Curated Intel from the Talent Tech Industry
March 20-26, 2023:
• Helping to keep an eye on AI: Monitaur secures $4.6M in funding for its governance solution;
• Talking about applicant tracking: Paradox launches industry-first conversational ATS;
• Playing catchup: Study finds U.S. DoD behind the private sector in recruiting for civilian jobs;
• Getting to Series A now harder: Crunchbase data reveals investments have fallen for 5 months
• Helping to hire tech talent faster: Karat acquires adaptive assessment solution Triplebyte.
• Early Bird Discounts end March 31 for TAtech North America & The World Job Board Forum, to be held in Austin, Texas USA on May 22-24, 2023. Some of the smartest and most successful people in the talent acquisition and talent technology fields are speaking at this one-of-a-kind event. It is the only conference totally focused on the providers of talent technology and their bottom-line success. You’ll hear from the right innovators, make the right connections and have the right conversations to propel your business growth. So, register today before the Early Bird Discounts end and the price of admission goes up.
Monitaur Secures $4.6 Million in Funding
Monitaur, a Boston, MA-based AI governance software company that provides advancements in AI governance and assurances for the insurance industry has secured $4.6 million in funding. The round was led by Cultivation Capital, with participation from Rockmont Partners, Presidio Ventures, Plug and Play, and Studio VC. “Building responsible and trustworthy AI is a complex challenge for insurance companies,” said Monitaur CEO Anthony Habayeb. “Our strong value proposition, commitment to the broader ecosystem, and shared vision with our new investors are fueling the company’s growth, and we are well-positioned for the future.” Monitaur was founded on the mission to deliver software enablement of governance and assurances as the key driver of trust and confidence in AI.
Paradox Launches Industry-First Conversational ATS to Revolutionize High-Volume Hiring with Chat- and Text-Driven Automation
Paradox, the conversational hiring software helping global employers like Unilever, Nestle, L'Oreal, CVS Health, and General Motors transform hiring with automation that gets recruiting work done faster, today announced the launch of its Conversational ATS. Designed from the ground-up to completely reimagine the high-volume hiring process, the product obsessively focuses on delivering the best frontline candidate and hiring manager experience in the world. Underpinned by a conversational UI that makes engagement feel simple and seamless, Paradox's ATS automates things like screening for requirements, interview scheduling, reminders, offers, new hire onboarding, and more. The product is already helping global clients dramatically reduce time-to-hire to hours or days, instead of weeks — and deliver frictionless experiences that candidates love. "We didn't want to build just another ATS — so, we didn't," said Paradox founder and CEO Aaron Matos. "Our mission has always been to help our clients get work done faster, so they can spend more time with people, not software. We believe at our core that conversational experiences will become the new enterprise user interface, and this is a step in the right direction in the journey to change that paradigm."
DoD decades behind private sector in recruiting talent for civilian jobs, study finds
An influential Defense advisory board has a harsh critique of the Defense Department’s strategies for recruiting talent into its civilian ranks: There isn’t much of a strategy at all. The new Defense Business Board (DBB) study also found the Pentagon, as a general matter, doesn’t have a discernable talent pipeline for civilians, and that little effort has been spent to market DoD as an attractive civilian employer. The board believes those and other factors put the department at a severe disadvantage to other employers, especially when it comes to mission-critical occupations with intense private sector competition, like nurses, software developers and logisticians. According to research the board conducted for a forthcoming written report, DoD has about 15,000 people who work full time to recruit members of the military. But after seven months of study, the board could only identify about 100 people whose primary job it is to recruit civilians. About half of those are in the Air Force. Instead, the “recruiting” task falls, by and large, to DoD’s HR specialists. But they have a lot of other responsibilities too, including posting jobs, developing HR policies and resolving personnel issues, said Matthew Daniel, a member of the DBB task group who led the study.
Getting To Series A Has Gotten Harder
For seed-funded startups, the odds of graduating to a Series A round have never been particularly favorable. But as venture funding contracts, the chances have gotten even slimmer. That’s the broad finding from our latest perusal of U.S. Series A funding, which shows that investment is on track to hit the lowest quarterly total in over two years. Things have been heading lower for a while now. Per Crunchbase data, Series A investment has fallen for five consecutive quarters, since peaking in late 2021. Even though funding is down, there’s still an enormous chunk of change going into Series A. So far this year, investors have poured close to $4.5 billion into the deals at this stage nationwide. They’re writing some big checks as well. At least five startups secured Series A investments of $100 million and up, and about 35 rounds exceeded $30 million.
Karat Acquires Leading Adaptive Assessment Technology From Triplebyte
Karat, the world’s largest interviewing company, today announced the acquisition of Triplebyte’s technical assessment product and team. The acquisition adds a unique top-of-funnel, skills-based assessment to Karat’s suite of Interviewing Cloud offerings, helping organizations identify and hire the best tech talent faster, more accurately, and fairly. The ability to quickly make confident hiring decisions is more important now than ever, especially for organizations seeking to improve their hiring quality and candidate experience. Today, Karat’s clients trust the company to conduct in-depth, high-quality interviews for software engineers. With this acquisition, Karat gains an adaptive assessment technology that dynamically adjusts to the skill level of each candidate, collecting more information from each question asked. This enables recruiting and engineering leaders to unlock high-volume applicant pools, reduce the bias found in resume screens and keyword searches, and confidently advance the right candidates to interviews.
Early Bird Discounts End March 31 for TAtech North America & The World Job Board Forum
Early Bird Discounts end March 31 for TAtech North America & The World Job Board Forum, to be held in Austin, Texas USA on May 22-24, 2023. This is the only conference totally focused on the providers of talent technology and their bottom-line success. Unlike the conferences that treat talent technology companies as a subset of HR tech, this event is specifically designed to advance the growth of job boards, aggregators, talent marketplaces and the enterprises that offer programmatic solutions, conversational AI products, recruitment marketing solutions, recruitment advertising services, candidate management platforms, and interviewing and assessment systems. If that’s you, don’t miss this opportunity to hear from the right innovators, make the right connections and have the right conversations to propel your business growth. Register today before the Early Bird Discounts end and the price of admission goes up.