Evolv Raises $15 Million
Evolv is a company that uses data points to determine if companies are hiring the right people. Evolv has raised $15 million in a fourth round of funding led by Vantage Point Capital. Evolv’s software can increase workforce tenure by an average of about 15% and workforce performance by about 5%.
Evolv’s data scientists can extract information like performance data and termination history, then combine it with metrics like nationwide unemployment and gas prices. Evolv also sends out surveys to employees about social media and work history.
Evolv started in 2007 and has customers like Xerox and The Results Companies. Their customers pay around six figures for an annual subscription. Evolv will be using the cash to build their sales and marketing team. They will also be expanding internationally.
Previous investors that also participated in this round include GGV Capital, Khosla Ventures, and Lightspeed Ventures.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry