Pymetrics, the game-based recruiting tool that uses neuroscience and AI to help corporations recruit top talent, announced this month that it had closed on $40 million in Series B funding. The round was led by General Atlantic and was joined by other firms, including Salesforce Ventures, Khosla Ventures, Jazz Venture Partners, and Workday Ventures.
The company plans to use the funds to accelerate international expansion and to reinvest in product development. The business currently has offices in London, Singapore, and Sydney, with headquarters in New York.
According to founder Dr. Frida Polli, the company seeks to use technology to maximize time management human potential in the hiring and recruiting process. A particular emphasis is on eliminating biases in the hiring process. The company has received numerous accolades for its work, including being named a Technology Pioneer by the World Economic Forum. Pymetrics is also a 2014 graduate of the Partnership Fund of New York and Accenture’s Fintech Innovation Lab.
Polli, an award-winning Harvard and MIT-trained neuroscientist, founded pymetrics in 2013. To date, the company has raised $58 million in funding, one of the highest levels possible for a female-led company. Currently pymetrics has over 60 enterprise clients and uses algorithms to assess the inherent cognitive and emotional make-up of top-performing employees to build a profile which can inform future hiring decisions.
Aside from recruiting, pymetrics also focuses on adapting client approaches to internal mobility, workforce insights, reskilling and training, and connecting internal candidates with roles that best utilize their particular skill sets. Pymetrics software also connects candidates who are not a good fit for the position with roles at other companies where they might be better suited. It’s a customer-service approach to the job search process.
The technology has been used on over 1 million potential job candidates and is compliant in 68 countries and in 16 languages. It is available on Android and iOS apps as well as in a web-based application.
General Atlantic has approximately $28 billion in assets under management and invests in a portfolio across four sectors: Healthcare, Technology, Financial Services and Consumer Products. Recent notable investments include Slack, Crowdstrike, Automation Anywhere, and OpenDoor.