Advanced Interviewing Platform Vervoe Announces $3.5 Million Funding Round Led By Seek
Capital will be used to develop machine learning technologies that rank candidates based on how they perform.
- (1888PressRelease) May 23, 2018 - New York, NY — Vervoe, an advanced interviewing platform, today announced a funding round of USD $3.5 million, led by global employment marketplace operator, SEEK (ASX: SEK).
Co-founded by Australian entrepreneurs Omer Molad and David Weinberg, Vervoe is a new way of interviewing that helps emploers and recruiters test the technical and personal skills of hundreds of candidates simultaneously, using simulations written by experts in their respective fields from companies including eBay and Tesla. Candidates can prove their skills by taking customized tests, completing work samples, and executing on-the-job tasks, reducing or eliminating the need for résumé screening which can lead to biases in hiring. Vervoe has worked with top brands such as Uber, F45 and AKQA to streamline their interviewing processes using the platform’s technology.
The funding round of USD $3.5 million is led by SEEK, global leader in the creation and operation of online employment markets, who will be contributing USD $2 million. Additional investors include Jesse Hertzberg, former COO of Etsy and Squarespace, Zachary Lewy, Founder of Arrow Global Limited, and RusIan Kogan and David Shafer of Kogan.com. In addition to the investment, Vervoe and SEEK are in discussions surrounding a strategic partnership.
Ronnie Fink, SEEK Managing Director of Corporate Development, said “We are pleased to support Vervoe in their growth ambitions. We know candidates are looking for ways to demonstrate relevant job skills and employers and recruiters are seeking confidence and efficiencies in the short-listing process. Vervoe is making great inroads leveraging technology to address these problems.”
The capital will be used to develop machine learning technologies, which will rank candidates based on how they perform in online simulations against an employer’s hiring requirements. Using machine learning, employers and recruiters will also receive thorough insight into each candidate’s character. The capital will also be used to build Vervoe’s global sales team and further expand its customer base, as well as developing new and existing features.
“I love the fact that by giving every candidate a chance to be interviewed simultaneously we’re making hiring about how people perform, not their backgrounds,” said Vervoe CEO, Omer Molad. “That’s our mission at Vervoe, and this capital raising gives us the opportunity to bring our way of interviewing to more companies around the world.”
As a result of the raised capital, Vervoe will expand its Board of Directors and add to its senior leadership team. Daniel Benor will join as Head of Product in the coming months to further drive the company’s product innovation and user adoption. Benor joins Vervoe after over two years as HoneyBook’s Director of User Experience. Dr Orin Davis has also joined the company as Head of Behavioral Science to curate tailored assessments for Vervoe’s larger customers. The Board of Directors has expanded to include Spencer Greene and David Shafer, Vervoe’s first investor.
“Vervoe is revolutionizing the way employers assess candidates,” said David Shafer, Vervoe investor and COO of Kogan. “In an environment today where top job ads can generate hundreds or even thousands of candidates, Vervoe’s system represents the future of intelligent candidate filtering and selection. I am proud to have been Vervoe’s first external investor, and I look forward to further participating in the company’s journey as a member of the Board.”
Vervoe has been used by over 4,000 companies and tens of thousands of candidates in 75 countries worldwide.
For more information on Vervoe, please visit www.vervoe.com.
About Vervoe:
Vervoe is a new way of interviewing that replaces face-to-face interviews with online simulations. Vervoe believes that hiring should be based on merit, not resumes. Founded by Omer Molad and David Weinberg, Vervoe allows companies to hire with confidence using online simulations, customized tasks, and work samples to evaluate candidates. Vervoe has been used by over 4,000 companies and tens of thousands of candidates in 75 countries worldwide.
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