HireLogic, a Texas-based artificial intelligence (AI) enabled hiring interview intelligence solution, has recently announced that it has raised $6 million in its Series A round led by Joseph P. Landy, former Partner and Co-Chief Executive Officer of Warburg Pincus. The funding round also witnessed the participation of existing investors, who previously invested in the company’s seed round.
The company intends to use the funds to advance the capabilities of its conversational analytics platform, and expand go to market activities. 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.
HireLogic is the creator of an AI tool that’s designed to help companies improve the way they evaluate new job candidates. According to the startup, it has created a new standard for interviewing job applicants. It relies on powerful conversational analytics and AI to listen in on interviews, providing objective insights into each candidate based on their responses, in order to help interviewees make better hiring decisions.
In addition to supporting platforms such as Zoom, Microsoft Teams, and Google Meet, the startup offers a companion Web app that can listen to any in-person or telephonic meeting, providing full coverage for all interview modes. HireLogic can also auto-generate questions for any position to prepare interviewers, leveraging a combination of OpenAI (GPT-3) and HireLogic capabilities.
Commenting on the fundraising, Chief Executive Officer of HireLogic, Anirban Chakrabarti, said:
Joe, 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. 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 support, 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 customers can expect immediate benefits through 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. It does not stack rank candidates, screen them, or otherwise replace human decision-making to minimize other forms of AI bias.
Joe Landy, who leads Series A investor and former co-CEO of Warburg Pincus, added:
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. We are already seeing the transformational impact that AI and GPT3 have, and we 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 reports significant growth in the tool’s use since its public launch six months ago. It claims to have listened to thousands of interviews per month, analyzing more than a half-million interview minutes in total.
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