Teamable, which provides recruiting software for organizations, closed a $5 million Series A funding to help the companies scale and optimize referral hiring and diversity initiates. This was led by venture capital firm True Ventures.
As published in VentureBeat, “The last three years, recruiters have seen a rise in technologies being brought to market that help optimize workflows and create systems of record in HR,” wrote Teamable co-founder and CEO Laura Bilazarian, in an email to VentureBeat. “The next logical step is for recruiters to tap into machine learning and social networks to improve recruiting and HR.”
Teamable is a new employee referral and diversity hiring engine that transforms social networks into high-performance talent pools. Teamable scales and optimizes referral programs and diversity initiatives by replacing spreadsheet-based approaches with intuitive search and cloud-based, mobile-friendly referral flows.
Teamable list of users include; Lyft, Stripe, UBER, BAI, Affirm, iHeartRadio, Coinbase and more. Teamable boasts an average response rate form candidates of 80%. They have a mobile app, and as stated the premise is to leverage your current employee’s connections. According to Teamable, they can double your referral hires as well as increase diversity hiring.
“What sets Teamable apart is that our smart algorithms surface candidates based on the unique qualities and needs of each company, rather than keyword searches that yield candidate pools that are too general to be useful to recruiters,” she wrote to VentureBeat.
Teamable boasts 36 employees mostly in the Bay Area and are led by Bilazarian, cofounder Vazgen Hakobjanyan, founder/VP of product Meruzhan Danielyan, and cofounder and chief architect Hovhannes Nurijanyan.
“Teamable has tapped into the most effective channel of high-quality hires: the referral,” said Tony Conrad, a partner at True Ventures. “Companies that engage top-tier talent have the ultimate advantage, and Teamable is uniquely positioned to help them leverage referral hiring to do just that. We’re excited to help this company scale and bring their technology to recruiters and talent managers.”
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AI and Automation: How They Will Impact the Future of Recruiting?
Beamery, which provides software to help companies better target their hiring process, announced yesterday a new round of $5 million, led by Index Ventures. The company has also announced that its customers include some of the world’s biggest tech companies, retailers and consumer businesses including Facebook, Dropbox, Criteo, Github, and VMware, as well as House of Fraser, Shop Direct, and Dennis Publishing.
“Think of it like Salesforce and Marketo for recruitment,” wrote Beamery’s CEO, Abakar Saidov, in an email published to VentureBeat.
“Talent and HR used to be cost centers, necessary evils rather than unique advantages. In the modern economy, companies are starting to recognize that creating a world-class talent function is one of most important differentiators to their success. Beamery transforms how businesses interact with talent, and is a primary system of record for this relationship,” Saidov added in in the Index Ventures press release.
The London-based startup is transforming talent acquisition in a world in which the best candidates are scarce and hiring the right people is business critical. Simply stated, Beamery combines elements of customer relationship management (CRM) and marketing software with artificial intelligence (AI). Through this model, Beamery turns recruiting from a reactive to a proactive function focused on continuous relationship building with top candidates.
With the new funding, Beamery plans on doubling the size of its growing staff, as they are planning on opening a new office in San Francisco, California.