January 18, 2022 – SeekOut has announced a $115 million series C funding round led by Tiger Global Management. The round values the Seattle-based company – an artificial intelligence-powered talent search engine – at more than $1.2 billion. “The Great Resignation remains top of mind for both employees and employers as we enter 2022,” said Matthew Merker, research manager, talent acquisition and strategy at IDC. “The way employees look for work opportunities has fundamentally changed, and employers need to rethink how they find new talent and retain existing talent. SeekOut’s data-driven Talent 360 platform offers organizations an advanced set of capabilities that help ease this transition and redefine enterprise talent optimization moving forward.”
Over the past year, SeekOut has doubled its customer count to more than 1,000 enterprises. SeekOut is a data-rich AI talent search engine that provides companies with untapped talent pools, diversity strategy and sourcing, data-driven recruiting solutions, and more.
“Today, most enterprises are flying blind when it comes to building and maintaining their workforces. Data is everywhere in the enterprise except where you need it most, informing the decisions about the people you need and the people you have,” said Anoop Gupta, Co-Founder and CEO at SeekOut. “With this financing round, we’ll be investing deeply in innovations that extend our leadership position in talent acquisition, and power new solutions for internal mobility, employee retention, career pathing, and learning and development.”
“It’s an exciting time to be in the people technology space as there’s a clear shift in the way companies are thinking about hiring and retaining talent,” said John Curtius, partner at Tiger Global Management. “SeekOut is at the forefront of this change, delivering a best-in-class solution for talent optimization that enables businesses to hire, grow and retain their workforce like never before. We are excited to partner with them as they continue to reshape the industry and provide companies with data, insights, and actions that drive results.”
SeekOut is currently hiring for sales, marketing, customer success, product, and engineering roles.
Here’s a look at some other recent funding deals secured by these companies from the Hunt Scanlon Media archives:
Hirewell, a Chicago-based talent acquisition firm, secured an investment of $21 million from Prytek, a global investment firm with expertise in integrating global services firms with cutting-edge technologies. Prytek will provide capital to enable Hirewell to accelerate its organic growth and integrate technology into its managed recruiting services. As part of this investment, Hirewell will acquire ICV, a Tel Aviv-based software company. “The talent acquisition space has evolved significantly over the past ten years, but technology has yet to truly disrupt the industry,” said Matt Massucci, founder and CEO of Hirewell. “Recruiters increasingly rely on multiple platforms, most of which don’t integrate or have limited functionality, and some of which actually compete with the recruiters they claim to support. The ability to combine best-in-class recruiters with cutting-edge technology will equip us to be the ideal recruiting partner for companies that are serious about finding top talent. We are thrilled to partner with Prytek to take that step and continue delivering powerful results to our clients.”
Worksome recently closed a $13 million Series A funding round for its freelance talent platform — after racking up 10x growth in revenue since January 2020, just before the COVID-19 pandemic sparked a remote working boom. Founded in 2017, Worksome is an enterprise platform that connects companies with freelancers looking for professional roles. The company helps medium and large companies, working with many freelancers at a time, filling vacancies within teams rather than assisting companies in outsourcing projects. According to Worksome CEO and co-founder Morten Petersen, most enterprises use managed service providers (MSPs) to manage and pay external workers. He said that they use “outdated technology that is not built for managing fluid workforces to handle complex compliance processes around hiring and managing freelance workforces.”
SeekOut, the AI-powered talent 360 platform, has received $65 million in series B funding led by Tiger Global Management, with participation from existing investors Madrona Venture Group and Mayfield. This capital raise brings SeekOut’s total funding to $73 million. This funding round values SeekOut at close to half a billion dollars. SeekOut’s growth and expansion has been driven by the critical role it plays in empowering talent acquisition teams to recruit hard-to-find and diverse talent. SeekOut has consistently received high scores and strong reviews in analyst and customer assessments.
GoodJob, a platform that aims to use psychology and data science to match workers with jobs, recently raised $3 million to increase marketing and sales efforts in major markets across the U.S. “GoodJob’s solution is ideal for today’s market,” said Stephen D. Johnston, CEO of GoodJob. “Prior to an interview and without introducing bias, employers can quickly assess a candidate’s fit on the front end of the hiring process,” said Mr. Johnston. “This approach allows companies to spend time only on candidates who have a high probability of success, which significantly impacts hiring efficiency, especially as companies move to no-touch hiring practices.”
Turing.com, which describes itself as an automated platform that enables companies to use and manage remote software developers, has assembled $32 million Series B funding. The capitalization round was led by $3.3 billion fund WestBridge Capital. The round includes a number of high-profile investors, including Foundation Capital, which led Turing’s seed round. Altair Capital, Mindset Ventures, Frontier Ventures and Gaingels also participated in the Series B round. Driven by the massive global shift to remote work due to the COVID-19 pandemic, Turing taps into a global pool of developers to help companies hire in markets such as the San Francisco Bay Area and New York, where it has been difficult and expensive to hire and retain software engineers.
The Mom Project, a talent marketplace, closed a $25 million series B funding round, bringing total funding at the Chicago-based company to $36 million. The Mom Project aims to connect women, including mothers, with employment opportunities. Its platform has amassed more than 275,000 users and more than 2,000 companies, including brands like Apple, Nike, Gap and BP. “Together we’ve proven that hiring, retaining and supporting moms and caregivers isn’t just a nice thing to do — it’s great for business,” said Allison Robinson, founder and CEO. “We’re in a unique moment in time where companies are embracing flexible work and prioritizing inclusion, and are excited to rapidly accelerate our efforts to unlock the potential of moms in the workplace. Our latest round of funding will help expand our Enterprise product suite, build out our mom community engagement strategy and engage with more small business customers.”
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media