"Alexa of the Human Resources World": A new unicorn is born
The American 'paradox', which developed the equivalent of Amazon's virtual assistant in the world of recruitment - 'Olivia' (a virtual character based on the partner of the company's founder), has completed a $ 200 million fundraiser worth $ 1.5 billion.
The recruitment will enable the expansion of the company's development center
Roast Greenberg
30/12/2021
Thursday, 30 December 2021, 08:41 Updated: 08:58
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Will we soon receive offers for the dream job directly to our mobile phone? The American start-up company 'Paradox', which has developed a digital human resources recruiter called 'Olivia', has announced the completion of a $ 200 million fundraiser at a value of $ 1.5 billion.
These join the $ 50 million raised by the company since it was founded in 2016 by its controlling owner Aaron Metos, and its new value joins it at the prestigious Unicorns Club (private companies worth more than $ 1 billion) just two days before 2021 ends.
Olivia enables automation in the recruitment process and operates on all existing platforms, from filtering and checking the suitability of the resume, through automatic scheduling of interviews and reminders to fill out forms, to accessing information to recruitment teams and automatically sending job offers to candidates.
According to the company, the virtual recruiter has conducted about 30 million job interviews with hundreds of companies and from 50 countries over the past year, and has scheduled about 3.1 million job interviews independently.
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Paradox team.
The team in Israel will also grow next year (Photo: Raanan Gabay)
Job offer in WhatsApp
The company further notes that this is a saving of millions of dollars for companies due to the hundreds of thousands of lost hours of recruitment teams, along with providing an efficient and better recruitment experience for both recruiters and candidates, who are also contacted on nights, weekends and holidays - times when most candidates submit Their candidacies on the one hand, while on the other hand the recruiters are not available.
'Olivia' works on any existing platform, from an application, in which it can be managed, such as the activity of the 'Siri' system of 'Apple', through Internet systems, to synchronization with the companies' recruitment systems.
In Israel, you can get a free plugin that enables some of Olivia's capabilities, and is installed on Google's Chrome browser.
The plugin allows candidates to receive messages in any way they want, the most popular of which, at the moment, is through the WhatsApp app, alongside any other instant messaging app.
Very pleasant, I am your virtual recruiter (Photo: Paradox)
An experiential recruitment process
The virtual recruiter is based on artificial intelligence (AI) and as such she learns each of the conversations she makes, while drawing conclusions for improving the algorithm and the work of the organization, in order to make them faster, more efficient and more experiential.
The main market in which the company currently operates is the United States, and its customers include the following companies: McDonalds, General Motors, Unilever, Nestle, PepsiCo, CVS health, the American restaurant chain Wendis, Citizen Bank, US Express, and more.
Olivia's character has been copied From the character of the partner of the company's founder (see photo), who also worked there in the past - Olivia Metos, but the system itself is based on a development of the Israeli start-up company Spetz.IO, founded by Yael Florenthal, Alon Slutsky, and Yam
Divri
.
Spetz was initially sold January this year for Paradox for an estimated sum of about $ 5 million, and has since become the development center of Paradox in Israel, which will soon expand in light of the latest fundraising.
Yam Dvir, co-founder and co-founder of Paradox Israel
, said, "Human resources personnel and recruitment teams spend an average of 25 hours a week on repetitive technical tasks, which are now becoming redundant with the help of the system we have developed.
Experience shows that the more experienced the recruitment process, the more qualified employees are recruited to it, and with much more motivation.
In Israel, the supplement is free, and feedback has a positive effect on recruitment procedures.
The latest fundraising money will allow the development center in Israel, located in Sharona Tel Aviv, to expand, and we intend to recruit dozens of new employees to our ranks by the end of 2022. "
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Tags
Hi-Tech
start up
Unicorn
Human Resources
recruitment