“We are a marketplace business,” explains Stella.ai’s executive chairman and cofounder Adam Zoia, “We serve both [candidates and companies].” As such, Stella.ai launches out of stealth today with more than 100 major organizations that have already been actively using it, including the likes of Unilever, Hilton, JetBlue, Rackspace, Charter, Allergan, HBO, Revlon, and Estee Lauder.
Zoia says that some of the larger companies in its marketplace receive as many as 4.5 million resumes per year, globally. Others, he says, have gotten 10 million applications for open jobs over the course of a year. Obviously, only a tiny fraction of these applicants can get hired, says Zoia. By making this “tremendous sourcing funnel” available in one place and letting AI do the matching, Zoia maintains that Stella can “redirect people where they are best suited.”
Instead of keeping candidates in their own closed files, companies in the marketplace “invite” candidates who’ve applied for positions with them to join Stella.ai’s shared talent network. If they don’t land the job they applied for–and many won’t because they are unqualified or don’t meet other requirements, Zoia insists–Stella.ai can find a better fit and reroutes them to other recruiters.
This also saves the candidate the enormous amount of time it takes to find openings and tailor a resume and application to each one. Zoia says it can take hours to do this. And some estimates suggest that the probability of getting a job interview from one application is as low as 8.3%. Zoia likens Stella.ai to the…