Discovering the necessary talent is a pain point for most companies, but especially the smaller ones that don't necessarily have the resources of their larger companions that have systems in places for taking care of that work. Greenhouse, the recruiting platform, however, is looking to alleviate the difficulties of that process, and investors are interested.
The company said it has raised a new $50 million financing round from Riverwood Capital, bringing its total funding to $110 million. Greenhouse definitely isn’t the only company that’s starting to pick up a significant amount of funding recently by trying to crack open the process of talent acquisition and make it a little more data-driven. But as the cost and difficulty of collecting enormous amounts of data on different kinds of human activity has dropped with the emergence of new machine learning tools, the problems behind recruiting may also be one that can get a lot of help from employing the same data science rigor that powers a smart Google search result.
“Hiring tools and software in the market had been built for the previous generation, with an applicant tracking mindset to cover the basics of collecting resumes on your website,” Greenhouse CEO Daniel Chait said. “We saw that winning companies in the talent market were ones who were able to attract the right talent, identify difference makers in a sea of LinkedIn profiles, make really smart decisions in who to hire, deliver winning experiences, use data to optimize. They needed tools to accomplish those goals and much broader than the recruiting software.”
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