A technology company that uses artificial intelligence in recruiting job candidates has raised $4.2 million, including funding from two local venture capital firms.
Humanly.io is headquartered in Seattle and Sacramento, and it raised the recent seed fund from investors including Moneta Ventures of Folsom and Growth Factory Capital in Rocklin.
“We will use the money to scale up the team and the product,” co-founder and Chief Operating Officer Andrew Gardner told the Business Journal.
The company currently has 10 employees, most of whom work remotely, though the company has small offices in Seattle and Sacramento.
The funding this week was led by Zeal Capital Partners in Washington, D.C., and also included Spark Growth Ventures, Basecamp Fund and Y Combinator.
According to venture capital tracking website Crunchbase, Humanly.io has raised a total of $5.3 million since its launch in 2019.
Humanly.io uses artificial intelligence software to automate screening and scheduling of hiring for companies and recruiters. It also has a suite of software that helps recruiters and hiring managers be more efficient during job candidate interviews and virtual interviews over teleconferencing.
The company started in the summer of 2019 when its co-founders went full-time with the company, and it received a $10,000 cash prize winning the Sacramento Kings Capitalize contest in 2020. The company also went through the Mountain View-based Y Combinator accelerator that same year.
Humanly.io is the first funding announced from Rocklin entrepreneur and investor Mark Haney’s Growth Factory Capital fund.
"The pandemic exposed how broken hiring is,” said Humanly.io CEO Prem Kumar, in a news release. "Our amazing customers are leading the way in using Humanly to save time and improve candidate experience. Our 6X growth last year is due to innovative hiring leaders joining us on this journey.”
Gardner declined to disclose the company's annual revenue.
The pandemic has changed how most companies recruit new talent, Gardner said, adding that Humanly.io is helping its clients “navigate this crazy recruiting time.”
