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ZoomInfo, a Washington-based company providing go-to-market software, data and intelligence, last week announced that it acquired Comparably. Prior to this acquisition, Comparably provided recruitment marketing and employer branding to enterprises, enabling them to attract, engage and retain top industry talents. Following this development, ZoomInfo claims it will integrate Comparably with its existing TalentOS (formerly RecruitingOS) to deliver a powerful talent solution to the enterprise market.
The enterprise ecosystem has experienced massive disruption in the recruitment and retention of talents. A Gartner report notes talent shortage across industries has quadrupled throughout the last 10 years, peaking at an all-time low in 2021 — a figure that another Gartner report predicts will rise this year. Management consulting firm Korn Ferry estimates the global talent crunch could significantly shift the global economic balance, resulting in an acute shortage of skilled labor across economies by 2030.
As the numbers grow and companies increasingly look to close the talent shortage gap, adopting innovation and new technology is now essential for enterprises who want to stay ahead of the curve. A Nelson Hall report notes technology optimization as a major requirement for successful talent acquisition. However, this presents a new challenge, as such innovative solutions that drive company efficiency in talent acquisition must be data-driven and explore talent intelligence. This unique problem is what ZoomInfo intends to solve with the acquisition of Comparably.
Jason Nazar, cofounder and CEO at Comparably, said while job seekers are now more educated and discerning than before, companies are going to unseen lengths to recruit candidates of all backgrounds and skill sets. Nazar said partnering with ZoomInfo will not only revolutionize how the modern challenges of recruiting are solved, but it will be an incredible opportunity to support millions of employees and thousands of businesses worldwide.
Revolutionizing talent recruitment solutions
ZoomInfo currently works with enterprises to manage and organize vast pools of data. Henry Schuck, founder and CEO at ZoomInfo, said the company’s mission is to help companies recruit talent more effectively. He said ZoomInfo’s acquisition of Comparably is a step further in the company’s mission, as it now seeks to evolve how candidates are sourced and hired — helping companies convert more of their talent pipeline.
Comparably will be a major source of company, employee and customer data adding to its world-class data poll, according to Schuck. He added that the unique and proprietary data reach of Comparably will be critical in further building TalentOS product into what Zoominfo claims will be a best-in-class talent platform. Schuck also noted that ZoomInfo is compliant with GDPR and CCPA regulations, showing the company’s commitment to compliance, privacy and security.
ZoomInfo previously evolved its RecruitingOS into TalentOS to better reflect the breadth and dynamic nature of its solutions for human resources, recruitment and talent management professionals. This product evolution, according to claims by ZoomInfo, has seen widespread adoption with more than 1000 companies using the product, resulting in a 50% revenue growth in Q1 of 2022 — a significant leap from its Q4 revenue in 2021. However, with its latest acquisition, the company does not expect its purchase of Comparably to yield full financial results in the 2022 fiscal year.
On the heels of this acquisition, ZoomInfo will now focus on enriching its recruiter search options and providing recruiters with access to millions of quality candidates and employer brand solutions. The company will also leverage Comparably’s suite of innovative employer solutions, which helps companies promote their workplace culture on multiple platforms and educates job seekers.
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