HireLogic Raises $4 Million Seed Funding to Modernize Interview Processes and Improve Hiring Decisions with AI Assistance
HireLogic, an artificial intelligence (AI) powered human resources technology software firm that improves interview processes, has raised $4 Million in seed funding. Several prominent individual investors participated in the round, including Edward J. Zander, former chief executive officer and chairman of the board of Motorola, Mike Pehl, partner at Guidepost Growth Equity and former president of Razorfish, and Ann Fandozzi, chief executive officer of Ritchie Bros.
HireLogic will utilize the funds to continue expansion of its platform’s capabilities, including applied machine learning, integration to video conferencing platforms and applicant tracking systems (ATS), and establish go to market activities based on a product led growth (PLG) model. HireLogic’s leadership team consists of enterprise software veterans from SAP, Oracle, and TIBCO, and veteran executive recruiters from CTPartners, who have developed a unique platform built to help busy human resources departments and hiring managers adapt to modern staffing challenges.
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“There are over 30 million interviews taking place monthly, or 1 million interviews a day, and many of them are happening virtually,” said Anirban Chakrabarti, chief executive officer of HireLogic. “Our mission at HireLogic is simple: to improve the experience of these interviews, and help organizations gain insights from interview data to make faster, better hiring decisions.”
The hiring landscape is more competitive than ever before. Yet, Accenture and Harvard Business School found that over 88% of employers feel that they screen out qualified candidates. Furthermore, Gartner found that 86% of companies are now running virtual interviews, yet few are using modern approaches to ask the right questions or properly capture data. This is evidenced by 60% percent of job seekers who report a negative interview experience, according to the Human Capital Institute, in part due to interviewers who were not prepared or appeared disengaged during the interview.
HireLogic addresses these challenges and significantly improves hiring outcomes, with:
- AI-powered automated candidate screening and ranking, using machine learning resume parsing and matching across multiple dimensions.
- Exceptional interview experience and data gathering, with interviewer guidance, simplified scoring based on proven best practices, and integration to HR systems.
- Deep analysis and insights with interview highlights, topic summaries, and interactive candidate comparison.
- Unbiased decision making and support for diversity, equity, and inclusion (DE&I) practices, for better hiring outcomes.
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Unlike other hiring technology solutions, HireLogic is built on decades of recruiting experience, and provides a unique methodology for comprehensively assessing candidates across hard and soft skills, and culture fit. The platform includes hundreds of bias-screened templates, with AI models trained on thousands of historical interviews across multiple geographies and positions, to enhance collaborative human decision-making and select ideal candidates using unbiased, objective data.
“If employees are the lifeblood of companies, then hiring the right employees is critical, not just to survive, but to thrive,” says Umesh Ramakrishnan, chief executive officer of Kingsley Gate Partners, and HireLogic board member. “We have taken the collective experience of world-class recruiters, coupled with proven methodologies for uncovering the best fit candidate, and infused them into accessible software that helps any company make better hiring decisions.”
Organizations of any size can start using HireLogic immediately, at no cost, to rank candidate resumes, run structured interviews, gain insights, and make better, data-driven hiring decisions. For businesses who use existing applicant tracking systems (ATS), HireLogic offers plans that include integration with those systems to automatically bring in position and candidate information.
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