Artificial intelligence impacts our daily lives in the form of smart assistants, internet of things devices, and popular AI use cases targeting consumers with ads, recommendations, and personalized messaging. AI can also make a big difference in a range of B2B applications, including how startups find and hire the best candidates.
Today, AI-driven recruiting technology company Hiretual has announced a $5 million funding round led by Northern Light Venture Capital, which brings the company’s total raised to $6.5 million. Founded in April 2015, Hiretual has been stealthily building and scaling its talent recruitment platform, which is used by more than 80,000 recruiters from more than 200 companies.
Glassdoor reports that the biggest obstacle in the hiring process is a shortage of candidates, and GetAppLab’s 2017 survey revealed that more than 40 percent of recruiters report a shortage of candidates is their biggest challenge.
Hiretual‘s idea is a simple one. It scours unstructured internet content to create a candidate sourcing base that is much larger than current sourcing platforms. It says its database currently has over 700 million candidates, which is significantly higher than the likes of LinkedIn (at 562 million) or Indeed (which has 200 million).
That’s a huge advantage because the platform doesn’t have to wait for potential candidates to enter their data.
“Hiretual gathers professional data from more than 30 social platforms, such as Angel List, Indeed, GitHub, Stack Overflow, and others, as well as the entire open web, turning the internet into a recruiter’s…