'Game-changing' recruitment tech firm attracts investors
A start-up behind "game-changing" recruitment technology has launched an equity crowdfunding campaign to raise at least £250,000 from investors.
London-based Recruitment Smart's SniperAI solution uses machine learning to match CVs and job specifications quickly and accurately.
Developed by a researcher from Carnegie Mellon University and recruitment specialists, SniperAI aims to provide an AI-powered solution to all existing problems around sourcing and screening candidates.
The company, led by co-founders Yusuf Jazakallah and Pawan Lokwani, has been designing and refining the product over the past three years.
It has run pilots with major customers in the UK, US and India and now has three clients with global reach, including technology services giant Infosys.
"At the start of 2017, we started with pilots for customers in UK, US and India," the entrepreneurs said on the crowdfunding page.
"We have three customers with 200 recruiter licenses and larger pipeline across the globe."
READ ’SHOULD YOU TRUST AI?’ IN OUR INTERACTIVE MAGAZINE - CLICK BELOW
The HR Tech Partnership, a specialist VC in the 'people tech' space, is the lead investor behind the current fundraise.
The company will be using the proceeds of the round to continue scaling up business operations while also investing in new product development.
More specifically, the co-founders plan to launch additional pilots with existing leads and grow customer reach and brand awareness through increased marketing spend.
They added: "The global recruitment market is worth £350 billion and growing at an increasing rate. Many organisations are constantly buying and upgrading their IT systems and ATS's in the hope that they can source candidates quicker and cheaper.
"Our product pricing model is aimed to make the recruiters decision an easy one."
At the time of publishing, Recruitment Smart had hit almost 90 per cent of its crowdfunding target.