The ‘Great Resignation’ has put a lot of pressure on recruitment teams to get creative about how to successfully attract new workers and fill their vacancies.
San Francisco-based Sense believes it has the answer with its platform that relies on artificial intelligence (AI) and automation to drive efficiencies in the hiring process, without sacrificing personalization and the human element of recruitment.
SoftBank agrees since it has just invested $50 million in a Series D round for Sense through its Vision Fund 2. This fund has also invested in other HR tech startups, including Whatfix, Eightfold and Beisen.
Softbank Investment Advisers managing partner Munish Varma noted: “We have tracked Sense’s growth and product innovation amid one of the most transformative years in the talent landscape.
“Powered by AI, the Sense platform aims to help companies manage the entire talent lifecycle which is of utmost importance in today’s competitive environment.”
This Series D comes within six months of a $16 million Series C and brings Sense’s total funding to $90 million.
Sense has had a stellar year. It now has 600 customers, including Adecco, Kindred Healthcare and Dell, its revenue and headcount doubled and its enterprise deal size deal grew by 70%.
Sense claims to have driven a 263% increase in candidates screened, a 55% higher response rate from candidates and to save up to 80 hours of recruiter time.
The future of Sense
Talking about the round, Sense CEO Anil Dharni wrote in a statement: “Sense’s founding mission to equip companies to engage with best-fit talent both quickly and effectively is more important than ever.
“Our latest funding is not only validation of the need for personalized talent engagement in today’s candidate-centric world but is also an accelerant for our platform globally as we help reshape the future of work.”
Dharni continued in a blogpost to explain that product innovation is key to the future of Sense.
As a result of this funding, the company is now going to focus on developing its conversational AI recruiting tools, preference-based job matching tech with the help of machine learning, as well as helping organizations to de-bias their hiring process.
The funding will also help Sense to grow internationally in both India and Western Europe.
SoftBank Investment Advisers head of India and partner Sumer Juneja concluded: “We believe the critical nature of the Sense platform in enabling enterprise customers to find and hire quality talent faster has been clear.
“As it expands both nationally and globally, we have no doubt in their ability to positively transform how companies build great teams and compete.”