US-based automated recruitment software developer AllyO came out of stealth on Tuesday with $14m in funding from investors including human resources firm Randstad and internet technology provider Google.
The corporates, which invested through their Randstad Innovation Fund and Gradient Ventures vehicles respectively, were joined by Bain Capital Ventures, the venture capital arm of private equity firm Bain Capital, which led the round, and VC firm Cervin Ventures.
Founded in 2016, AllyO has developed an artificial intelligence-powered assistant called Ally that automates parts of the recruitment process including the screening of applicants, the scheduling of interviews and the execution of background checks.
The capital will fund an expansion that will involve the company’s business and product teams more than doubling in size in 2018, as it opens a second office and looks to enhance Ally’s AI functionality.
Indy Guha, a partner at Bain Capital Ventures, has joined AllyO’s board of directors in connection with the round.
Paul Jaquin, managing partner at Randstad Innovation Fund, said: “The recruiting industry has a lot to benefit from increased use of automation and artificial intelligence, and AllyO offers one of the most comprehensive platforms that we have seen, transforming the recruiting workflow from sourcing to post-hire.”