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ROIKOI Raises $1.7M Seed Round

AUSTIN, TX, ROIKOI, a passive job referral platform, has raised $1.7 million in seed funding from SocialStarts, Capital Factory and individual angels.
ROIKOI launched its referral sourcing platform today, which helps companies discover thousands of talented, passive candidates, as identified by a company's own employees. In the 18 months since company launch, ROIKOI has closed $1.7 million funding from investors to harness the power of online networks to quickly, easily and effectively identify the top 7% of everyone your employees already know.

HomeAway Recruiting Manager Antonio Busalacchi commented on the platform: 'ROIKOI helped us get over 4,000 passive referrals from 100 employees, saving us hundreds of recruiting hours by not having to meet each employee individually and then hunt down the referrals' contact information.'

Early customers include HomeAway, as well as Intouch Solutions, Square Root and Zenoss. The ROIKOI referral sourcing platform is officially generally available and will be publicly demonstrated for the first time next week as part of the HR Tech conference, Oct 18-21 in Las Vegas, where ROIKOI is exhibiting.

'We are thrilled to launch our referral sourcing platform today with such amazing customers,' said Andy Wolfe, ROIKOI founder and CEO. 'Employee referrals are easily the best source of hire, but most tools require employees to keep up with new job openings or ping their networks every time a new position opens up. And while sourcing tools give great access to passive candidates, they struggle to assess talent and fit. We capture the idea behind referrals - that your employees are great at identifying other great people - and combine it with the volume of a sourcing tool by making the referral process much simpler for employees.'
ROIKOI has closed $1.7 million in funding from SocialStarts and Capital Factory as well as individual investors including Brett Hurt, Andrew Busey, Rob Taylor and Jason Story.

'Sometimes a solution comes around that is so obvious when you see it in action, you wonder why no one thought of it before,' said Brett Hurt, founder of Bazaarvoice and Coremetrics and co-owner of Hurt Family Investments. 'We got that reaction from clients at the beginning of Bazaarvoice and Coremetrics, and Andy and his team are experiencing the same reaction now at the beginning of ROIKOI. You'll never go back to the standard ways of identifying great people after you use ROIKOI.'

The ROIKOI premise is easy and logical, but hadn't yet been done in software: ask your current employees to go through their contacts just once, and simply, quickly identify those people in their network they think would be great to work with, regardless of what job they do or if they're looking. Period.

ROIKOI does the rest, collecting this information and presenting to the company a set of talented passive candidates hand-picked by its employees to be good fits for its company. ROIKOI has built a simple search interface that shows who does what job, and its proprietary scoring algorithm sorts candidates by talent and by fit. People naturally refer others they've worked with in the past to ensure an even distribution of candidates across a company's open jobs today, and needs tomorrow. ROIKOI customers have a constant source of leads for whatever job openings they have at present, or in the future.

ROIKOI customers save thousands of dollars for each passive referral they hire by reducing the time spent sourcing, hiring faster, retaining employees longer and making fewer hiring mistakes.

Founded in 2013, ROIKOI helps companies find more qualified candidates more easily. ROIKOI is a referral sourcing platform that helps companies discover thousands of talented candidates who are great fits for their company, as identified by a company's own employees. ROIKOI focuses on helping growing companies keep a constant, relevant, high quality pool of candidates at the ready to fill any open job. Yes, the company is all about getting the best ROI from all the fish (KOI) in the (talent) pool. For more information, see
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