Chief Executive Officer of Phenom, Mahe Bayireddi recently said in a video that he believes the “golden age” of HR and talent is yet to come — but it’s very soon. Philadelphia-based Phenom, a recruitment platform that leverages AI to help companies attract new talents, and automate the talent journey for candidates, recruiters, employees, and management.
The company offers a career site, chatbot, crm, cms, sms, and email campaigns, university recruiting, internal mobility, career pathing, diversity and inclusion, talent marketplace, gigs, referrals, hiring management, and analytics.
Phenom’s system of intelligence exists at the core of TXM, built on a vast network of data, contextual industry models, and deep learning. Its intelligence is based on over 25 billion interactions per year – as well as 1 billion-plus candidate profiles across 180 countries; 400 million jobs; 154 million job titles; and 27 million skills in multiple languages.
The HR tech company recently announced it had raised $100 million in a Series D funding round. The round was led by B Capital Group with participation from Dragoneer Investment Group, OMERS Growth Equity, and GoldenArc Capital. Previously, Phenom raised a $30 million Series C round in 2020, a $22 million Series B round in 2018, and a Series A round in 2015.
The company plans to use the funding to grow its presence in global markets and expand its intelligent talent experience platform for enterprises preparing to rebuild the post-pandemic talent economy.
Bayireddi said he didn't think Phenom would raise money in 2021, but a few board members suggested that the company capitalize on the uptick in VC funding happening during the pandemic. He also told the Philadelphia Business Journal that there's “no doubt” the firm will go public, but said completing the Series D rather than moving directly to an IPO was the right move for Phenom in the long term.
The CEO suggests that Phenom’s valuation is $1.37 billion, as he looks for “really high growth” in the next three years.
