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Monster last week completed the acquisition of Trovix, a Resume Search engine, for $72.5 million in cash. Trovix was backed by 3i, Granite Ventures and U.S. Venture Partners and had raised a total of $18.25 million in venture funding.
Trovix implemented an artificially intelligent algorithm to analyze job requirements and candidate resumes and matched them to generate ranks (see an elaboration of Trovix search technology here). The company also introduced a job board in 2007, where standard jobs and resumes could be posted. This was some sort of an encroachment onto Monster’s territory.
So Monster was left with two choices, either to build its own artificially intelligent resume matching and searching technology or buy Trovix outright. Needless to mention that they decided to go for the later.
Trovix customers included Palm, Salesforce, Stanford University, Hallmark, Linksys, VM Ware and Trend Micro among others.
