Amid the ‘Great Resignation’, talent acquisition has dramatically moved up the priority list for many companies. And HR tech has been on hand to help.
The company launched its product in 2020 and, just two years later, it has raised $30 million in its Series B investment, bringing its total funding to $37.3 million.
Top investors of the round include Four Rivers and Quarry Capital Management. Wing Venture Capital continued its support in this second round of investments.
This round of funding comes on the back of 500% costumer growth in the past two years. The company is a data-driven approach to solve talent acquisition problems. Findem claims to have caused an 80% decrease in the time-to-hire processes of its customers, which includes leading companies such as Google and Adobe.
Google VP and CEO talent advisor Jeff Markowitz commented: “Findem’s platform has been very helpful to my team in identifying executives we may not already know, and have relevance for specific leadership needs at Google.
“We are excited to be using their platform and seeing how it continues to grow.”
Findem’s system uses AI and contextual logic to accentuate candidates’ relevance for a given position. It achieves this through enriching candidate profiles, revealing more in-depth analysis of a particular potential employee. Profiles are designed to highlight employee attributes and skills, rather than keywords.
Talent recruiters can use the system to filter specific employee qualifications such as whether an individual builds diverse teams or is a long-tenured employee.
Additionally, companies can track their company recruitment and diversity progress through Findem’s analytical measurement tools, eliminating the outdated use of spreadsheets and manual tracking programs.
Farouk Ladha, general manager of Four Rivers, explained its commitment to the company: “The talent war is raging right now, and companies can’t hire fast enough, and Findem’s technology is the secret weapon to help recruiters find those prime candidates that competitors simply can’t.”
Quarry general partner Danny Wen added: ““Findem stands out in the HR technology space for having a vision of what AI-driven recruitment can truly accomplish, combined with the innovative technology to make it happen.”
What’s next for Findem
With the new funds, the company’s top priority is expanding internationally to meet the needs of organizations outside the US.
Findem also expects to increase its product development advancements, including launching a new self-service model which is designed to allow users to post positions on a job board and receive targeted candidate pipeline.
Hari Kolam, Findem CEO, said: “This funding will be an accelerant for our next stage of growth as we continue to reshape the future of sourcing, recruiting, and hiring and drive innovation in the [more than] $450 billion staffing industry market.”