HireVue secures USD22m to modernise and reinvent recruiting process
On-demand digital interviewing platform provider HireVue has secured USD22m in funding including a USD17m series C equity round, led by Investor Growth Capital, and an expansion of the company's debt facility.
Granite Ventures, who led HireVue's previous round, Peterson Ventures, who led HireVue's A-round, new investors Rose Park Advisors, and the law firm of Wilson, Sonsini, Goodrich and Rosati also supported this round.
Fuelled by the emergence of social and mobile recruiting, many companies now receive more than 100 applicants for a given position, and 68 per cent of employers report that more than half of those candidates are not qualified for the position, according to the Talent Board's Candidate Experience Report. What's more, employers are confined by age-old means of screening and interviewing those candidates to narrow the field and find the right talent.
To streamline their hiring processes, more than 10 per cent of Fortune 100 companies currently use the HireVue on-demand digital interview platform, and have reported an improved and more convenient experience for their candidates while being able to screen exponentially more people in less time. The HireVue cloud-based platform makes interviews available on-demand. Qualified candidates simply respond to interview questions at their own convenience from a computer, tablet or smartphone, and employers can then watch interview responses anytime, anywhere. Since responses are captured digitally, they can be objectively compared, rated and shared with other members of the hiring team.
"HireVue's on-demand digital interviews are a game-changer for anyone who's hiring. Already being used by hundreds of global companies and small businesses, HireVue's quickly becoming the new digital standard for making interviewing a consistent, data-driven process," says Phil Dur (pictured), managing director at Investor Growth Capital. "Leading this round of funding is an incredible opportunity for us to be an integral part of a company with tremendous growth potential."
"HireVue is effectively changing the way that people around the world are getting hired," says David Bradford, chief executive officer at HireVue. "Bringing in this diverse, world-class group of funding partners further validates the need for a solution like HireVue's and solidly fuels the company's aggressive plans to modernize recruiting and expand our services to a global job market. With the US unemployment rate at more than eight per cent, despite millions of open jobs, I cannot think of a better time to address this critical problem."
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