BIG DATA
BIG DATA
BIG DATA
Workey Employees Recruitments Ltd. believes that artificial intelligence can make hiring smoother both for recruiters and for candidates.
The Israeli startup, which announced today that it has secured $8 million in funding, runs a job board that employs machine learning technology to match users with open positions. When a professional creates a profile on Workey, the algorithms under the hood check their resume against information from millions of other workers to map out their potential career paths. The results are then used to identify suitable vacancies from the companies that use the service as part of their recruiting efforts.
Job opportunities are displayed in a feed that the startup claims can display positions a professional normally wouldn’t stumble upon on their own, or at least not without a great deal of searching. If a developer has, say, extensive experience with large-scale software projects, the platform might show system architect vacancies.
According to Workey, its service’s ease of use allows professionals to actively look for career advancement opportunities even while they’re employed. This, in turn, enables organizations to court “passive” talent that would be difficult to engage otherwise, creating a broader talent pool for their recruiters to draw upon.
Companies that use Workey also have access to anonymized member profiles through a recruiting tool that makes it possible to seek out and directly contact professionals with the qualifications necessary for a position. In the spirit of privacy, Workey shares a user’s personal details with a recruiter only if they accept an interview offer.
The startup claims that its platform is already used by more than 250 companies, including HP Inc., Cisco Systems Inc. and several other major tech firms. Workey will use today’s funding, which was provided by PICO Partners and Magma VC, to fuel its expansion into the U.S. The effort is run from a recently opened branch office in New York.
Workey is one of several recruiting providers that are using artificial intelligence to help companies broaden their recruitment efforts. Another is Restless Bandit Inc., a three-year-old startup with a service that can analyze old job applications in a firm’s human resources systems to identify suitable candidates who may have fallen through the cracks.
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