Salesforce Ventures and Workday Ventures, subsidiaries of enterprise software providers Salesforce and Workday, have both participated in a $40m series B round for US-based recruitment analytics software developer Pymetrics.
Growth equity firm General Atlantic led the round, which included venture capital firms Khosla Ventures and Jazz Venture Partners, boosting Pymeytrics’ funding to almost $57m altogether.
Pymetrics has created a platform that utilises artificial intelligence technology and neuroscience data to help eliminate bias in employee recruitment and promotion, assessing candidates’ cognitive and emotional profile to see how they match that of high performing workers.
Frida Polli, co-founder and chief executive of Pymetrics, said: “Pymetrics fundamentally reinvents the job matching process by making resumes and rejection letters a thing of the past.
“Candidates should be evaluated on their potential, not pedigree, and all candidates should be encouraged to find their ideal job rather than a rejection letter being the end of the road. The current process does not use people’s time efficiently and it does not maximise human potential.”
A graduate of consulting firm Accenture’s FinTech Innovation Lab, Pymetrics received $2.5m in seed funding from Khosla Ventures and assorted angel investors in 2013.
Khosla joined Randstad Innovation Fund, BBG Ventures and Mercer, respective subsidiaries of recruitment firm Randstad, digital media company Oath and professional services firm Marsh & McLennan, in a $6.1m round for the company in 2016.
Randstad Innovation Fund, BBG, Jazz Venture Partners and Khosla Ventures returned to invest in an $8m round in September 2017 that included Workday Ventures. The latest funding will be channelled into product development and international growth.
Image courtesy of Pymetrics.
