US-based augmented writing software developer Textio has completed a $12m funding round that included Bloomberg Beta, the data-focused venture capital firm sponsored by media group Bloomberg, Geekwire reported yesterday.
Industry Ventures, Operator Collective, Emergence Capital, Scale Venture Partners, Cowboy Ventures and Upside Partnership also contributed to the round.
Textio’s augmented writing tools help businesses effectively advertise to potential employees in order to better present their business and eliminate latent biases in the recruitment process. The funding came after it cut 20% of its staff last week, laying off 30 employees.
The round took the company’s funding to $41.5m since it was founded in 2014. Bloomberg Beta, Cowboy Ventures and Upside Partnership supplied $1.5m in seed capital for Textio in early 2015 and joined Emergence Capital in an $8m series A round later the same year.
Scale Venture Partners led Textio’s $20m series B round in 2017, investing alongside Bloomberg Beta, Cowboy Ventures, Upside Partnership and Emergence Capital.
