HireLogic scores $4M in Seed funding to modernize the antiquated interview processes and identify the best candidates for companies using AI
The hiring landscape is more competitive than ever before. In the summer of 2021, a record 4.3 million Americans voluntarily quit their jobs in what some are calling the beginning of the “Great Resignation.”
The number is a reminder of the problem faced by employers as they compete to attract top candidates who are unmotivated to return to the workforce. Now, one tech startup is aiming to help companies identify the best candidates through better interview data and AI-assisted insights.
Enter HireLogic, a Dallas, Texas-based tech startup that improves interview processes using artificial intelligence (AI) powered human resources technology software. With decades of recruiting best practices, HireLogic wants to help companies modernize interview processes and improve hiring decisions with AI assistance. Via its AI-based talent platform, HireLogic creates open positions, conducts structured live video interviews & matches candidates in real time.
Today, HireLogic announced it has raised $4 million in seed funding from several prominent individual investors including Edward J. Zander, former chief executive officer and chairman of the board of Motorola, Mike Pehl, partner at Guidepost Growth Equity and former president of Razorfish, and Ann Fandozzi, chief executive officer of Ritchie Bros.
HireLogic will use the fresh capital infusion to continue the expansion of its platform’s capabilities, including applied machine learning, integration to video conferencing platforms and applicant tracking systems (ATS), and establish go-to-market activities based on a product-led growth (PLG) model. HireLogic’s leadership team consists of enterprise software veterans from SAP, Oracle, and TIBCO, and veteran executive recruiters from CTPartners, who have developed a unique platform built to help busy human resources departments and hiring managers to adapt to modern staffing challenges.
“There are over 30 million interviews taking place monthly, or 1 million interviews a day, and many of them are happening virtually,” said Anirban Chakrabarti, chief executive officer of HireLogic. “Our mission at HireLogic is simple: to improve the experience of these interviews, and help organizations gain insights from interview data to make faster, better hiring decisions.”
Unlike other hiring technology solutions, HireLogic is built on decades of recruiting experience and provides a unique methodology for comprehensively assessing candidates across hard and soft skills, and culture fit. The platform includes hundreds of bias-screened templates, with AI models trained on thousands of historical interviews across multiple geographies and positions, to enhance collaborative human decision-making and select ideal candidates using unbiased, objective data.
“If employees are the lifeblood of companies, then hiring the right employees is critical, not just to survive, but to thrive,” says Umesh Ramakrishnan, chief executive officer of Kingsley Gate Partners, and HireLogic board member. “We have taken the collective experience of world-class recruiters, coupled with proven methodologies for uncovering the best-fit candidate, and infused them into accessible software that helps any company make better hiring decisions.”
Organizations of any size can start using HireLogic immediately, at no cost, to rank candidate resumes, run structured interviews, gain insights, and make better, data-driven hiring decisions. For businesses that use existing applicant tracking systems (ATS), HireLogic offers plans that include integration with those systems to automatically bring in position and candidate information.