At a Glance
Filtered.ai, a firm that uses AI to assist businesses in the recruiting process, has secured $7 million in a funding round with Silicon Valley Data Capital and AI Fund. The fund will be utilized to shorten the recruiting period and build a go-to-market strategy for its engineering and developer-focused employment service.
The funds will be utilized to speed up Filtered.ai’s recruiting cycle and establish a go-to-market model for its engineering and developer-focused employment service. Filtered.ai assists in making the hiring process easier by employing AI.
Resumes are frequently a poor predictor of skill, and on-site whiteboard sessions are frowned upon. Filtered is tackling both by offering skills-based take-home examinations with AI onboard to detect fraud. The recruiting business can review those sessions to evaluate how applicants solved difficulties.
Boston-based Filtered also enables businesses to ask candidates open-ended interview questions through video, eliminating the need for formulaic phone screening, which is primarily helpful for delivering full-time employment to junior HR personnel. The company says that its approach can accelerate the time it takes for corporations to make bids.
Since the hiring process has become skill-based with the help of Filtered, CEO and Founder Paul Bilodeau says that the whole job offering system has been revamped. When resumes lose part of their shine and individuals are screened based on skills rather than keyword optimization in their applications, “diversity just happens,” adds Bilodeau.
In an interview with TechCrunch, Bilodeau said that his firm essentially acquired funds on a drip basis throughout 2020 until it ultimately closed its deal in the fourth quarter. That timing was fortunate for Filtered investors because Filtered’s CEO stated that it was the finest quarter in its history.
The reason Filtered chose capital over bootstrapping was, according to Bilodeau, was because the company wanted to hire regularly, not just after closing new deals. To do this, funds were necessary. The business also intended to improve its marketing efforts, mix up its pricing, and shift away from an enterprise sales focus toward a land-and-expand approach. More money would make everything a little simpler, so it chose to go for funding.