SeekOut, a Seattle-based Talent Intelligence Platform, has recently announced an impressive raise of $115M at a valuation of $1B. This funding round is led by Tiger Global, who has invested in notable startups like Stripe and Appdynamics. Additionally, the funding round includes participation from existing investors, including Spark Capital and Salesforce Ventures.
This raise marks an important moment for SeekOut and reflects their ambition to transform the way companies find and hire people. In this article, we’ll cover what sought out plans to do with their new funding.
Overview of SeekOut
SeekOut is a Washington-based enterprise software startup that provides a SaaS platform for job seekers and employers to connect. The company recently announced it had completed a $115 million funding round at a $1B valuation, led by Tiger Global, with participation from DFJ Growth and others.
SeekOut enables its users to identify skilled professionals for roles that fit their exact requirements. It provides an intuitive way of searching and hiring candidates in STEM fields such as software engineering, product management, DevOps engineers, data scientists, and other specialized positions. In addition to direct recruiters sourcing talent in companies across the globe, SeekOut also offers AI-powered hiring websites and job marketplaces.
The new influx of capital will enable SeekOut to significantly expand its offering in terms of features as well as geography. It plans on investing into its AI platform Talentyze which powers its proprietary matching algorithms while also focusing on nurturing relationships with employers and job candidates through data science driven insights. Additionally, it will look towards global expansion with offices across Europe and Asia by 2021. This move further cements SeekOut’s commitment towards building a next generation platform for more effective talent acquisition around the world.
Overview of the funding
SeekOut, a Seattle-based software company, recently announced that it has raised $115M from Tiger Global at a valuation of $1B. This investment is the latest in a series of investments from major players such as Matrix and Google Ventures.
The new funds will be used to further expand SeekOut’s technology platform and enhance its existing product offerings. The funding will also be used to hire additional talent and continue SeekOut’s focus on providing users with specialized recruitment solutions tailored towards their needs: automated job-matching services, candidate sourcing tools, jobs recommendations, salary comparison tools and more.
Furthermore, this capital will enable SeekOut to further build out its team and provide customers with what it calls a “full suite” of AI-driven recruitment services. In doing so, SeekOut aims to become an even more powerful resource for companies looking to better source top talent in the rapidly changing recruiting landscape.
What the Funding Means for SeekOut
SeekOut recently raised $115 million in funding at a $1 billion valuation, led by Tiger Global. This is a significant milestone for SeekOut, as it demonstrates their potential to grow and scale into a larger business.
With the new funding, SeekOut plans to use the funds to expand their market reach, improve their products, and further invest in their team. Let’s take a look at some of the ways the new funding will benefit SeekOut.
Expansion of product offerings
SeekOut raised $115 million in funding at a valuation of $1 billion, led by Tiger Global. The new funding will enable SeekOut to further expand its diverse set of offerings, from recruitment automation capabilities and hiring intelligence tools, to improving the live interview experience for candidates.
It will also enable SeekOut to extend its data-driven approach to workforce analytics, providing insights and recommendations for optimized recruitment decisions. Moreover, Beyond expanding existing product offerings and developing new ones, the new funding will enable SeekOut to make strategic investments in developers and operations teams across the globe, enabling the company to further serve candidate satisfaction while scaling recruitment initiatives.
Increase in customer base
SeekOut has raised $115 million in a Series C round of funding led by Tiger Global, which values the startup at a $1 billion valuation. The fresh capital will be used to accelerate international expansion and community engagement with the mission of helping anyone find meaningful work. This includes hiring new employees, raising awareness and bringing in new technologies that further support our goals.
With this new funding, SeekOut will not only be able to expand its customer base but also access an increasingly global network of networks built off trust and expertise. By leveraging this growing network, SeekOut seeks to empower companies and job seekers around the world to find the best placements in terms of meaningful work, skillsets, and salaries.
