Ukrainian-British HRTech startup JobCannon has acquired Adsme, a Ukrainian marketing company. Through the agreement, Adsme will fully merge and further integrate its technology into JobCannon’s artificial intelligence hiring platform. According to a report, the deal’s financial details were not disclosed.
Founded in 2022 by Viktor Levchenko and Danylo Orlov, Adsme is developing a technology that uses AI algorithms to analyze and predict the effectiveness of visual and text ads on Facebook and Instagram. These forecasts should help businesses use their advertising budgets more effectively. In 2023, Adsme raised a pre-seed funding round from Fidelity Family Office and Andryi Zaikin, founder of the YEP. The round aimed to enable the startup to expand its operations and grow to $100 million in revenue per year over the next five years.
Commenting on the acquisition, CMO & Co-founder of JobCannon, Andrii Cherednichenko, said:
The technological synergy of JobCannon and Adsme creates a powerful foundation for the global transformation of the recruitment market. Improving the AI component of JobCannon will increase the effectiveness of our products by making the candidate matching mechanism more accurate. The job tracking tool will significantly help attract new, most relevant customers with minimal costs, confirming that JobCannon is a reliable partner in the field of recruitment.
JobCannon, which was also established in 2022 by Peter Kolomiets, Alex Molodyk, and Andrii Cherednichenko, has acquired the startup in its entirety. From its humble beginnings with a small team, it has rapidly expanded to include 51 specialists and close to 500 clients. This growth trajectory is a testament to JobCannon’s potential and its commitment to providing top-notch recruitment solutions.
JobCannon’s innovative approach aims to match job searchers with their perfect positions and, with unparalleled efficiency, assist companies in locating their ideal candidates. The organization is adamant that using a single evaluation for every position could turn out detrimental. Instead, it envisions a society in which job searchers are not required to submit to a never-ending barrage of redundant assessments. It can focus on what counts: exhibiting their unique abilities. This approach supports hiring procedures that are more intelligent and expedient, setting JobCannon apart in the recruitment industry. Headquartered in London, the company strives to transform the nature of work in the future, build long-term connections, and facilitate career advancement in addition to recruiting.
In early 2024, the startup raised $500,000 in a pre-seed round from Whitehill Capital, with the backing of the World Bank, to further develop its SaaS product and implement artificial intelligence.
Peter Kolomiets states the deal should be at most $1 million. The agreement will be financed in several tranches. Following the acquisition, Viktor Levchenko will join the JobCannon team as CTO. Adsme’s AI technology will be integrated into the JobCannon recruiting platform to improve the algorithm for “matching” candidates and recruiters.
