NetNut Enters the AI Recruiting Market with New Leading Customer
Tel Aviv, Israel, Aug. 03, 2023 — Alarum Technologies Ltd. (www.alarum.io) (Nasdaq, TASE: ALAR) (“Alarum” or the “Company”), a global provider of enterprise and consumer internet access solutions, today announced that its Enterprise Internet Access arm, NetNut Ltd. (“NetNut”), has secured its first Artificial Intelligence (“AI”) recruitment market customer for its recently launched cloud-based digital technologies and analytics.
The client utilizes AI and machine learning to modernize and streamline background checks, promoting transparency, fairness and efficiency in the talent’s hiring process for a more equitable future of work.
NetNut provides a cloud service which allows its customers to collect data at large scales from multiple web sites and data sources around the world. With NetNut’s robust network, its customers can easily handle vast amounts of information on job candidates, employees and talents, and will be able to cross-reference data from a large number of databases, without the need to develop complex data collection solutions, thus freeing the vendor to focus on its business of recruitment.
According to an overview of the AI recruitment market, recently published by the Market Research Future in August 2023, titled “AI Recruitment Market Research Report“, the AI Recruitment market was valued at $540.4 million in 2022. According to the same source, the AI recruitment market industry is projected to grow from $590.5 million in 2023 to $942.3 million by 2030, exhibiting a compound annual growth rate of 6.9% during the forecast period between 2023 and 2030. According to the report, screening high-quality candidates from unlimited databases, improving time and efficiency, and decreasing overall spending in companies’ HR budgets are the main reasons driving this market’s growth.
“We are proud that one of the leading names in the recruiting industry has chosen to partner with NetNut. We believe that this collaboration reinforces NetNut’s position as one of the biggest brands in our sector in addition to highlighting our unwavering commitment to innovation and excellence. As we move forward, this collaboration will unlock new avenues for growth,” said Shachar Daniel, Chief Executive Officer of Alarum.
About Alarum Technologies Ltd.
Alarum Technologies Ltd. (Nasdaq, TASE: ALAR) is a global provider of internet access solutions. The Company operates in two distinct segments: solutions for enterprises and solutions for consumers.
The solutions by NetNut, our Enterprise Internet Access arm, are based on our world’s fastest and most advanced and secured hybrid proxy network, enabling our customers to collect data anonymously at any scale from any public sources over the web. Our network comprises both exit points based on our proprietary reflection technology and hundreds of servers located at our ISP partners around the world. The infrastructure is optimally designed to guarantee privacy, quality, stability, and the speed of the service.
Our Consumer Internet Access arm offers privacy and cybersecurity solutions to end users. These solutions are designed to allow users to take charge of their online privacy with a powerful, secured and encrypted connection. The solutions are designed for basic and advanced use cases, ensuring complete protection of personal and digital information.
For more information about Alarum and its internet access solutions for enterprises and consumers, please visit www.alarum.io.
This press release contains forward-looking statements within the meaning of the “safe harbor” Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Alarum is using forward-looking statements in this press release when it discusses the advantages and benefits of NetNut’s cloud-based data collection solution, its belief that this collaboration reinforces NetNut’s position as one of the biggest brands in its sector and the potential of the collaboration with the new customer to unlock new avenues for growth. Because such statements deal with future events and are based on Alarum’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Alarum could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Alarum’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 31, 2023, and in any subsequent filings with the SEC. Except as otherwise required by law, Alarum undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Alarum is not responsible for the contents of third-party websites.
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