Let’s discover one of Luxembourg’s hottest startups specialized in recruiting and matching tech profiles with companies. After announcing, at the beginning of the year, fundraising of more than 1.3 million euros, the startup led by Eric Busch is booming. What is the recipe for their success? What exactly does the startup offer? What profiles does it feature? What makes its business model unique? So many questions to all of which you will find the answers in this interview.
Photo: In 2021, nexten.io will be looking to add new features to its platform, and is looking to France to further develop its offerings / Credits © nexten.io
What is nexten.io?
nexten.io is a platform specialised in tech recruitment and connecting thousands of software engineers and tech experts looking for great opportunities with amazing companies.
How does this work?
It’s easy and fast! On the one hand, candidates create their profile adding their tech stack, experiences, education, location, salary expectations, etcetera. On the other hand, companies sign up and can create – in less than 5 minutes – a “recruitment project” with all their requirements. Based on the project criteria, nexten.io’s built-in compatibility engine shows the top candidates matching their project, and companies can start contacting them.
What is your business model?
For candidates, nexten.io is completely free. nexten.io operates on a success-based model. No subscriptions, instead we take 10% of the candidate’s yearly salary package as commission if a company hires them. Recruitment agencies, on the other hand, take a commission of 20-25%.
“We source candidates through a range of acquisition channels, including our own tech community (GUILD).”
What guarantees do you give companies?
Companies can sign up for free on nexten.io. This gives them access to our candidate database. They can receive alerts, create and publish as many recruitment projects as they need, and start conversations with candidates for free and without any limitation. No subscription fee, only a 10% commission per hire, and a full refund guarantee if the candidate leaves within 6 months after recruitment.
What type of tech profiles can we find on nexten.io?
Our candidate pool consists of a wide range of tech profiles looking for permanent and freelance opportunities, including software engineers, network and security engineers, devops engineers, support profiles, BA/BI specialists, SAP, product owners/managers, data scientists, cyber security experts, blockchain developers, and CTOs.
How do you find candidates?
We source candidates through a range of acquisition channels, including our own tech community (GUILD). We organize webinars, support tech initiatives, and run online marketing campaigns in order to keep our candidate pool fresh. Many candidates also sign up through word of mouth, thanks to people who had a great experience with us.
“Startups and tech companies are early adopters and love nexten.io because they need to hire fast and efficiently.”
How do you screen candidates?
Our screening is built on a scoring system. Candidates need to reach a certain score to be accepted. First, our AI conducts a screening and filters candidates according to education, experience, work status, availability, and motivations. Then our team checks the AI’s recommendations and decide whether or not to proceed. Generally, we accept only the top 20% of profiles.
Do you run technical tests for candidates?
Not systematically. A lot of our clients prefer to do their own tests internally; however, we will soon offer candidates the chance to take on technical tests via nexten.io to increase their profile score.
How can you afford to offer this pricing and guarantees?
As a platform business, our screening and matching processes are fully digitalised and automated, which enables us to make several transactions a day without increasing our cost structure significantly. Therefore, we are able to offer this disruptive pricing and guarantees in the long term.
What type of companies do you accept on nexten.io?
nexten.io is open to any type of company except recruiting & staffing agencies, to ensure that we offer the greatest number of opportunities to our candidates. Startups and tech companies are early adopters and love nexten.io because they need to hire fast and efficiently.
But more and more we are seeing companies of every size: from innovative SMEs to big international corporations, and across every industry.
