HireLogic Secures $6M Series A Funding to Bring Conversational Analytics to the Global Talent Acquisition Market
Investment enables HireLogic to meet increasing demand for AI-powered interview intelligence platform
DALLAS, Feb. 22, 2023 /PRNewswire/ -- HireLogic (www.hirelogic.com), an artificial intelligence (AI) enabled hiring interview intelligence solution, today announced a $6M series A funding round led by Joseph P. Landy, former Partner and Co-Chief Executive Officer of Warburg Pincus. Existing investors from HireLogic's seed round also participated, bringing total funding raised to over $10M. This investment will be used to advance the capabilities of HireLogic's conversational analytics platform, expand go to market activities, and meet the demands of the firm's growing customer base. HireLogic was founded by recruiting industry veterans, Umesh Ramakrishnan, Nancy Albertini, and Buster Houchins of Kingsley Gate Partners, to help organizations improve the process of evaluating candidates with better data and insights.
Mr. Landy will join HireLogic's board of directors, alongside Noam Eisenberg and Anirban Chakrabarti. During his 35-year tenure at Warburg Pincus, Mr. Landy grew the firm's private equity assets under management to $56 billion and led investment in areas including information technology, Internet applications and infrastructure. Mr. Landy has previously served as a board member of CrowdStrike, Neustar Inc., Covad Communications, and Bausch & Lomb Inc.
"Joe is a proven investor and advisor to emerging companies, has helped numerous technology startups reach their full market potential, and recognizes the massive total addressable market opportunity for a common HR challenge," said Anirban Chakrabarti, HireLogic CEO. "HireLogic will benefit tremendously from having access to Joe's guidance and network as we embark on our next phase of growth and go to market activities. I want to thank Nancy, Umesh, and Buster for their enormous suport, domain expertise, and customer insights that built the foundation for HireLogic. We are grateful for their guidance that has enabled our AI driven innovation to address the needs of the large global talent acquisition market."
HireLogic has established a new standard for interviewing candidates and filled a gap in the hiring process. The solution uses conversational analytics and AI to listen to interviews and provide objective candidate insights for better hiring decisions. Simply by inviting HireLogic to listen to any in-person or remote interview, hiring managers or recruiters can go beyond transcriptions and note-taking to understand how much of the job description the conversation covered, detect candidate attributes such as aspirations and leadership experience, and even detect potential question bias for coaching and compliance.
"I have experienced first-hand how much time and money organizations spend interviewing candidates, the lack of objective data being gathered, and the impact quality of hires has on performance," said Joe Landy, lead Series A investor and former co-CEO of Warburg Pincus. "We are already seeing the transformational impact that AI and GPT3 is having, and expect to see this affect all sectors including HR. What Gong did for sales intelligence, HireLogic is doing for interview intelligence in a similarly large market, and their customers are already experiencing the benefits. I look forward to working with the HireLogic team to transform interviewing and capture this opportunity."
HireLogic has developed advanced AI and machine learning capabilities focused on the hiring domain, using a combination of proprietary and third-party AI. The solution goes beyond general transcription offerings, using models trained on thousands of interviews to recognize job functions, intent, and candidate characteristics. In addition to supporting platforms such as Zoom, Microsoft Teams, and Google Meet, HireLogic offers a companion Web app that can listen to any in-person or telephonic meeting, providing full coverage for all interview modes. To prepare interviewers, HireLogic can also auto-generate questions for any position, leveraging a combination of OpenAI (GPT-3) and HireLogic capabilities.
HireLogic customers can expect immediate benefits in the form of increased productivity, with automated insights that enable faster decision making and increased candidate engagement. HR teams and hiring managers can augment decisions with objective data, avoid memory bias, and detect potential non-compliance. HireLogic does not stack rank candidates, screen them, or otherwise replace human decision making, to minimize other forms of AI bias.
"Since launching HireLogic, our recruiting teams have seen rapid gains in productivity, visibility, and accountability in the interviewing process," said David Benko, Managing Director of Professional Services at BlankFactor, a 2022 top 500 fastest growing company in the Inc. 5000. "All groups have seen quick adoption of HireLogic, thanks to its ease of use and valuable data the platform provides from interviews, which we didn't have before."
HireLogic has seen significant usage growth across its customer base within six months of public launch, listening to thousands interviews a month and analyzing over half a million interview minutes. For businesses who use applicant tracking systems (ATS), HireLogic offers optional integration to automatically import job description and candidate information.
Learn more or sign up for free at: www.hirelogic.com
ireLogic is an AI-powered conversational analytics platform that dramatically improves interview productivity and intelligence, to enable smarter hiring decisions. Built on decades of recruiting experience and using advanced AI models, HireLogic extracts valuable insights by listening to any in-person or remote interview. HireLogic can be used by individuals or organizations of any size, who can start experiencing smarter hiring for free at www.hirelogic.com
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SOURCE HireLogic, Inc.