Paradox, an AI tech startup, raises $40M Series B to help companies embrace the future of work with conversational AI
The coronavirus era has brought the conversation about the “Future of Work” to the forefront for many companies. The term Future of Work was first coined by Deloitte as “The growing adoption of artificial intelligence in the workplace, and the expansion of the workforce to include both on- and off-balance-sheet talent. Enter Paradox, a conversational AI platform helping HR and talent teams automate administrative tasks and deliver real-time candidate and employee communication. Paradox is the creator of Olivia, an AI assistant that allows you to focus on what you do best, while she focuses on candidate capture.
Today, the Arizona-based Paradox announced it has raised $40M in Series B funding to expedite its vision of a future where AI is a liberating force to help people do their best work. The round was led by Brighton Park Capital. The Arizona-based startup, whose 200+ global enterprise clients include McDonald’s, CVS Health, and Unilever.
Founded in 2016 by Aaron Matos and Olivia Matos, Paradox Olivia, the company’s conversational AI assistant, automates administrative work — like screening, scheduling, onboarding, employee communications, and more — to drive efficiency that gives teams hours back in their week, and enables everyone to do better work, faster. The was founded with the belief that recruiters, hiring managers, and talent leaders should spend their time with people, not software.
No one goes into recruiting or HR because they like screening resumes, scheduling interviews, or managing paperwork,” said Paradox founder and CEO Aaron Matos, who started his career as an HR practitioner. “Our clients love our AI assistant Olivia because she helps them get back to doing the strategic people work that got them into recruiting and HR in the first place.”
Since its founding, Paradox has earned the trust of more than 200 clients globally, including some of the biggest brands in the world — CVS Health, McDonald’s, Unilever, Intel, Aramark, and many more in the Fortune 500. The company has won numerous awards, including being named one of Human Resource Executive’s Best HR Products of 2019, and was recently named one of Forbes’ Top 500 Startup Employers.
“Paradox is fundamentally aligned with where the world is going,” said Gregoire, who served as CEO of cloud-based talent management pioneer Taleo from 2005 through 2012, when the company was acquired by Oracle for $1.9 billion. “The company is seeing increased adoption as digital transformation becomes more critical to organizational resiliency and long-term success. Paradox is the clear leader in its category and we’re thrilled to partner with their team to execute a vision for the future of work.”