HireLogic CEO Anirban Chakrabarti says one of the most pressing challenges in the human resources space is filling open positions.
His company, a Dallas-based software startup with a goal of improving the job interview process, aims to do just that with the help of a $4 million seed funding round from a handful of individual investors—including former Motorola CEO Edward Zander, Guidepost Growth Equity Partner Mike Pehl, and Ritchie Bros. CEO Ann Fandozzi.
“There is a lot of turnover at the lower end of the market, and a lot of competition at the higher end,” Chakrabarti told Dallas Innovates via email. “This also creates a situation where there’s a desire to ‘fill the seat’ quickly, and that’s when quality of hire can start to slip.”
Streamlining the screening process
HireLogic’s platform helps HR professionals assess applicants across their hard and soft skills—as well as their fit within the company culture—by incorporating artificial intelligence and machine learning to help automate the screening process. The company’s platform also provides “bias-screened” interview templates and interview insights to help streamline hiring while also increasing diversity, equity, and inclusion in the workplace.
As more companies are using virtual interviews, HireLogic said it’s currently offering candidate ranking, structured interview, and insights services for free to businesses. A paid plan integrates with a business’s existing applicant tracking systems.
“There are over 30 million interviews taking place monthly, or 1 million interviews a day, and many of them are happening virtually,” Chakrabarti said in a statement. “Our mission at HireLogic is simple: to improve the experience of these interviews, and help organizations gain insights from interview data to make faster, better hiring decisions.”
The company says it combines the collective experience of recruiters with software. The startup was formed in Q1 of last year by co-founders and HireLogic board members Nancy Albertini, Buster Houchins, and Umesh Ramakrishnan—all of whom hold leadership roles at global executive search and consulting firm Kingsley Gate Partners. HireLogic is currently officed on the edge of Northwest Dallas.
“We have embedded decades of best practices into the solution, trained our machine learning models with expansive data, and accelerated our product maturity through real-world feedback across hundreds of interviews a month,” Ramakrishnan, who serves as Kingsley’s CEO, said in a statement.
With the new funding, HireLogic said it plans to bolster its technology as it kicks off its go-to-market activities, including the launch of an app that will provide similar capabilities for phone or in-person interviews. The company said it also plans to expand its 20-person team.
“If employees are the lifeblood of companies, then hiring the right employees is critical, not just to survive, but to thrive,” Ramakrishnan said.
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