March 31, 2022 – Los Altos, CA-based SucceedSmart has launched the general availability of its executive search platform, providing executives with a powerful “candidate-first” approach, said the company. “Founded by serial entrepreneur and RiseSmart founder Sanjay Sathe, SucceedSmart is poised to change the way executives maneuver to the forefront of their respective fields,” said the firm. “Similar to the way Robinhood democratized investing, SucceedSmart delivers a modern, digital approach to executive search while also prioritizing diversity in leadership. Executives no longer need to look for career progression paths since SucceedSmart brings exciting opportunities to executives directly from the hiring managers at Fortune 500 corporations and fast-paced start-ups.”
The traditional executive search market, which has dominated executive hiring for decades, is “extremely transactional, exclusionary, and clubby by nature,” said Mr. Sathe. “Not only is the pricing exorbitant, but in most cases, corporations pay the majority of the fees upfront, regardless of whether the traditional executive search firm even places a candidate,” he said.
SucceedSmart raised $6 million in seed funding led by Storm Ventures, several global business leaders, and established angel investors. Former executives from Korn Ferry, Egon Zehnder, LinkedIn Recruiter, and Hg Capital, among others, have joined the company’s advisory board. SucceedSmart said it has benefited from strong early traction, securing, and delivering on leadership searches from Fortune 500 corporations and venture-backed start-ups. One example the company provided: SucceedSmart recently filled the role of senior director of diversity and inclusion at TaskUs in just 35 days.
Over 76 percent of job seekers say they prioritize a diverse workforce when evaluating companies and potential job offers, said SucceedSmart. By focusing on a candidate’s accomplishments and competencies, the company’s platform erases traditional hiring biases, fulfilling the diversity mission of both companies and members.
“SucceedSmart’s unique double-sided platform encourages and empowers hiring managers and executives by employing a proprietary algorithm that leverages the time-tested approach of many dating platforms – it’s effectively the ‘Bumble’ for executive search,” said the company.
Committed to diversity, equity, and inclusion, SucceedSmart said it prioritizes privacy and gives executives complete control over which organizations can view their profile. Unlike traditional job boards and outdated recruiting methods, the firm said it removes inefficiencies and inflated costs while offering a lifelong professional network that embraces transparency and diversity.
The platform’s benefits for executives include an upscale and dedicated network of curated and accomplished executive peers at the director level and above, said SucceedSmart. AI, meanwhile, matches executive profiles with career-defining leadership positions. “Hiring managers reach out with opportunities directly to executives,” said the company. “Once an executive decides to ‘like back,’ their complete profile is unlocked and shared with the hiring managers.”
Other benefits for leaders include the ability to build a unique portfolio of services and content, providing executives with a holistic experience that includes executive coaching (e.g., resume enhancement, profile completion, interview preparation, and guidance throughout every opportunity of interest), personal branding, mentoring opportunities, reputation management, webinars, and other custom content.
A Range of Benefits
After gaining employment through the platform, members choose between a $10,000 success bonus, a $10,000 donation to the charity of their choice, or 100 days of executive coaching commencing on the start date of a new job. Existing members who refer new members to the platform who later land a job through SucceedSmart will earn a $2,500 referral bonus.
Benefits for corporations include access to future-ready leaders who are passively and actively looking for career-defining roles. Another plus is the power of video, “which brings out each member’s true personality, allows hiring managers to quickly and confidently assess each member’s executive presence, passion, and cultural fit,” said SucceedSmart.
Businesses also have access to a platform that is “laser-focused on diversity.” Each executive’s profile remains free of personally identifiable information, leaving a decision to match with an executive based solely on accomplishments, thereby removing any bias.
Corporations pay a flat $40,000 success fee only when a director-level or above executive is hired through the platform, along with a nominal SaaS fee of $500 per month per user.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media