AI-Powered Recruiting Startup TopFunnel Announces Acquisition of Referral-Based Company Teamable to Offer End-to-End Sourcing Platform
TopFunnel, the AI-powered recruiting startup that high-growth companies use to scale, announced the acquisition of Teamable to supercharge referral-based recruiting. Teamable is the employee referral platform that transforms social networks into high-performance talent pools.
“We’ve long admired what Teamable has made possible for employee-based recruiting. And in talking with the team, it was immediately clear that we share an aligned worldview when it comes to taking the work out of recruiting so that companies can actually focus on building great products and strong teams,” said Justin Palmer, founder and CEO of TopFunnel. “Teamable’s technology is really complementary, enhances our ability to deliver on our promise to customers, so we’re excited to join forces to take our platform to the next level.”
Since TopFunnel was founded in 2017 to empower both recruiters and employees through the talent acquisition process, it has rapidly become the secret weapon that high-growth companies like Plaid, Rubrik, Noom, and InVision have relied on to scale their teams. TopFunnel’s AI-driven approach automates much of the recruiting process, helping to source the right candidates for the right roles — and send them the right message. Similarly, Teamable’s referral software aggregates employees’ contacts from their social and professional networks to provide recruiters with a more focused group of potential candidates. The combined platform will help deliver even better recruiting recommendations, and each product will also continue to be available on a standalone basis.
“TopFunnel has been an integral part of our success at InVision,” said Hope Weatherford, Head of Talent Attraction at InVision, the digital product design platform used to make the world’s best customer experiences. “At the end of the day, companies are defined by their people, and TopFunnel has given us a huge edge in finding the right talent, getting them the right messages — and saving our team time. We’re really excited that they are joining forces with Teamable, a milestone that is further evidence of their commitment to strengthening their platform across every aspect of candidate sourcing.”
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Only an estimated 5 percent of qualified candidates are actively looking for their next job. This creates a lot of work around the work of building a team, and most people charged with hiring find themselves spending the majority of their time on administrative tasks like searching, emailing and scheduling. To get through it all, they resort to sending form emails that show little understanding or appreciation for a candidates’ experience, which ends up widening the gap between prospective employers and candidates. Artificial intelligence is a natural fit to address that gap and offload some of the manual tasks to help create great connections. While other smart solutions have fallen short because they aren’t quite smart enough to take on the end-to-end workflow, TopFunnel has remained laser-focused on building the best AI-powered sourcing platform, which has helped hundreds of companies hire thousands of people.
“As joined forces, we can offer solutions that no one else can offer in the market,” said Meruzh Danielyan, who founded Teamable and now joins TopFunnel as COO. “Teamable will continue its mission of connecting people to work they love, and now we are able to extend beyond referrals — helping companies to manage everything from outbound efforts to inbounds and scheduling. Moreover, our professional services team will be able to help with planning, sourcing and even candidate screening if necessary. We couldn’t be more thrilled.”
The addition of Teamable follows TopFunnel’s previous acquisition of Clara Labs, an AI-powered virtual assistant that helps recruitment teams ensure that potential candidates have a great experience, get time on the calendar, and speed up time to hire.
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