May 17, 2019 – 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.
“Because of the competitive nature of tech, it is often challenging for recruiters to find people who both have the right skills the company needs and are ready to pursue a new job opportunity,” said humanpredictions. “Once they have identified people of interest, recruiters may struggle to start the conversation in terms that prospects will respond to.”
To address those concerns, humanpredictions provides organized data-search tools and gathers public data to create profiles of people in the tech industry, specifically technology leaders, software engineers, DevOps, data science, product, iOS/android, designers/UI/UX and QA. The platform then uses machine learning to predict which individuals are more likely to leave their current roles. In addition, humanpredictions facilitates the conversation with people by indicating when and how to reach out. By accessing these insights, recruiters can better target their outreach, find the right matches more easily and improve the flow of the interviewing process.
“As the only recruiting product built exclusively for the tech industry, humanpredictions is tailor-made for companies looking to recruit for tech roles,” said Elliott Garms, co-founder of humanpredictions. “We know software engineers are often skeptical of recruiters, so we want to help employers and recruiting firms build relationships with people over time. With this capital, we’ll be able to grow our team so that you can help grow yours.”
“We are excited to be able to help humanpredictions grow its offering and further build its 44-million-person database,” said Jeff Maters, founder and managing director of Network Ventures. “With its powerful insights and deep understanding of recruiters’ needs, the product is already adding significant benefits to the tech recruiting process for a spectrum of major companies.”
This announcement comes shortly after major growth for humanpredictions. The company is approaching $1 million in annual recurring revenue, and its product has been adopted by industry-leading companies, including Trunk Club, Allstate, and Emerson, among others.
Investors are pouring money into recruiting solutions businesses, especially those with an AI component. Here’s a look at some recent funding deals secured by these companies from the Hunt Scanlon Media archives:
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. The funds will be used to accelerate the company’s growth in new market verticals and to create features that further differentiate its product offering.
Tel Aviv-based HR tech platform Hibob has secured $20 million in funding from existing investors Bessemer Venture Partners, Battery Ventures, Eight Roads, Arbor Ventures and Presidio Ventures. Supporting the company’s mission to transform HR to reflect the changing nature of the workplace and workforce, the expanded investments will drive the next phase of Hibob’s growth…
Jobcase, a self-described open access platform for job seekers and employers, has secured $100 million in a growth equity round led by Providence Strategic Growth. This brings the Boston start-up’s total funds raised to $118.9 million. The new funding will accelerate product development and services for Jobcasers (Jobcase members) via internal growth and/or strategic acquisitions.
San Francisco-headquartered human cloud platform Jyve secured $35 million in funding led by SignalFire and joined by Crosscut Ventures and Ridge Ventures. Jyve’s platform, which it calls “Skills-as-a-Service,” uses machine learning to source and identify certified, skilled talent. Jyve’s focus is on providing companies with flexible labor.
CareerArc, a global leader in HR technology, raised a $30 million growth equity round led by PeakEquity Partners. This investment and the support of the team at PeakEquity Partners should allow us to accelerate our growth, expand product offerings and strengthen our market position,” said Robin Richards, co-founder and CEO of CareerArc.
France-based Talentsoft, a cloud-based human resource software solutions provider for talent management learning, has raised $50 million in a financing round which it says will boost continued growth via innovation and international market expansion. Talentsoft is focused on optimizing the employee experience while taking into account the cultural, linguistic and regulatory specificities of HR management in Europe.
pymetrics, an enterprise SaaS company that uses neuroscience and AI to make the recruitment process more effective, has closed a $40 million Series B funding round. pymetrics utilizes neuroscience and AI to assess job applicants across a range of cognitive, social and emotional traits and algorithmically recommend the best-suited candidates to companies.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Andrew W. Mitchell, Managing Editor – Hunt Scanlon Media