Hiretual, the AI-driven technology company and a recruiter’s best friend, today announced a $5 million Series A funding round led by Northern Light Venture Capital, bringing the company’s total funding to date to $6.5 million. Founded in April 2015, Hiretual has been quietly building and scaling its technology, which is already in use by more than 80K recruiters from more than 200 companies, including globally recognized Fortune 500 brands. Hiretual will leverage the new funding to accelerate growth and scale its operations and AI-powered HR technology.
“Since the birth of the World Wide Web in 1991, a new hiring tool has emerged every few years: Monster.com, a searchable professional directory appeared in the market in 1994, and was followed in 2002 by LinkedIn, a professional network that helped find people you already know. Hiretual is an AI-first company that prioritizes making data more intelligent and ‘recruitable’, creating an entirely different and highly targeted recruitment tool,” said Steven Jiang,CEO and co-founder of Hiretual. “Searching on a traditional sourcing platform might list 6,000 software engineers in response to a search. Hiretual drills deeper and identifies candidates with the most relevant skills and experience –saving recruiters dozens of sourcing and recruiting work hours on every new hire.”
Glassdoor reports the number one obstacle in the hiring process is a shortage of candidates, while GetAppLab’s 2017 survey revealed that more than 40 percent of recruiters report the biggest challenge they face is a shortage of candidates. Hiretual addresses this challenge by unleashing the power of the unstructured internet to create a candidate sourcing base that is much larger (700M) than current sourcing platforms such as LinkedIn (562M) or Indeed (200M).Hiretual’s AI-powered search functionality goes beyond Boolean and keyword search to tap into the ‘dark matter’ of undiscovered talent and professional data on the web – turning the internet into a recruiter’s database. Hiretual also seamlessly integrates with a recruiter’s existing ATS (Applicant TrackingSystem) and CRM (Candidate Relationship Management), to refresh, enrich and re-discover candidate data.
How Hiretual Works
Hiretual’s AI-powered platform converts unstructured data from more than 700M profiles across 30+ platforms and the open web into rich, holistic professional profiles. Using this data, Hiretual ranks candidates by how well they match the requirements of a job, and automatically adjusts rankings for the next round of candidates based on user interactions – creating a Proactive Talent Pipeline that grows more precise over time. As a result, recruiters engage the strongest candidates first, improve hiring conversion rates, and save dozens of hours on every hire. Hiretual also provides candidate contact information, email automation, and tracking to make the next step instant and measurable. Recruiters can easily keep track of their talent pipeline using projects, hiring stages, and also invite team members or hiring managers to participate in candidate selection.
“We see Hiretual as the next innovative leap for recruiters, an enterprise-grade, professional, AI-driven tool that proactively matches the best candidates to the right position up to 10 times faster than the status quo,” said Lei Yang, Managing Director, Northern Light Venture Capital and new Hiretual board member. “The tremendous growth experienced by Hiretual over the course of less than a year very clearly validates the market demand for AI-powered HR technology.”
AI-driven technology company, Hiretual is a Proactive Talent Pipeline and a recruiter’s best friend. Powered by a proprietary AI-matching engine, Hiretual enables recruiters to source and engage the strongest and most relevant candidates with the right skill sets up to 10 times faster, significantly reducing time to hire. Hiretual’s AI-powered platform converts unstructured data from more than 700M profiles across 30+ platforms and the open web into rich, holistic professional profiles. Using this data, Hiretual ranks candidates by how well they match the requirements of a job, and automatically adjusts rankings for the next round of candidates based on user input – creating a Proactive Talent Pipeline that grows more precise over time.
Currently trusted and used by more than 80K recruiters from more than 200 companies including Fortune 500 and globally recognized brands, Hiretual is a privately held company headquartered in Mountain View, California and backed by Northern Light Venture Capital. Follow us on Facebook, Twitter and LinkedIn