Start-Ups.Co had the pleasure of interviewing Mrs. ‘Lori Fenstermaker‘; Founder and CEO of the US (Denver, Colorado)-based start-up “Scavado”.
“Scavado” is the simple talent search engine for recruiters.
Below is the full interview that we have conducted with Mrs. ‘Fenstermaker’ regarding her start-up company ”Scavado”;
1. What is it exactly that you do and what “Scavado” is all about?
Scavado is a next generation talent search engine connecting recruiters with the best talent from all over the Web. The platform scours the Internet for the best talent, looking deep into hidden talent pools to provide recruiters with the best options to reach those top candidates. Scavado does all the complicated search algorithms so recruiters can focus their energy on connecting with top talent, not learning complex search strings.
2. When has “Scavado” been founded? And what stage is “Scavado” currently at?
The first version of the app that is now Scavado was built in November of 2008 and used by our Founder and the internal recruiting team. In 2009 our clients started asking to buy it for themselves. In 2012 we rebranded to the name Scavado, enhanced the search capabilities , moved to an incubator in Denver and started scaling. We want every recruiter that still believes the best candidates are found to know about Scavado.
3. What is “Scavado”‘s business model and how does it work?
Scavado has a premium model. We offer a full access free trial for 24 hours. Following the trial prospects have the option to purchase a subscription on a monthly or annual basis. Sometimes prospects like Scavado but don’t have time and ask us to generate candidates for them. We have a team called Scavado Hire that does that. We generate revenue by selling seats of Scavado and by generating candidates for clients that don’t have the bandwidth to do their own candidate sourcing. We’ve also been approached by a number of HR Tech vendors to integrate with their tools. We haven’t inked any deals yet but are exploring those additional revenue streams.
4. How did your team meet? And who in your team does what?
Lori and Tom met through a mutual friend.
Lori and Amy met while Lori was walking home from dropping her kids off at school. Turns out Amy used to recruit for Goldman Sachs in Chicago and Lori is a recruiter originally from Michigan. Their Midwest and Recruiting ties brought them together.
Lori is considered the recruiting domain expert and is known as the Chief Talent Sourcer. She supports customers if they need some sourcing inspiration, is responsible for product direction and also works on recruiting assignments occasionally. If Scavado doesn’t work for Lori, why would it work for anyone else?
Thomas came to Scavado with a history of helping growing companies address the challenges with operations and finance as they scale. Thomas spends his time at Scavado crunching numbers and making sure we can continue to grow while constantly working to increase the value Scavado delivers.
Amy Miller came to lead the services team at Scavado Hire. Amy and the Scavado Hire team offer a unique alternative to traditional recruitment firms that come with a high price tag. At Scavado Hire, we help companies find the best talent on a project basis providing a little or alot of help when needed.
5. What, exactly, makes you different from existing options, what will make your product and/or service stand out in the marketplace? In other words what’s unique about you and what’s new about what you make?
Scavado is unique because we know the platform is not for everyone. Scavado will work best for active recruiters who want to stop spending all their time devising search strings and refocus on reaching out to the top talent. The platform is built to find hidden talent all over the web for proactive recruiters. It’s unique because it was built by recruiters, for recruiters to find the best people.