RecruitBot, a recruitment platform, has recently secured $8.2 million in additional seed funding to expand its AI-driven recruitment software. The funding round was led by Slow Ventures, with participation from SNR, OCA, Freestyle, and Parade.
The primary goal of RecruitBot is to empower recruiters with advanced technology that enhances talent sourcing and accelerates the hiring process. By utilizing AI and machine learning (ML), the platform can understand the preferences of recruiters and present increasingly relevant candidates from its extensive database of 600 million profiles. RecruitBot also offers personalized automated email campaigns on behalf of hiring managers.
What sets RecruitBot apart from traditional hiring platforms is its inclusion of specific filters, such as support for diversity, equity, and inclusion (DEI) initiatives, combined with machine learning capabilities. This enables recruiters to quickly identify candidates who are ideally suited for a particular role.
According to Jeremy Schiff, CEO and founder of RecruitBot, while most tools in the market solve only a portion of the recruitment problem, RecruitBot’s platform addresses all the challenges faced by recruiters in a single product. It allows for a shift from the standard recruiting funnel to a recruiting flywheel, where ongoing sourcing for similar roles becomes more effective over time. The platform’s machine learning algorithms continuously improve the relevancy of candidate recommendations, while automated personalized outreach and analytics enhance response rates.
Based on previous reviews, RecruitBot’s proprietary machine learning algorithms analyze and identify candidates who closely match the desired criteria, allowing users to discover the most suitable candidates. Recruiters can review five times fewer candidates while still finding relevant matches.
This latest funding round builds upon RecruitBot’s growth in 2022 and its previous $3 million pre-seed funding round. Since its launch, the company has raised a total of $11.2 million.
RecruitBot aims to address the challenges faced by recruiters, who often struggle to identify the right candidates and manage multiple sourcing tools, outreach tools, applicant tracking systems (ATS), and customer relationship management (CRM) systems. By offering a comprehensive solution that combines sourcing, outreach, and analytics in one platform, RecruitBot simplifies the recruitment process. The platform’s machine learning capabilities enable companies to customize their candidate searches based on skills, experience, and other criteria through a single, scalable tool.
RecruitBot plans to use the newly raised funds to enhance its AI capabilities and expand its customer base through investments in sales, marketing, and customer success. This strategic allocation of resources aims to empower more customers and drive the development of additional AI features in the coming months.
With its advanced AI-driven recruitment platform, RecruitBot is poised to revolutionize the way recruiters source and hire talent, ultimately streamlining the recruitment process and improving overall efficiency.
