- This investment will be used to modernize the capabilities of HireLogic’s conversational analytics platform, meet the demands to expand its customer base, and extend its go-to-market activities.
- The company has seen considerable usage growth across its customers within six months of its public debut, listening to thousands and analyzing millions of interviews.
HireLogic Inc., an Artificial intelligence-powered hiring assistant, recently said that it has closed USD 6 million in the early-stage funding round. Co-chief executive officer and a former partner of the private equity firm Warburg Pincus LLC, Joseph P. Landy, led the initial funding round.
HireLogic’s existing investors of earlier seed funding rounds also participated in the Series A round, so the total amount increased to more than USD 10 million.
HireLogic is the inventor of an AI tool to assist companies in improving the process of evaluating new job candidates. According to the startup, it has set a new standard for interviewing job applicants. It depends on powerful conversational analytics and AI to study interviews and produce objective insights into each applicant based on their responses to help interviewees make finer hiring decisions.
By inviting HireLogic’s AI to any remote or face-to-face interview, recruiters can step beyond simple transcriptions or note-taking of those interviews and evaluate how much of the job description was included in the conversation. It can also assist in detecting each candidate’s leadership qualities and aspirations and produce data that can help interviewers to become ready for future interviews.
HireLogic described that it developed its AI algorithms exclusively for the hiring domain. It functions by effectively determining speaker responsibilities and inferring intent to recognize both each candidate’s unique characteristics and job functions. It can even find question bias for compliance and coaching.
The service can be embedded into video platforms like Microsoft Teams and Zoom to help in virtual interviews, and there is a companion app that can listen to any other type of call or face-to-face meeting. In such a manner, it can cover every kind of interview session. Additionally, it can also produce interview questions on its own, depending on job requirements.
The startup guarantees instant benefits for recruiters, with on-the-spot automated insights that help decision-making procedures and enhanced candidate engagement through better interview consistency and structure. It provides human resources teams to build decision-making with more objective data while removing memory and question bias. It does not help in ranking candidates, screening them, or replacing humans in the decision-making procedures.
HireLogic announced considerable growth in the tool’s use since its public debut six months ago. It argues it has listened to thousands of interviews every month, analyzing more than a half-million interview minutes in total.
HireLogic directed the funds from a recent round to increase the capabilities of its conversational analytics algorithms, meet the demands of expanding its customer base, and extend its go-to-market activities.