Workable, a Boston-based recruiting automation platform for SMBs, has announced that it raised $50 million in growth financing led by Zouk Capital. 83North, Balderton Capital, Notion, TriplePoint Capital, and Endeavor Catalyst also participated in this round.
There are more than 20,000 companies that have used Workable to source and evaluate 50 million job candidates in 100 countries around the world.
Currently, several million small businesses handle 70% of the hiring in the world and the old tech stack of separate point solutions for sourcing, workflow, and evaluation is not efficient.
What Workable does is pack everything that a modern recruiting operation needs into one tool, including passive candidate sourcing, recruitment marketing, interview scheduling, candidate assessment, and workflow automation.
“For our customers, this means a renewed commitment to deliver the best recruiting software in the market, a more ambitious product development plan, a stronger company with more resources to help you get results, and an ever-increasing user community to connect with and learn from. We’re excited at the prospect of building the recruiting tool you will be using in the next decade,” said Workable CEO Nikos Moraitakis in a blog post.
And Workable has developed artificial intelligence technology that draws upon hundreds of millions of human decisions in order to recommend candidate matches and programmatically advertise to individual candidates via its network of 180 partners including LinkedIn, Indeed, Facebook, and Google.
Workable is now rolling out new technology in order to automate the screening and evaluation of candidates. For example, Workable’s new technology will offer candidate self-scheduling, resume enrichment, machine-powered screening, and over 30 integrated evaluation and video interviewing tools.