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Gather competitive intelligence on Pymetrics
Hello! Thanks for your question about competitive intelligence on Pymetrics. The most useful sources I found to answer your question are the European Patent Office and Owler. The short version is that the market opportunity assessment for Pymetrics is positive and there appears to be much interest in their recruitment solutions, although evidence to show the value of gamification for recruitment is currently limited. Although it was difficult to obtain a full list of Pymetrics clients, enough information was identified to provide an insight into the key sectors that are using Pymetric solutions. Below you will find a deep dive of my findings.
I have organized my findings into five sections:
1. Pymetrics patents
2. Existing clients
3. Relevant published studies
4. Top competitors
5. Market opportunity
FINDINGS
1. PYMETRICS PATENTS
After searching the European Patent Office and Google Patents with both the company name as well as both founders names, one patent was found.
Patent Name: Systems and methods for data-driven identification of talent
Paragraph [0004] of the patent provides a description of the computer program product that has computer-executable code adapted to implement a method that includes:
a) a talent identification system consisting of i) a task module; ii) a measurement module; iii) an assessment module; iv) an identification module indicating the career propensity based on trait assessments of the subject; and v) an output module for hiring officers that identifies candidate career propensity.
2. EXISTING CLIENTS
No precompiled lists of existing clients were available from Pymetrics or business profile databases such as Bloomberg, or customer review sites, but articles from trusted media sources indicated that over 60 companies use Pymetrics for recruitment and in 2015, Pymetrics had about 80,000 registered job seekers.
Some of their clients are Fortune 500 companies. Several companies were identified during the search, including
Many Higher Education institutions are using Pymetrics. On their website, 39 institutions were identified and through a search of customized landing pages, another 5 were identified, including LaGuardia Community College, Oregon State University, University of Oregon, Western Connecticut State University and Student Veterans of America Online Career Fair. Please note, not all of these institutions can be confirmed as paying customers.
3. RELEVANT PUBLISHED STUDIES
One recently published paper co-authored by one of Pymetrics founders, Frida Polli was identified. However, the article does not include a study that quantifies the value or impact of Pymetrics. The article provides a summary of how gamification can benefit the recruitment process. At best, it points to some evidence of gamification being used to successfully increase engagement and participation of existing employees.
Co-founder Julie Yoo has several articles published in peer-reviewed journals, but none of them are directly related to gamification and recruitment and offer no evidence to support the value or impact of Pymetrics solutions.
A recent white paper highlighted that empirical evidence for game-based neuro assessment is limited and that more research is needed to confirm the benefits.
Perhaps the most insightful finding in this section is the 25 short studies found in the Pymetrics patent. The studies were undertaken by Pymetrics to evaluate the reliability of the various modules/tools within the recruitment solution. These can be found from paragraph [0066] to [00156]. An example is the test for the Digit Span task at paragraph [0075] to [0077] which measures a "subject's working memory number storage capacity". The tool presents subjects with a series of numbers that they are asked to repeat back. A test with a sample of 23 participants found the reliability of the tool to be "acceptable" and a retest study with a "two-week interval between testing sessions" with 39 undergraduate students also showed the tool to be of "acceptable reliability."
4. TOP COMPETITORS
According to Owler, Pymetrics has 17 employees, $12.7m total funding and $4.6m revenue. Owler provided information on seven of Pymetrics closest competitors:
5. MARKET OPPORTUNITY
There are several indicators to assess the market opportunity for Pymetrics:
-The market for recruitment solutions, and in particular, neuro testing, has been stated to be about $30 billion.
- Randstad Innovation Fund (RIF) recently joined with Mercer, and Khosla Ventures to provide funding with the aim of accelerating development and pushing Pymetrics out into the market.
- Another indicator to assess the market opportunity for Pymetrics is their presence in media and industry articles and discussions. This can be gauged by the number of URLs that mention Pymetrics and provide backlinks to their site. This can be measured through the "Backlinks Checker Tool" platform. When I performed a search of Pymetrics, 2586 backlinks were found, indicating that there is a healthy interest in their recruitment solutions and they are being discussed in media and industry.
Finally, another indicator of opportunity can be found through large companies taking interest in this method of recruitment. Recently, the consumer goods giant, Unilever, began using mobile gaming for recruitment to deal with the volume of applications they receive (In 2015 they received 250,000 applications from graduates globally). Unilever are using Pymetrics mobile games to halve the time invested in the recruitment process.
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SUMMARY
To wrap it up, I have identified one Pymetrics patent, some existing Pymetrics clients, relevant studies on the reliability of Pymetrics' recruitment solution, their top seven competitors and a positive assessment of market opportunity.
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