Bullhorn Ventures Makes Investment in Staffing Engine
September 19, 2023 – Bullhorn Ventures has made a strategic investment in Boulder, CO-based Staffing Engine. Financial terms of the funding was not disclosed. The investment aims to accelerate the adoption of the next generation of conversational and generative AI within Bullhorn’s customer base, transforming the recruiting experience, and heralding a new era of efficiency and innovation. “We are incredibly excited for our customers to have access to Staffing Engine’s suite of AI acceleration tools,” said Jason Heilman, senior vice president, product – automation and AI at Bullhorn. “Their ability to deeply configure tools to meet even the most creative or complex use cases will create real differentiation for our customers.”
“What staffing executives need to understand about AI is that, while it will contribute to growth over time, right now it’s about significantly improving your gross margin,” said Ted Guggenheim, co-founder and CEO at Staffing Engine. “That’s a huge deal in this environment.”
Staffing Engine, a provider of AI-powered recruiting solutions, has fully integrated its Recruiting Acceleration AI with Bullhorn, and its partner ecosystem. Staffing Engine’s platforms allows recruiting firms to increase productivity, operate 24/7, and accelerate growth, the company said. The Engine AI suite of products allows staffing firms to leverage the next generation of AI to make their recruiters and sales reps more productive, increase lead conversion, and create an on-demand experience for their candidates and clients.
Mr. Guggenheim is a C-level executive/entrepreneur, with experience building companies from inception to sale in both the technology and music industries. His experience includes growing early-stage start-ups, application design and development, VoIP services, CRM integrations, and text messaging software.
The investment will be used to expand Staffing Engine’s team to meet customer demand and fuel the research and development of next-generation AI products, specifically designed for the Bullhorn ecosystem.
Related: Bullhorn Names AI Business Unit Leader
Bullhorn Ventures invests in early stage software companies with the potential to deliver unique value to third party staffing and recruiting firms. The firm backs teams who are building differentiated products in our market, and who share in the mission to help staffing firms digitize, automate, and empower. Over the past few years, Bullhorn has acquired over a dozen software companies that provide solutions to the staffing and recruitment industry.
Venture Outfits Growing
Workday, a provider of finance and human resources solutions, recently has announced a $250 million expansion of its Workday Ventures fund. The additional investment capital from Workday into Workday Ventures, the strategic capital arm of Workday Inc., builds on the company’s solid performance.
“This additional investment capital into Workday Ventures is reflective of our continued commitment to serving our customers, helping them not only adapt but thrive and lead the future of work,” said Pete Schlampp, chief marketing officer and executive vice president of corporate growth at Workday. “We partner with pioneering technology companies that are closely aligned with our values such as innovation, integrity, and customer service, and we are laser-focused on supporting customers, entrepreneurs, and changemakers that help redefine our industry.
“As a Workday Ventures portfolio company, Auditoria integrates with Workday Financial Management to deliver intelligent supplier automation, freeing suppliers and buyers from manual work, eliminating repetitive work, and speeding up the entire cycle,” said Rohit Gupta, co-founder and CEO of Auditoria. “Partnering with Workday has enabled us to bring transformative solutions, powered by artificial intelligence, machine learning, and natural language technology, to finance teams, enabling them to move faster and accomplish more through intelligent automation at scale. The investment and partnership with Workday have allowed us to partner with CFOs to optimize and transform their operations.”
This additional investment expands on Workday Ventures’ existing portfolio of 43 technology companies since the initial $250 million fund was announced in 2018.
Related: Bullhorn Acquires London-Based Search Firm
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media
