AllyO, an end-to-end AI recruiting solutions company, announced a number of major milestones recently. For example, the company reported its first-quarter 2019 results recently and it was a significant jump in growth.
What does AllyO do? It makes recruiting more efficient for everyone. And it addresses the traditional inefficiencies of lost applicants and conversions due to poor candidate experience, the high cost of recruiting due to overburdening of administrative tasks on hiring teams and the lack of visibility and control for HR leadership.
And AllyO utilizes deeply conversational AI to fully automate an end-to-end recruiting workflow by intelligently engaging via texting over mobile and the web. It is used by Fortune 500 enterprises that have experienced a 2-6X increase in applicant capture and conversion rate and a 91% application completion rate. Plus it has over a 50% reduction in cost and time to hire.
Since the beginning of the year, AllyO saw its Annual Recurring Revenue (ARR) increase by more than 50% over the end of the year 2018. Of the ARR growth, 55% was from new customers and 45% was from existing customers expanding the use of AllyO — similar to the last quarter of 2018.
Plus AllyO added 20% more customers in the quarter and 10% of all 2018 customers expanded in Q1 2019. Q1 2019 was the largest for AllyO so far as it was almost 2x of any quarter before. And the company grew 4.5x from a year ago.
“It’s tremendous and sometimes daunting to see AllyO grow at such speed. What my co-founder (Ankit Somani) and I are most proud of is our exceptional team of 95 FTEs, the fact that 94 percent of 15M interactions with candidates have resulted in experience to be great or excellent, and a 97 percent CSAT score from customers thanks to our 1.5 hour request resolution time. This year, 3 percent of America will find their job interacting with AllyO, and that is very gratifying,” said AllyO co-founder Sahil Sahni in a statement.
Some of the companies that are turning to AllyO to automate their full-cycle recruiting processes include a Fortune 50 logistics company, Avis Budget Group, The Cheesecake Factory, Cotton Patch, Delta Companies, Friedman, Owens & Minor, Responsive Education Solutions, and Village Hospitality. Plus AllyO expanded upon its relationship with a number of existing clients like Brinker International, MasterBrand Cabinets, and several other major companies.
“AllyO closed 66 percent of open requisitions in two weeks [when we started back in 2017] and has created an amazing experience for our restaurant. All our applicants talk with AllyO first, and if qualified are directly scheduled with the restaurant. This month we happily renewed with AllyO for an additional three years,” explained Brinker International’s Director of PeopleWorks Brooke Burgiel.
With this growth in revenue and revenue per customer, AllyO has been able to stand off the chart based on SaaS metrics. And AllyO’s growth has been very economical as the fully loaded cost to acquire a customer was at under 70% of new customer ARR even before any expansion.
AllyO’s award-winning solutions have served 10% of the Fortune 50 and the company also recently announced it raised additional funding which brings the total raised to $19 million. This latest round of funding was led by Square 1 Bank.
“AllyO is exceptional when it comes to the types of customers and their pace of expanding the use of AllyO. In the few months we interacted with AllyO we saw the company grow 2.5x, with some of the largest employers of the world. We are proud to work with Sahil and Ankit as they continue to grow their business and have social impact at scale,” added Square 1 VP of the technology banking practice Darrell Sorenson.
In order to support the growth acceleration, AllyO recently hired two new leaders including Ariel Junqueira-DeGarcia (head of customer success) and Jade Chen (head of strategy & operations). Plus the AllyO team grew 25% and almost triple from a year ago. The company is on track to reach 100 full-time employees by Q2 2019.
“Companies that are able to improve hiring outcomes become more likely to see an improvement in first-year retention and first-year performance. In today’s job market, these metrics matter more than ever – and it all comes back to enhancing the talent acquisition process. AllyO helps companies achieve this, streamlining recruiting from start to finish,” Aptitude Research founder Madeline Laurano shared.
In terms of accolades, AllyO was the sole HR solution provider selected as a finalist for the in inaugural AI Excellence Awards as well as the MIT Sloan CIO Symposium.
AllyO also recently revealed members of its advisory board, which includes HR industry influencers Jason Averbook, Doug Berg, Steve Boese, Elaine Orler, and Kevin Wheeler.
AllyO is backed by some of the most renowned investors including Gradient Ventures (Google’s AI fund), Randstad Innovation Fund, Bain Capital Ventures, and Cervin Ventures.
Bi-Directional Workday Integration In Collaboration With Strio Consulting
Another recent milestone that AllyO announced is that it set up bi-directional Workday integration in collaboration with Strio Consulting — which is a consulting firm that is working at the intersection of recruitment and technology. The framework was launched earlier this year and it expedites deployment of Workday for AllyO customers thus saving time, effort, and money in the process.
“Hiring organizations are always looking for tools and solutions to better productivity,” AllyO’s Head of Data Products and Engineering Nick Possley pointed out. “AllyO and Strio took that to heart, developing a bi-directional Workday integration that bridges the gap between daily efficiency and the desire to track and store candidate information in one system. As a result, AllyO customers get the best of both worlds, able to leverage their existing ATS with intelligent automation.”
To cut down implementation time and advance recruiting efficiency, AllyO and Strio Consulting also teamed up to build the integration using Workday Studio. This way customers that are already using Workday benefit from leveraging their existing recruiting foundation with the AI-powered functionality of AllyO, ensuring a seamless flow of information throughout the talent acquisition lifecycle. By sharing data back-and-forth between AllyO and Workday, it results in an automated and end-to-end recruiting workflow from the initial job planning stage to screening and scheduling all the way to new hire check-in.
“Working together, AllyO and Strio took a process that might take months to complete and created an integration that plugs in with just a few minor adjustments. That’s a tremendous win for organizations looking to automate their recruiting workflow, without having to start from scratch, and one that brings efficiency to everyone involved: candidates, recruiters, hiring managers and interviewers,” Strio Consulting CEO Caleb Fullhart commented.
UNLEASH America Event
If you happen to be in Las Vegas this week, then you may be interested to hear that AllyO is exhibiting at UNLEASH America on Tuesday, May 14 and Wednesday, May 15. Attendees can schedule a demo or stop by Booth No. 402 to learn more about the company.