The new funding will also fuel innovation across cutting-edge features such as Interview Validator — which helps job seekers measure their chances of getting selected for an interview — and auto-matching technology that suggests open jobs based on a job seekers’ profile characteristics such as employment history, education level, industry experience and location preference. Along with expanding our presence to countries outside the United States, SeekOut also plans on developing product lines targeted towards specific industries such as Hiring Managers or Recruiters that are looking for highly qualified candidates for specialized roles or positions within certain organizations.
Furthermore, with this influx of capital, SeekOut is creating innovative programs targeted at workforce development which allow people from diverse backgrounds to easily find meaningful employment opportunities with reputable companies locally or abroad –– giving everyone a shot at success regardless of what stage they are in their own careers.
Improved customer experience
Leveraging the new investment of $115 million at a $1 billion valuation, SeekOut plans to invest in creating a better customer experience. This includes expanding their product development efforts, unlocking new functionality, and “deepening user engagement”. With this added attention to the end user, they are hoping to create an even better and more efficient job search platform.
SeekOut also plans to invest heavily in continued innovation of their pay-per-result model, expanding upon their proprietary artificial intelligence technology. A further focus will be spent on improving their search engine optimization solutions which tackles one of the challenging problems for recruiting: efficiently finding job seekers who are actively looking for employment or open to considering new roles.
Finally, software engineering hiring is reported to be one of their top priorities as they look to expand their ability to provide customers with even more functionality. With a greater capacity for complex coding solutions, SeekOut plans on continuing striving towards its mission of connecting candidates with jobs that fit them best and helping employers sift through huge volumes of applicants quickly and efficiently.
SeekOut Raises $115M at a $1B Valuation led by Tiger Global
SeekOut has raised $115 million in Series C funding and has now been valued at over $1 billion. The funding round was led by Tiger Global and others.
With their new infusion of capital, SeekOut will be able to further expand their AI-driven professional search automation technology, and hire more talented professionals.
In this article, we’ll take a look at some of the things that SeekOut plans to do with the new funds.
Invest in new technology
SeekOut, a next-generation recruitment platform provider, recently announced that it has raised $115 million in a Series C funding round led by Tiger Global with participation from existing investor Madrona Venture Group and new investor Lumia Capital. The funding values San Francisco-based SeekOut at more than $1 billion. The new funding will enable SeekOut to invest in new technology and expand their global footprint.
“Delivering on our mission of Talent Everywhere requires having the right talent for any job opening — no matter how specialized or niche—at the click of a button,” said Fabio Rosati, SeekOut’s CEO and co-founder. “This new capital accelerates our ability to make that happen, both through leveraging advances in AI research and powering up hiring teams with intuitive software tools.”
The company plans to use its fresh capital to further its innovative mission of improving access to talent worldwide by investing in its product roadmap — mainly funneling additional research efforts towards the development of groundbreaking artificial intelligence (AI) applications. This shift towards leveraging AI technology across all facets of their business enables them to serve more customers faster – including large organizations transitioning away from traditional recruitment outlets. Additionally, this newfound focus on AI also positions SeekOut as an industry leader in providing access to high-quality talent quickly.
Overall, these ambitious plans will allow SeekOut to solidify its dominant position within the recruitment market while further advancing their goal of facilitating increased access to quality candidates for any business looking for global talent solutions.
Expand into new markets
SeekOut, the talent search platform focused on unlocking the full potential of human capital, will use its latest funding – a $115 million Series C financing round led by Tiger Global at a $1 billion valuation – to expand into new markets, Accelerate its global growth, and continue to innovate.
This major fundraising event marks an important milestone for the Seattle-based company – founded only four years ago in 2016 by Arjun Pradhan and Vineet Goel – as it continues to revolutionize how companies source and recruit talent.
As part of their newest round of funding, SeekOut plans to open up new offices in North America, Europe and Asia Pacific. These new offices will provide local teams that can better serve customers, hire top-notch engineering talent from around the world, and engage with partners to bring more value to members of SeekOut’s partner network. This addition is especially significant considering most hiring managers are internationally located in different countries.
