Hirize a Miami-based startup founded by Esranur Kaygin and Eren Yasarkurt, one of the newest and most promising players in the HR tech scene focuses on providing businesses with groundbreaking AI solutions to screen resumes and match applicants with greater accuracy, announced its pre-seed funding this week.
The company enables HR departments to use Big data models and predictive analytics to build a more accurate list of potential candidates and include them in their talent screening process. From there, Hirize not only filters candidates who are the best fit for the job but also predicts how long a potential new employee will stay with the organization.
The pre-seed stage investment was led by Startupfon. Along with APX, DOMiNO Ventures and Sankonline took part in the investment round.
Hirize, with an accuracy rate of 89% has presently one of the most sophisticated AI-based recruitment technologies, plans to use the funding to expand its go-to-market team, maximize the success of the AI, and get ready for its official launch.
Resumes and the HR market are continually evolving, we see this in the design and terminology used in resumes which makes them difficult to interpret for existing AI technology. When combined with a strong employment market that shifted power from employers to job seekers, this created a recipe for a highly competitive recruiting environment for employers. ” Companies nowadays focus on hiring faster, not missing out on good applicants and not losing sight of employee branding. In addition, organizations place a high priority on staff retention; USA firms lose $1.5 Billion annually due to employees who leave too soon,” said Esra Kaygin CEO and Founder of Hirize.
The primary issue is that there has been a prolonged stalemate in the HR-tech solutions we’re presented in the form of managing processes rather than developing cutting-edge technology. We at Hirize believe we can apply this forward-thinking vision to HR tech.
The funding round was led by Amsterdam-based Startupfon. The VC firm works with entrepreneurs in high-growth industries to build lasting companies.