Criteria Corporation Announces Majority Growth Investment
Criteria Corp, a market leading SaaS based employment analytics platform, announced that Sumeru Equity Partners (SEP) has made a $56 million strategic investment to accelerate product innovation and growth. This is the second investment out of Sumeru Equity Partners Fund III. The growth of the pre-employment testing and analytics market has been driven by employers’ increased awareness of the high costs of turnover and unproductive hires. Employers are now relying on the use of evidence-based tools to help them make high stakes hiring decisions, and Criteria’s employment assessments have been shown to increase hiring success rates by an average of 52% and reduce turnover by 20-50%.
Original Source: BusinessWire
Deepfakes are getting better and better.
According to Wired, “Last week, Mona Lisa smiled. A big, wide smile, followed by what appeared to be a laugh and the silent mouthing of words that could only be an answer to the mystery that had beguiled her viewers for centuries.” Deepfakes are more serious than any other 1st Amendment issue and are the harbingers of the post-truth, post-trust, post-privacy era. The subject deserves your undivided attention. When deepfakes are as simple to make as applying an Instagram filter (which is inevitable), there will be no way to tell fantasy from reality. You literally will not be able to trust your eyes or your ears.
Original Source: Shelly Palmer
ENGAGE Talent Raises $3.5M to Accelerate Innovation & Scaling of AI Tech
ENGAGE Talent has raised $3.5 million to accelerate the innovation and scaling of its groundbreaking AI Talent Intelligence technology that powers both the recruitment and retention of key talent. High Alpha Capital and Grand Ventures led the raise, with participation from other existing investors, new strategic investor Engage venture fund, and Silicon Valley Bank. The funds come from a mix of equity and debt. With this recent raise, the total investment in the company has reached $10M. ENGAGE Talent listens to more than 30,000 data sources and processes more than a billion data points monthly to map and predict people movement–empowering it to provide unrivaled talent acquisition and retention insights and recommendations. Customers like Allstate, Dell, Transamerica, and Harris Healthcare experience quantifiable improvements, such as 200 to 700 percent increases in candidate engagement rates.
Original Source: PRWeb
Fiverr International files for a $100 million IPO
Fiverr International, an online marketplace to hire and manage remote freelancers, filed on Thursday with the SEC to raise up to $100 million in an initial public offering. The Tel Aviv, Israel-based company was founded in 2010 and booked $83 million in sales for the 12 months ended March 31, 2019. It plans to list on the NYSE under the symbol FVRR. J.P. Morgan, Citi, BofA Merrill Lynch and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed.
Original Source: Renaissance Capital
Indeed and Goodwill: Helping Both Sides of Hiring
The mission of global nonprofit Goodwill Industries International is to help people find jobs, change their lives and improve their communities. This so closely aligns with Indeed’s mission — helping people find jobs — that the two organizations have just announced a strategic collaboration. Indeed has committed to helping 1 million job seekers around the world find employment by 2024, with Goodwill organizations in the U.S. and Canada partnering in the initiative.
Original Source: Indeed Blog
Monster is putting its media dollars back into TV after a decade
The company, which was one of the original dot coms, took a decade off of doing top of the funnel brand advertising. During that time, as competitors like Indeed and ZipRecruiter cropped up, Monster lost its place as the dominant job search brand. Now, as the company is working to win back that top slot and win over younger consumers, it is allocating between 10% and 20% of its media dollars back to traditional advertising. In 2018, Monster spent $12.9 million on media, per Kantar Media. Monster CMO John Beamer declined to share what Monster’s marketing budget is and said that external media reporting would be inaccurate, as they typically track only traditional advertising.
Original Source: Digiday
SeekOut Announces $6 Million in Series A Funding
SeekOut announced Series A funding of $6 million led by Madrona Venture Group, with participation from existing investor Mayfield. As the world becomes increasingly digital, companies in every industry have an urgent need to find tech talent to thrive. SeekOut offers companies a competitive edge in hiring tech talent and to support their diversity goals. Launched in early 2018, the company has quickly gained ground with more than 75 enterprise customers spanning multiple industries, including technology, defense, finance, pharma, consumer packaged goods, food & beverage. Recruiters who limit themselves to traditional talent pools miss out on millions of quality, untapped candidates. SeekOut significantly expands the talent pool available by scouring public data and using natural-language (NLP) and machine-learning (ML) technologies to understand the expertise of each candidate and build a complete 360-degree view of each potential employee.
Original source: BusinessWire
Tiger Global backs another Seattle startup
As partners from top tech investment firm Tiger Global Management attended recent board meetings, they kept hearing about a small startup out of Seattle that was helping executives hire engineers. The company is Karat, a Seattle startup that has quietly spent the past few years conducting thousands of first-round technical interviews for customers such as Pinterest, Compass, Indeed, and others. Tiger Global spotted a trend, and now the firm is pouncing. It’s leading a fresh $28 million investment round in Karat, which also reeled in cash from Norwest Venture Partners and 8VC as part of the Series B round announced Wednesday. Tiger Global has backed giant hiring-related companies such as LinkedIn and Workday, so its bet on Karat is worth noting.
Original Source: GeekWire