The remaining funds from the Series C fundraise will be used towards developing new features for their customers with an emphasis placed on AI & machine learning capabilities as well as broader integrations across other HR technology platforms such as ATS & CRM systems. In addition, SeekOut plans on investing heavily into customer education & support initiatives like their ‘Boost your business’ program which focuses on giving employers resources needed to upgrade their recruitment process.
By expanding our reach beyond the U.S., we are continuing our mission to help customers smarter hire within their thousands of locations globally,” President & Co-founder Arjun Pradhan said in a press release announcing the fundraise.” We are building an end-to-end automated solution that powers enterprises to onboard qualified diverse candidates faster than ever before.”
Enhance existing products
SeekOut, a Washington-based talent management platform, recently raised $115 million in funding at a $1B valuation led by Tiger Global. The funding round was also supported by existing investors including Trinity Ventures, Twelve Sigma Ventures and Dunn’s Foundation.
The new money will be invested in seeking out and identifying the best talent available for recruitment, wherever they may be located around the world. Further investments will be made to enhance existing products and develop new tools for accurate and efficient recruitment across organizations. This includes leveraging the latest advances in AI technology to better match the right job to the right candidate quickly and efficiently.
This new round of funding further solidifies SeekOut’s place as one of the leaders in talent acquisition technology solutions designed to help businesses build strong pipelines of high-quality candidates globally while driving down cost and time spent recruiting.
Conclusion
After raising the funding round of $115M, SeekOut is now valued at $1B. This marks a significant milestone for the company and will be instrumental in SeekOut’s growth in the coming years.
By taking this capital, SeekOut aims to use the funds to boost their product, build a great team, and expand their customer base.
Let’s take a look at what this could mean for SeekOut.
Summary of SeekOut’s plans
SeekOut, the leading intelligent recruiting platform, recently raised $115 Million at a $1 Billion valuation led by Tiger Global. This marks a critical inflection point for the company in its mission to change recruiting forever. Companies are increasingly turning to data-driven approaches to find and hire the perfect fit – SeekOut is helping companies do just that by providing an intelligent platform designed to make effective recruiting easier.
SeekOut will use its new funding to continue creating the best talent search and candidate engagement experience for recruiters and employers worldwide. This includes expanding their platform capabilities, further integrating with existing HR systems, and making them more accessible for clients in all areas of hiring such as technical screening, AI sourcing, team collaboration tools and more. With the enhanced technology integrations from this funding round, SeekOut plans on quickly becoming a unified hub of knowledge for employers looking to find top talent.
The new capital will also be used for growth operations focused on expanding customers’ accounts across traditional enterprise companies as well as into mid-market segments both domestically and abroad. In addition, the funds will allow SeekOut to build out their Salesforce Platform using Salesforce partner tools & accelerators like Zapier & Workato which empower customers even further with automation possibilities within Talent Acquisition processes or in other facets of HR operations that have historically been laborious manual tasks.Furthermore, this will provide additional resources allowing SeekOut’s engineering team to accelerate product innovation throughout 2020 in order to make it simpler & faster than ever before for recruiters & hiring managers alike.
Potential impact of the funding
The recent $115 million raised by talent marketplace SeekOut at a $1 billion valuation is set to have a notable impact across the industry in terms of pioneering new products, improving existing offerings and bringing enhanced value to customers.
The capital injection will help SeekOut further its strategic objectives, such as increasing its global user base, capitalizing on new technologies to deliver better services and continuing to invest heavily in data and analytics capabilities. This will enable the company to stay ahead of the competition; offering more personalized services than either manual or automated recruitment efforts.
In addition, SeekOut’s expertise in cross-border hiring means it is well placed to meet the growing demand for this key area, saving businesses time and costs involved in seeking international talent. It also has plans for further investment in integrations with other applications and will ensure seamless end-to-end processes for employers and job seekers alike.
Overall, this funding round serves as an endorsement of one of the most promising companies within the modern recruitment industry, setting a benchmark for what can be achieved through sound strategy backed up by financial strength.
