Sense, an HR tech startup that helps some of the world’s largest staffing and recruiting agencies find and hire talent on time, has raised its valuation to $500 million in a new financing round, according to people familiar with the matter. one person told Nerdshala.
The San Francisco-headquartered startup has raised $50 million in its Series D financing round. SoftBank Vision Fund 2 led the financing round, which raised the five-and-a-half-year-old startup’s growth to date to $90 million. Nerdshala has learned that just six months after Sense closed its Series C round, valuations have jumped manifold.
understand Focuses on catering to blue-collar workers and helping firms manage the entire lifecycle of talent in the firm.
Hiring knowledge personnel can take up to six months, but “in this world, where you’re hiring a warehouse packager, companies need to engage with them today,” Sense co-founder And Chief Executive Anil Dharani explained in one. Interview with Nerdshala. He declined to comment on the assessment.
He noted that most professional social networks and other recruitment platforms are currently designed to serve knowledge workers. “But for people like Uber drivers and Amazon warehouse workers, such platforms are not relevant,” he said, describing the challenge.
The startup, which says it uses automation, artificial intelligence and personalization in its screening processes, has attracted more than 600 customers, including Amazon, Sears, Waco and Kenny, who are using the Sense platform for their hiring. use, he said.
Citing its internal data, Sense said its clients see an average 263% increase in the number of candidates they are able to screen using the platform and an 81% increase in the time taken to fill roles. reduce to .
He added, “Our latest funding is not only a validation of the need for individual talent engagement in today’s candidate-centric world, but also an accelerator for our platform globally as we help reshape the future of work. Huh.”
Sense offers a range of services, including chatbots, Dharani said, to help businesses remove biases from their hiring practices.
He said the startup’s platform has also been used for hiring health workers in the last one-and-a-half years.
Dharani received the idea to launch Sense after facing challenges in hiring talent at his previous firms, said Dharani, who previously co-founded gaming firm Funzio, which was acquired by Gree for $210 million. was acquired.
“We realized that talent is what makes or breaks a company. If you can’t attract the right people, your company won’t succeed. It doesn’t matter what your TAM. [total addressable market] Or the business model,” he said.
“It was with this realization that I decided that the next startup that we were going to do would be around solving the talent space,” he said.
Dharani said Sens is chasing a $200 billion opportunity which is largely untapped.
Sense has also more than doubled its revenue and workforce in the last one year. He said the startup now plans to expand Sense’s offering to multiple markets, including Western Europe.
“We believe the critical nature of the Sense platform in enabling enterprise customers to rapidly find and hire quality talent is evident in their ability to positively transform us as it expands nationally and globally. There is no doubt about how companies build great teams and compete,” Sumer Juneja, managing partner at SoftBank Investment Advisors, said in a statement.