireVue
Consistent with the company's dedication to providing a positive experience to candidates and employers alike, HireVue has achieved an impressive Net Promoter Score (NPS) exceeding 40 percent. NPS is based on the fundamental perspective that company performance can be determined by how likely a customer is to recommend the company to a friend or colleague. A high NPS, such as HireVue's, is indicative of positive company performance and high customer loyalty.
Also remarkable, HireVue's Digital Interview Platform was named a Human Resources Product of the Year by Human Resource Executive Magazine for the second time in the past three years. Selected for its game-changing impact on the interview experience, HireVue was honored during the 14th Annual HR Technology Conference & Expo in Las Vegas, Nev. in October, and was featured in Human Resource Executive.
According to HireVue's annual data, average weekly digital interview volume increased by nearly 500 percent during FY11. The number of interviews requiring webcam shipments decreased significantly during the year to less than ten percent. HireVue's Digital Interview Platform continued to be adopted by organizations of all sizes and industries in both public and private sectors. Digital interviews were done in over 130 countries. On a percentage basis, On Demand Interviews increased while live video, phone and in person interviews decreased. In addition to professional, executive, retail and college recruiting, customers have begun experimenting with additional use cases including internal mobility, training and leadership development.
Strategic Vision for FY12
Maintaining a history of developing transformative interview technology, HireVue has already begun a revolutionary FY12. In February the company announced its newest solution -- HireVue App, the world's first digital interviewing app for iOS mobile devices. The new app leads the way in place-shifting the interview experience, offering candidates another quick and convenient method for completing their HireVue On Demand Interviews -- from their iPhones® and iPads® -- and giving employers access to a more expansive and diverse candidate base around the globe.
As FY12 progresses, HireVue plans to continue to improve its digital interviewing solutions, providing updates that will expand its impact in the market. The company also plans to develop its employee base to support product advancement and customer needs as demand increases and new trends surface.
"The HR technology industry has experienced much consolidation and refinement over the past year. It's truly exciting to be one of this space's innovators, to be trailblazing a market, and to be emerging as a game-changing leader," Bradford commented. "As we look to the coming year, we're well-positioned for additional growth, and will continue to improve the way people collaborate and interact. Our goal is to make the archaic offline business process of interviewing a hundred times easier, and fun!"
HireVue is an amazing new way to interview -- on demand! Users simply browse, watch, rate and share the interviews they want, on their own time -- just like streaming their favorite movies -- even from a smart phone. Recognized by HR Executive Magazine as a Top HR Product of 2011, HireVue's Digital Interview Platform also helps improve interviews of all types, including in person, phone and video interviews. Digital question, feedback and collaboration tools remove hassle and make interviewing up to ten times faster and nine times cheaper. Join HireVue customers like Starbucks, Nike and Walmart who are making interviewing awesome! www.hirevue.com
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