SeekOut is a talent search and recruiting platform offering various solutions to businesses and job seekers. Recently, the company raised $115M at a $1B valuation in a round led by Tiger Global. This news signifies the company’s success in helping businesses and job seekers find the best matches for their needs.
This article will discuss the benefits of using SeekOut for companies and job seekers.
Overview of SeekOut
SeekOut is an AI-driven recruiting platform that uses innovative technologies within recruiters’ existing workflows to provide the most cost-effective, efficient and accurate recruitment experience. By unifying job descriptions, candidate profiles, talent pipelines and social media sources into an integrated web interface, SeekOut allows recruiters to quickly search for and engage talent with highly customised filters and powerful analytics.
The combination of AI technology and predictive analytics in SeekOut drives faster speed to market by streamlining recruitment processes. With real-time updates on candidates at any stage of the recruiting journey, recruiters can automate much of the initial screening process with fewer manual steps than ever before. Additionally, recruiter decisions can be quickly updated to context-based recommendations from SeekOut’s matching algorithms. These features are designed to help organisations improve their recruitment processes’ overall speed and accuracy.
SeekOut also reduces nonproductive hours spent on manual tasks while maintaining an account-wide view of a company’s network — providing visibility into job openings, salary ranges and other relevant stakeholders across the industry. These insights enable more informed sourcing decisions while bridging geographic divides in today’s changing global landscape.
Using these tools, organisations can scale up more quickly instead of relying solely on traditional methods such as headhunters or job boards when searching for top candidates who meet their qualifications. Thus, enabling faster time to talent acquisition while providing consistent value from each new hire over time leads to greater success for both your company vision and its bottom line.
Overview of Tiger Global
Tiger Global is a multi-strategy investment fund focused on venture capital, growth equity, private investments, and public market investments. Founded in 2001 by Chase Coleman and Feroz Dewan, the firm is the investment arm of Tiger Management LLC. Its operations span the US, India and China with multiple offices worldwide including India’s largest international venture capital fund.
The cornerstone of Tiger Global’s investing philosophy is a long-term approach and deep commitment to understanding global trends and technologies. The firm seeks to identify disruptive opportunities in industries ripe for change or unexpected sources of value creation from new services or products. This approach has led to numerous successes in web 2.0, consumer internet/mobile and software sectors, and traditional industries such as retail and financial services.
By leveraging technology-focused research teams across centres globally, Tiger Global seeks out leading companies that can benefit from its global network and resources for growth. In addition, through strategic investments in emerging markets across sectors such as education technology, logistics tech, e-commerce & pharma; it works directly with startup companies throughout their journey to become industry leaders by achieving scale benefits through product development innovation & partnership collaboration.
SeekOut allows access to hundreds of millions of qualified professionals worldwide through its sourced candidate database. In addition, it provides tools to search and filter resumes effectively via relevant criteria like professional experience, skillset & location data. Tiger Global also offers valuable recruitment analytics insights from SeekOut’s AI-powered talent discovery platform which enables recruiters to identify potential hires quickly based on reliable data compiled from years of research all over the world; thus helping them quickly identify potential candidates for hire who have both technical skills and the right job fitment; all while saving time & money throughout the recruitment process.
SeekOut Raises $115M at a $1B Valuation led by Tiger Global
With the recent announcement of SeekOut’s $115 million raise at a $1 billion valuation, the data-driven recruitment platform is becoming the go-to recruitment solution for many companies. But what makes SeekOut so attractive to businesses?
In this article, we will discuss the benefits of using SeekOut and why it is often the preferred choice for many hiring managers.
Increased Efficiency in Recruiting
SeekOut is a powerful recruiting tool designed to make hiring more efficient and effective. It helps recruiters find better talent faster through its AI-powered search capabilities, comprehensive resume database and a cutting-edge AI screening solution.
SeekOut’s advanced search capabilities allow recruiters to search the internet for resumes uniformly, eliminating the hassle of manually reviewing each resume. In addition, the machine learning technology sorts through resumes in less time than traditional methods, making it easier to find qualified candidates quickly. This saves time, ensuring recruiters invest their efforts efficiently in recruiting top talent.
Additionally, SeekOut’s comprehensive resume database allows recruiters to access a wider variety of potential candidates from multiple sources, including job sites and social media profiles. This gives them greater visibility into candidates’ qualifications and experience and allows them to quickly identify qualified prospects no matter where they are located.
Lastly, SeekOut offers an AI-based screening solution that leverages predictive analytics and natural language processing (NLP) technology to assess candidate skills without relying on subjective judgement or unconscious bias. This reduces the effort of manual research by automatically evaluating resumes on key criteria such as specific skills, experience and educational credentials. As a result, recruiters can quickly gauge candidates against pre-set criteria and shorten their vetting process while identifying good matches for each job they post faster than ever before.
Cost-effective
SeekOut is an innovative tool to help employers and recruiters find talented candidates quickly and cost-effectively. It offers many features that make recruitment faster, easier, and more efficient. The main advantages of using SeekOut include:
-Cost savings: Employers can save time and money using SeekOut’s advanced search capabilities to quickly and accurately identify qualified job applicants quickly and accurately.
-Efficiency: Messaging tools within SeekOut help employers set up calls with qualified candidates quickly and easily, streamlining the recruitment process.
-Data insights: SeekOut provides useful data insights on hiring trends, allowing employers to make more informed decisions when selecting candidates for their positions.
-Connectivity: Companies who use SeekOut have access to a massive network of job seekers, allowing them to connect with a larger pool of potential employees in minutes.
By leveraging the power of technology, SeekOut makes recruiting for highly skilled positions significantly more cost effective and efficient.
