Findem closes $30 million in Series B funding
When Raghu Venkat and I launched Findem from stealth mode just over a year ago, we had no idea the world was about to enter such a disrupted talent market.
Our vision had been clear—fix the broken talent acquisition process. And that’s exactly what we’re accomplishing as evidenced by 500% customer growth. With our sophisticated technology at their backs, companies like RingCentral, Medallia, Google, Booster Fuels and Heap are finding—not just searching—for top-quality talent, filling their pipelines with diverse candidates and nailing their goals one by one.
With that, I announce with pride and gratitude that Findem has raised $30 million in Series B financing. This round brings our total funding to $37.3 million. Four Rivers and Quarry Ventures led the round, with participation from our existing investor Wing Venture Capital. We are encouraged by their support.
“The talent war is raging right now and companies can’t hire fast enough, and Findem’s technology is the secret weapon to help recruiters find those prime candidates that competitors simply can’t. Findem is applying AI to the candidate search process in a way the industry hasn’t seen before and reinventing how companies find quality talent and build great teams.”
Farouk Ladha - General Manager at Four Rivers
The talent acquisition problem
As an engineer turned entrepreneur, I’ve always been motivated to solve the hardest problem with the biggest impact. Finding quality talent and building great teams is harder than ever, and that’s not just fallout from The Great Resignation or Reshuffling.
Most talent searches begin with a recruiter clicking through hundreds of profiles or keyword-based search results to find a few quality matches. This process is inefficient, riddled with bias and simply unscalable.
What talent teams are really looking for is key attributes–a combination of skills, experience and qualities–that are needed to complete the team. Remember Moneyball? The Oakland A’s fielded the best team in baseball by acquiring players with complementary attributes rather than a group of loosely connected superstars.
Attributes can be anything a talent leader or hiring manager could possibly define. We’ve seen searches built to find all kinds of people including: a SaaS manager who saw a company from its Series B through to a successful IPO, an engineering leader with validated code who inspires loyalty and a CMO who builds diverse teams.
Using AI and contextual logic, our platform indexes people data from more than 100,000 public sources and finds candidates based on their relevance to what’s missing from your team.
Finding purple squirrels
We’ve built an AI recruiting platform unlike anything that exists and, with that, we’re enabling recruiters, sourcers and other talent leaders to achieve the unthinkable.
Purple squirrels (candidates who are perfect for a particular job) are hard to come by, but we’ve managed to find them for our customers, as well as our own team, using the Findem platform. Searching by attributes also helps reduce bias in the sourcing process and generate more diverse talent pools, a key benefit to our customers.
We hear about this impact directly from our customers.
“Since Findem came into the picture, we’ve increased our talent pipeline with top-quality, interested candidates by a substantial 22% and massively increased diversity at each stage of our talent funnel. We have 40% more interested candidates from underrepresented groups than before Findem.”
Alvin Lam - Vice President of Global Talent Acquisition at RingCentral
''Diversity in hiring is a top priority at Medallia, and Findem has helped us crack the code to gain insights into our talent funnel through a diversity lens. With data and deep analytics guiding us, we achieved a three-fold increase in candidates from under-represented groups in our pipeline in less than two weeks. I’d call that impressive by any talent acquisition team’s measure.”
Tey Scott- Senior Vice President of Global Talent Acquisition at Medallia
In the race to find and hire top talent, giving recruiters more time to close higher-quality candidates in a more personal way is key. Using attributes to increase the quality of outbound sourcing and find existing candidates in your ATS is just the start.
With this funding, Findem will help talent teams accelerate hiring in more ways. More aspects of our platform will become accessible to everyone in the hiring process with the click of a button. Findem will expand to parsing job board applications to identify quality candidates in record time.
Building our own winning team
Our success is explicitly tied back to the excellence of our own team. They give their heart and soul every day because they believe in our product, they believe in our mission and they lift each other up. Almost half of the company has been sourced using the platform. The people behind Findem are a testament to what can be achieved when great teams are built.
Success is best when it’s shared, so a huge thank you to everyone who’s been involved in getting Findem to where we are today. And we’re just getting started. Join us!