The funding will enhance AllyO’s efforts to deliver enhanced recruitment solutions to employers across the world.
FREMONT, CA: AllyO, a developer of AI-powered recruitment solutions, recently accrued $45 million in a Series B financing round. The contributions came from Sapphire Ventures and Scale Venture Partners, as well as their existing investors, namely Gradient Ventures, Randstad Innovation Fund, Bain Capital Ventures, and Cervin Ventures. The investment raised its total funds to over $64 million.
The company has witnessed a growth of 450 percent over the last year, and the predictions reveal the utilization of AllyO’s candidate matching suite by almost 15 percent of Americans by the year 2020. The funding will enable the company to enhance the efficiency of recruiting by aiming to prioritize customer success and generate higher ROI for employers.
The conversational AI of AllyO enables the recruiters to quickly identify qualified candidates, thus facilitating the automation of the recruitment process. The hiring managers can draw actionable insights from the recruitment data by leveraging AllyO’s recruitment solutions. Instead of pigeonholing clients into specific platforms, the solution integrates with existing job boards, career pages, social media referrals, and so on.
AllyO’s settings panel allows the employers to configure smart workflows to automate screening, scheduling, and periodic post-hiring check-ins. It can automatically send alerts to prospective employees to complete the missing information and keep their database up to date. It can also determine their fit to the available opportunities in the job market.
The recruitment solutions can be availed in different language across several channels, including web, text, and email, facilitating candidates with seamless interaction capabilities. The sophisticated natural language processing algorithms that underlie the solution enable it to compare job descriptions with employee profiles.
AllyO’s recruitment solution toolset is more effective than others, ensuring a much larger applicant pool. It can boost application completion by 91 percent on average and lower sourcing costs by almost 20 percent. The exponential growth of the company over the last few years has attracted fortune 50 clients as well as brands such as The Cheesecake Factory, Avis Budget Group, Pitney Bowes, and Brinker International. The evolving start-up has aided employers to staff up their workforces in the shortest possible time. Its platform has processed millions of candidate interactions and scheduled over 100,000 interviews.