JobLark joins the growing flock of employee referral management products that have landed in the market over the past 18 months. Very similar to Zao, Goood Job, Sticky, Select Minds (Oracle) and dozens more Joblark leverages social networks to enable referrers to discover and refer job applicants. And like Zao, Joblark also allows employers to track and reward all the people that help make successful hires, whether they work for the employer or not. Joblark (like Zao) makes money by charging a fee once a hire is made.
Headquartered in Utah, JobLark appears to have around twenty or so employees and claims to have taken 1 million dollars in funding with 9 million more committed by Apple Tree Capital. Not much else is known about the company, the management team or active customers.
The Hiring Sciences Hunch
The employee referral management space is white hot but the space is getting crowded. The editors here at Hiring Sciences agree that ERM is an interesting niche in the HR Tech landscape but the window may be closing quickly for small upstarts like JobLark. Competition from applicant tracking software vendors, many of which already offer integrated employee referral management modules, will force standalone solutions like JobLark to focus on smaller employers with smaller budgets. Also, user adoption will pose challenges for the likes of JobLark as employees are inundated with tools and a standalone ERM solution may not carry the weight of other more mission critical systems. Overall, we believe the ERM space is very interesting and solutions like JobLark are making great use of social networks but it’s still unclear if a majority of employers are ready to adopt these new standalone tools.
If you are interested in learning more about JobLark visit the site at https://www.joblark.com/
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