US-based automated recruitment software developer AllyO secured $45m on Wednesday in a series B round that included human resources firm Randstad and internet technology provider Google.
Venture capital firms Sapphire Ventures, Scale Venture Partners, and Cervin Ventures also took part in the round together with Bain Capital Ventures, private equity firm Bain Capital’s VC arm.
The corporates contributed to the round through their Randstad Innovation Fund and Gradient Ventures vehicles respectively. Sapphire Ventures president Jai Das will take a seat on the company’s board of directors in conjunction with the round.
AllyO has created an artificial intelligence-based platform that helps hiring managers automate the entire recruitment process, including the identification and screening of candidates and the scheduling of interviews.
The round increased the company’s overall funding to $64m, it said. It emerged from stealth in March 2018 with a $14m funding round led by Bain Capital Ventures and backed by Randstad Innovation Fund, Gradient Ventures and Cervin Ventures.
Sahil Sahni, co-founder and chief executive of AllyO, said: “At AllyO, we aim to make recruiting more delightful and efficient for everyone. The AllyO team works very hard prioritising customer success, generating clear [return on investment] for the world’s largest employers.
“We are humbled by our exponential growth but also acknowledge the excitement of being able to see the path to an [initial public offering] in around three years.”