March 20, 2020 – Investors are pouring money into recruiting solutions businesses, especially those with an artificial intelligence component. Just recently, Mya Systems, a conversational AI platform for hiring teams, announced that it has secured $18.75 million in Series C funding.
The funding was led by Notion Capital with participation from earlier investors, Emergence Capital and Foundation Capital as well as Cisco Investments and Workday Ventures. Over the past year, Mya Systems gained tremendous momentum, seeing three times customer subscription growth in 2019 alone. Mya now supports over 460 brands, six of the eight largest recruiting firm, and 29 of the Fortune 100. Customers include industry leaders such as Hays, Adecco, L’Oreal, Deloitte and Anheuser Busch.
Mya has helped customers automate the sourcing process with 10 times greater engagement, deeply screen and qualify 90 percent of applicants, and has scheduled over 400,000 interviews with qualified and interested candidates.
As Mya continues to establish itself as the leader in the AI recruiting space globally, this investment from one of Europe’s leading enterprise SaaS investors, Notion Capital, one of the leading HRIS and ATS providers, Workday and technology leader, Cisco, will allow Mya to further expand on its success in the coming years.
“We have seen increased demand from staffing businesses and corporations looking to transform their recruiting process through the use of conversational user experiences,” said Eyal Grayevsky, founder and CEO of Mya Systems. “This funding allows Mya to accelerate its mission to create a far more efficient and equitable job market powered by AI.”
“While hiring is slowing down in some industries given the current crisis, we are seeing large spikes in demand from customers in healthcare, e-commerce, light industrial, call center, logistics, supply chain, and other industries that have urgent, high volume hiring needs,” he said. “Mya is uniquely positioned to support those industries that need to scale recruitment due to COVID-19 and our team is squarely focused on helping our customers meet those shifting market demands.”
“Mya’s mission is incredibly inspiring and impossible to ignore,” said Itxaso del Palacio at Notion Capital. “This blend of interconnectivity and communication is the future of recruiting, and we’re excited to now be a part of building toward that vision. Mya’s AI recruiting platform has shown tremendous early success in Europe, and with the breakthrough technology they are offering, is by far the best positioned company to make a major impact on this market.”
Notion Capital is a venture capital firm with more than $500 million assets under management, investing in European SaaS and enterprise technology, with more than 60 investments to date. The Notion team founded, built and exited two highly successful SaaS businesses — Star and MessageLabs – and invests exclusively in enterprise tech and SaaS with the ambition to build global category leaders. The Notion portfolio includes Brightpearl, Currencycloud, GoCardless, Mews Systems, Paddle, Topia, Tradeshift, Unbabel, Tradeshift, Triptease and Workable.
Here’s a look at some recent funding deals secured by these companies from the Hunt Scanlon Media archives:
Headstart, a platform that leverages data science to help companies reduce unconscious bias in the hiring process, raised $7 million in funding led by AI-focused Silicon Valley venture capital firm FoundersX, with participation from Founders Factory. Launched in 2017, Headstart is one of a growing number of start-ups promising to help companies increase their diversity during recruitment drives. This is achieved through combining machine learning with myriad data sources to find the best candidates based on specific objective criteria.
Checkr has announced a $160 million round of funding at a valuation of $2.2 billion. The equity round was led by funds and accounts advised by T. Rowe Price Associates, joined by Bond, Coatue, and long-time investors Accel, Y Combinator and IVP. This round is in addition to the $150 million previously raised.
Jobble, an on-demand marketplace and management platform that connects companies to the 60 million U.S. gig economy workers, has raised $11 million in new Series A funding, led by Vestigo Ventures and AXA Venture Partners with participation from Guardian Strategic Ventures and Harlem Capital Partners.
Enboarder, the cloud-based HR technology company that helps employers create employee onboarding experiences, has closed $8 million in Series A financing. Greycroft, who participated in Enboarder’s previous funding round of $4 million, is the lead investor in the new Series A investment, which brings Enboarder’s total funding to $12 million.
Talent acquisition platform SmartRecruiters has raised a $50 million series D round, led by repeat investor Insight Partners and joined by long-time investors Mayfield and Rembrandt Venture Partners. The round follows a year marked by strong performance, including 100 percent year-over-year enterprise growth and the launch of SmartAssistant…
humanpredictions, a machine learning technology company, has received a $1.16 million funding round led by Network Ventures with additional investment from Hyde Park Angels, SaaS Ventures and M25. The new capital is targeted to help humanpredictions further grow and invest in its team of engineers and data scientists.
Hireology, a Chicago-based recruitment management platform, closed $27 million in series D financing led by Blue Cloud Ventures, with full participation from current investors Bain Capital Ventures and Baird Venture Partners, as well as Silicon Valley Bank.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media