SkillSoniq
About the Company
SkillSoniq is a recruitment platform that uses artificial intelligence to match companies with skilled freelancers from the U.S. and Canada. Its innovative approach allows businesses to work with talent on a freelance basis before making long-term hires, reducing hiring costs significantly. With a vision of simplifying recruitment through voice-activated devices, SkillSoniq offers a more flexible and efficient solution compared to traditional job boards and staffing agencies. The company currently operates in five cities and plans to expand further across North America.
Idea Behind Company
The idea for SkillSoniq emerged when Abby Verma faced challenges working with outsourced talent during a tech project. Time zone differences, communication hurdles, and trust issues led to a sense of frustration, and Abby realized there was a gap in the market for a more efficient and secure way to hire skilled talent. Recognizing the flaws in traditional recruiting platforms, which often involve long hiring cycles and high costs, Abby sought to create a platform that could offer faster, cheaper, and more reliable hiring solutions for companies seeking skilled professionals.
Creating the Company
SkillSoniq's development began after two years of market research in 2016 and 2017. Abby and his team created a simple yet scalable MVP with the help of a full-stack engineer in New York. The initial product focused on onboarding job seekers and allowed them to quickly upload resumes and apply for roles. To validate the platform, SkillSoniq targeted small businesses in New York, using a basic matching algorithm to connect freelancers with potential employers. This lean approach allowed the team to rapidly iterate and adapt based on customer feedback.
Launching the Business
After building the product and onboarding job seekers, SkillSoniq pivoted towards targeting small companies with fewer than 200 employees, recognizing that they experienced pain points in traditional hiring methods. By partnering with WeWork co-working spaces in New York, the company hosted over 200 events to demo the platform directly to small business owners. This hands-on approach proved effective in securing early clients, helping SkillSoniq generate $350,000 in revenue in its first year. With a strong foundation, the company raised seed funding in 2020 to further scale its operations.
Earnings
As of 2021, SkillSoniq generates approximately $40,000 in monthly revenue, with a total gross revenue pipeline of $5 million. The company has signed up over 12,000 freelancers and more than 300 clients. Notably, the company has achieved favorable unit economics, spending only $200 to acquire a paid client, who typically generates $30,000 in net revenue over six months. Abby credits SkillSoniq’s success to its efficient sales processes, client referrals, and a customer-first approach, all of which have contributed to its rapid growth without relying on paid advertising.
