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Mya Systems Secures $18.75M in Series C Round of Financing

By HR Tech Outlook | Friday, April 10, 2020

Mya helps candidates navigate through the entire hiring experience from job search and onboarding to career advancement. The proceeds from the recent investment round would accelerate the company's growth in the coming years as it helps customers automate the employee sourcing process

FREMONT, CA: Mya Systems, a conversational AI developer, closed $18.75 million in a Series C round of financing. Notion Capital participated in the round, along with existing investors Emergence Capital, Foundation Capital, and Workday Ventures. Mya founder and CEO Eyal Grayevsky said the new funds would accelerate the company's growth in the coming years as it helps customers automate the employee sourcing process. Headquartered in San Francisco, Mya has raised over $50 million to date.

Mya helps candidates navigate through the entire hiring experience from job search and onboarding to career advancement. It attracts best-fit candidates for open roles by reactivating profiles within employers' databases and boosts career sites by suggesting relevant openings to job seekers. Mya also engages with applicants to start the screening process, answer their questions, assess eligibility, and deliver a ranked shortlist to recruiters. It also automates scheduling, providing reminders and updates while managing rescheduling and cancellations.

The company has a platform dedicated to real-time feedback and engagement to help identify and reduce turnover risk. Moreover, it encourages workers to progress in their careers by connecting with them before the end of their contract and matching them with new job opportunities.

Empowered by AI and machine learning Mya captures useful information using semantic parsing, named entity recognition, and multiple intent classification. It can understand context, changed answers, multi-part statements, and interjections as well as can change the direction of conversations to an intended goal. It does all this while handling idiomatic phrases, various languages, and slang across messaging channels. According to Grayevsky, the algorithms bearing these capabilities continuously learn from millions of interactions, enabling Mya to constantly improve the accuracy of its responses and expand its knowledge.

Mya works with existing hiring products, including calendars, job boards, talent communities, messaging apps, and more from technology providers like Bullhorn, SmartRecruiters, Workday, Greenhouse, and SAP SuccessFactors. Grayevsky claims that the tech and platform have achieved an average 93 percent screen completion rate and 79 percent time-to-interview reduction, with a 2.5 times increase in funnel conversion and a 144 percent gain in recruiter productivity. It also helped Mya to schedule more than 400,000 interviews with qualified candidates.

Check out: Top Artificial Intelligence Companies

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