Access to a Global Talent Pool
SeekOut makes global talent available with its comprehensive global database of over 4 million job-seeking professionals. For small to medium businesses with limited resources, SeekOut removes significant barriers to finding high-quality candidates quickly.
By accessing a broad range of profiles – including those in locations unique and soon-to-be tapped regions – employers can identify potential top performers without being constrained by travel budgets. Furthermore, SeekOut’s insights database allows you to qualify talents by having detailed access into their education and professional background like past experiences, skill sets and career development paths.
All these factors help companies build a compelling case for hiring experienced professionals from different cultural backgrounds, increasing their ability to meet the changing needs of their customers.
Improved Candidate Quality
Using SeekOut as a recruitment platform can provide recruiters with access to a wide range of candidates from which to choose, improving the quality of their candidate pools. By leveraging advanced filtering tools and search options, SeekOut allows recruiters to quickly and easily view job applicants’ qualifications and experience to quickly identify top-tier talent. This eliminates the need for traditional manual scanning of resumes or CVs, saving recruiters precious time that can be used to focus on interview prep or other recruiting functions.
SeekOut offers further advanced search capabilities, allowing recruiters to input detailed criteria to quickly find candidates with specific skill sets. This helps narrow down potential candidates and easily identify those most qualified for the position being considered. With unrestricted access to an up-to-date database of over 1 billion professional profiles from across the web, SeekOut provides recruiters with greater opportunity for sourcing high-quality job applicants whose skills meet their needs. Furthermore, SeekOut provides seniority indicators ensuring that job ads are sent only to those individuals who meet a certain level of qualification; this saves time and effort by weeding out unqualified applicants earlier in the process.
SeekOut’s $115M Funding Round
SeekOut, a recruiting solutions provider, recently closed a $115M funding round led by Tiger Global, valuing the company at $1B. This round follows a Series B funding of $50M that SeekOut closed in 2019.
This latest funding round is a testament to the success of SeekOut and the team’s ability to drive the product and impact the recruiting solutions market. So let’s take a look at how these funds can help SeekOut.
Overview of the Funding Round
SeekOut, a Seattle-based Talent Intelligence Platform, has announced a $115 million funding round led by Kleiner Perkins. This strategic investment will allow SeekOut to continue to grow their technology and the company’s operations across the US and internationally. The additional funds are expected to be used towards product innovations, customer experience improvements, and international expansion of their Talent Intelligence Platform.
The fundraising is an exciting milestone for SeekOut. It demonstrates the continued market demand for talent intelligence capabilities that unlock real-time insights into the capacity of potential candidates during any stage of the hiring process. In addition, the combination of AI and data science capabilities within SeekOut offer unique value attractive to industry leaders across different sectors.
By utilising advanced data generated from robust networks throughout the globe – including social media data – in conjunction with proprietary algorithms, SeekOut can bring a modernised approach to talent intelligence by delivering timely and personalised candidate data in response to customer profiles. Furthermore, this new injection of funds will empower SeekOut to leverage partnerships with key industry players to extend its customer base outside its core collaborative approach with HR professionals.
Overall, this investment will fuel toward accelerating innovation within SeekOut’s key competencies by building capabilities for understanding candidate recruitability and offering additional value-added services such as enhancing profiling accuracy through incorporation of job search change detection technology from existing venues like LinkedIn & Glassdoor. Additionally, this new system will enable customers to benefit from faster & more accurate access to high quality talent available on demand giving companies access instantly available profiles with precision qualification ratings when needed for high demand staffing situations!
Investors Involved
The recently announced funding round of $115 million in a Series C financing was led by existing Insight Partners and supported by new investors Madrona Venture Group, Ribbit Capital and Engineer.ai along with existing investors Norwest Venture Partners, Lead Edge Capital, Beenext and Sapphire Ventures.
The additional funding will enable SeekOut to further invest in growth initiatives and continue their mission to bring back the necessary transparency, privacy, and control over talent data to job seekers. Not only does SeekOut provide access to recruiting intelligence from multiple sources like job boards and social networks across the web; it also offers AI-driven automated tools for proactive recruiting that streamline large-scale searches for IT professionals.
SeekOut allows employers to access unparalleled insights into their potential candidates’ skillsets, experiences, locations/remote availability, compensation preferences, and understand more about the overall talent landscape. This helps recruiters efficiently source qualified candidates while complying with global privacy regulations such as GDPR or CCPA. The platform also provides a secure communication layer to ensure that all outreach activities remain GDPR/CCPA compliant before contacting prospective job seekers.
Impact of the Funding Round
SeekOut’s recent $115M funding round has enabled the company to expand its capabilities in automated recruiting and enterprise-grade talent search solutions. The company provides:
- An innovative approach to talent search.
- Offering features such as market intelligence.
- Candidate discovery.
- Applicant tracking that puts recruiters on an even playing field with sophisticated AI tools.
The additional funds will allow hiring a larger engineering and product team. It will also give SeekOut more resources to capitalise on growth opportunities, enhance existing products, and develop new offerings for customers seeking the most comprehensive talent search solutions.
The new funds will also allow SeekOut to increase its global presence by expanding into several geographies including Latin America and Australia. This expansion is key in giving customers access to full-time researchers in every region of the world and local development teams to ensure that their AI-driven search technology is finely tuned for each target market within those regions.
Ultimately, this funding round gives SeekOut expanded resources to continue pushing boundaries relative to what can be achieved through an automated recruitment process – allowing recruiters access to a huge pool of potential job seekers quickly and accurately while complying with the highest standards of data privacy regulations worldwide.
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