Member only content. Recently an online resume building tool got millions in venture capital. But I question whether its money well spent.
Resume templates are a dime a dozen if you search online for them. Which is why the $3 million that a company named Hiration just got a bit bewildering from an investment standpoint.
See: press release about funding
In the past 20 years I have seen dozens of online resume tools try to make money off job seekers by charging a monthly fee to create a resume online. One of the most famous back in the early 2000’s was VisualCV which had some claim to fame but quickly flamed out.
Hiration calls itself an advanced ‘AI career platform’ that offers resume and cover letter buildings, interview prep resources, digital portfolio builder and a Linkedin review service. They seem to be trying to digitize what a typical career coach/resume writer already does.
But I’m a bit skeptical as to how this becomes a big business, one worthy of three million in investment.
- For one thing job seekers (in the U.S) dont like to pay for monthly services like this. They will typically pay a one time fee to get a new resume but that’s the extent of their wallet when it comes to the job search.
- Second there is already a vast treasure trove of resume advice, templates and free services that already do a fine job in aiding seeking with the resume and job search strategy. I dont think they need a paid service to tip the scales in their favor.
- Thirdly resume writing is more effective when you personalize the resume, cookie cutter approaches dont do much to make a resume the best it can be.
The only really successful online resume tool that ever had much success was Resume.com which was acquired by Indeed a few years ago and who turn ed into a lead generation machine for filling Indeed’s resume database. Resume.com had a great domain name which was worth a handsome sum by itself but to my knowledge its the only successful exit I can think of in this sector.
Can Hiration make money? Perhaps. If its focus is global not just the US, it may be able to eke out a profit. But that will take a lot of marketing spend to make that a reality. That 3 million in funding likely won’t last very long.
