For years, Malik Kahel and Andrew Hallberg have been working together either as students in the Willamette University MBA program or on different startup ideas.
Their latest foray is HirelyAI, a tool they are developing to help companies streamline the hiring process and remove some of the bias that can come when teams sort through hundreds or thousands of resumes.
The duo are in the current class of Portland Incubator Experiment and will be presenting on Demo Day, Aug. 10.
Kahel and Hallberg aren’t HR and recruiting professionals, but they come at the problem from the candidate side. Kahel has been up for jobs with others who have similar experience, but he will be the one who isn’t contacted and he suspects the name Malik is what causes people to hesitate.
“A name or a university can put you (and your resume) in a ‘yes’ or ‘no’ pile quickly,” said Hallberg.
Last fall, the two nailed down the idea of using emerging AI technology to help in this process. They have been building out the product this year and they hope to have some early beta testers onboarded soon.
The two are targeting small or mid-sized businesses to work with as they dial in the technology.
The technology/product: An AI-powered hiring platform that focuses on non-bias hiring practices and leveling the playing field for all job candidates. The product uses artificial intelligence and machine learning to conduct initial interviews with candidates and assess qualifications and potential. The product is meant to streamline the process as well as surface candidates that may have otherwise been missed. It can also help offer feedback to candidates through the process.
How it makes money: The company charges businesses a subscription for access. Employers can choose among pricing tiers that offer different features and levels of support. The company also offers additional services such as customization and integration to existing HR systems for added fees.
Size of market: The global human resources and recruitment services industry is valued at $761.6 billion in 2023. With increasing demand for streamlined and efficient hiring solutions, HirelyAI is targeting a significant portion of the market. The startup is catering to businesses of all sizes and industries.
Competition: HirelyAI operates in a highly competitive market alongside several key players, including established companies such as InterviewerAI, SapiaAI and LinkedIn Talent Solutions.
Competitive advantage: HirelyAI developed an AI-powered bot called Eva. The software is designed to conduct interviews, evaluate skills and experience and offer fair and unbiased evaluations. Eva can take the information from a resume, chat interviews and eventually video interviews and summarize the contents.
Business it could disrupt: HirelyAI’s software challenges traditional practices by automating manual screening processes, thereby diminishing bias and enhancing overall efficiency. The startup sees itself introducing innovation to the recruitment space and challenging traditional methods of hiring.
Investors: None yet, but the company is seeking venture capital or angel investment from partners.
Capital sought: The team is finalizing details on their funding round. They are pursuing funding to build a customer base and drive growth.
Ideal exit: Strategic acquisition by a large HR or recruitment-focused company that would allow the team to scale the platform to a broader audience.
Closer look
Company: HirelyAI
Headquarters: Portland
Founded: 2023
Employees: 2
Co-founders: Malik Kahel, Andrew Hallberg
Web: www.hirelyai.com
