BBG Ventures, the female-focused venture capital subsidiary of online media company AOL, has participated in a $6.1m series A round for US-based recruitment services startup Pymetrics, Fortune reported yesterday.
VC firm Khosla Ventures and consulting firm Mercer were also among the investors in the round, having contributed to the $4.1m first tranche, which closed in December 2015.
Human resources provider Randstad added an undisclosed amount through its Randstad Innovation Fund in February this year. Khosla and various angel investors had previously provided $2.5m in seed funding for Pymetrics in 2013.
Founded in 2013, Pymetrics has built a platform that utilises big data, neuroscience and machine learning to help businesses hire the most suitable employees and workers to find their ideal jobs, while helping to eliminate unconscious bias on both sides.
Susan Lyne, president and managing partner of BBG Ventures, told Fortune: “There are two real issues here that every company faces.
“It is not just about recruiting people, but it is also about retention. If you can get someone into a job that they are well-suited for you are more likely to retain them for longer.”
Pymetrics will use the series A round to support an increase in headcount with a view to enhancing the service it can offer to clients.