ENGAGE Talent, AI recruiting company, has recently secured an additional $3.5 million in capital during a funding round led by High Alpha Capital and Grand Ventures.
The Charleston, SC-based startup plans to invest heavily in product acceleration and customer acquisition.
Existing investors, new investor Engage fund, and Silicon Valley Bank also participated in the fundraise, which included a mix of equity and debt-based capital. ENGAGE has also been previously backed by Revolution’s Rise of the Rest Seed fund and others.
Founded in 2015, ENGAGE is the result of decades of research on job turnover and candidate behavior. The AI platform analyzes more than a billion data points each month to map and predict when passive candidates will be ready to change jobs.
Some of the factors it considers are things like the candidate’s professional background, the current job market, and specific company events.
Recruiters can then be ready to actively engage those candidates. The startup counts enterprises like Allstate, Dell, and Transamerica amongst its customers, and claims to generate anywhere from a 200-700 percent increase in candidate engagement.
CEO Joseph Hanna says the platform has also added new features that aim to improve employee retention for clients. It analyzes current employees, applying a similar algorithm to the recruiting feature, and assigns a retention risk score.
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