Hiremii caps off FY21 with $6.94 million in unaudited revenue following first ASX-listed quarter

Hiremii Ltd has released its first quarterly report as a public company, capping off the 2021 financial year with a 17.6% increase in revenue. The technology-driven labour-hire and recruitment company joined the Australian Securities Exchange in mid-May and brought in almost $6.94 million in unaudited revenue over FY21. Over the June quarter, Hiremii worked to increase client numbers, onboarded new leaders across its business and continued to develop its artificial intelligence (AI) offering for the recruitment and labour-hire industries. Moving ahead, the technology stock has $4.2 million in the bank to support its growth strategy as it works to bring advanced AI to the recruitment space. “A strategic focus” CEO Christopher Brophy said: "It has been a little over two months since the completion of HMI’s successful listing on the ASX and in this short space of time we have established our sales and support team led by Andy Stone as chief operating officer, established a footprint on the East Coast through the appointment of Jayde Stokes as general manager East and fundamentally underpinned our mission towards state-of-the-art automation, across the recruitment pipeline, using advanced artificial intelligence (AI). “With a strategic focus on developing world-class leading candidate matching, speed of placement and candidate intelligence, the Hiremii technology approach looks to target the most effective and efficient talent acquisition technology of its kind.” Financial performance In terms of financials, Hiremii executed an initial public offering and moved to 31 registered clients over the 2021 financial year. In tandem with its ASX listing in mid-May, Hiremii raised $6 million before costs to support its future activity. Based on its unaudited revenue growth over the last financial year, the technology stock has calculated a compound annual growth rate of 101% from FY19 to FY21. In terms of expenditure, Hiremii’s has also outlined how the IPO funds have been to support operations since its admission to the ASX. Executive appointments On May 27, the ASX-lister appointed Andrew Stone as its chief operating officer (COO). Stone, a recruiting specialist with more than 25 years of experience, has worked in technical and trade markets across Europe, the Middle East, Australia and South-East Asia. The new COO also brings experience as an industrial consultant and a regional and operations manager. He’s served in a suite of major project recruitment positions across the automotive, aerospace, oil & gas, mining, power and infrastructure industries. Hiremii also added Alison Gaines and David Buckingham to its board, where they serve as non-executive chair and non-executive director, respectively. The technology stock also appointed Jayde Stokes as general manager to establish its operations and support teams across Victoria and New South Wales. Stokes spent more than 15 years in national recruitment, sales/business development and management roles across a number of industry sectors, including executive selection, defence, oil and gas, mining and renewables. Tech developments Technology-wise, Hiremii spent the June quarter working towards its overarching goal: implementing state-of-the-art automation across the recruitment pipeline. Currently, Hiremii’s AI capability predominantly focuses on candidate processing at scale, with this capability continuously improved through work on three key components: CV Parsing — the processing of CVs and resumes using natural language programming to analyse text and extract important, meaning a CV can be analysed, classified and interpreted within seconds; Semantic search — technology that contextually matches a candidate’s skills and experience to a job requirement; and Machine Learning Training Automation — automating core machine learning pipeline capabilities in order to learn from user interactions. In addition, Hiremii began to role out two enhancements to its recruitment platform: Semantic match to scope — Functionality that mimics the way the human brain associates skills and job roles using semantic matching to better find, match and rank candidates relative to key search terms; and AI Agents — Performing initial screenings and reference checks to reduce the workload of recruitment teams and hiring managers.