SeekOut is a company that helps businesses select employees from a larger talent pool. It recently announced that it had secured $115 Million in Series C funding, which was led by Tiger Global Management.
Thanks to the funding, the firm’s total funding since 2017 has risen to $189 million. This comes after a year with 300 percent sales growth, which saw the firm’s annual recurring revenue (ARR), rise to between $25 million- $50 million. For perspective, SeekOut’s $65 million Series A in March 2021 was led by Tiger Global. It is valued at $500m.
Anoop Gupta and Aravind Bala, John Tippett and Vikas Moocha were ex-Microsoft managers and developers who developed the idea for SeekOut, which would eventually become SeekOut in 2016. They also developed a notification system that provided detailed information about people who might be emailing. After realizing that clients were more interested than the communication functionality, the firm made a change in 2017.
SeekOut was founded to help talent acquisition organizations find “difficult to-find and diverse talent.” This is something many businesses face.
Gupta, the CEO and co-founder, said that clients are very loyal and have experienced significant growth. SeekOut is currently working with six of the most highly valued corporations in America, according to market value, he said, declining to name names. The clients include banking, aerospace, pharmaceuticals and military.
TechCrunch’s Gupta says that there has been a “seismic upheaval” in the world work and how companies engage with employees over the past two years. It is all about how businesses hire, retain, grow and develop their employees.
SeekOut’s AI-powered talent search engine has helped to build a massive database with hundreds of millions of accounts. It uses machine learning and natural language comprehension technology to identify talent. It combines data from the ATS systems of candidates, GitHub, graduates, and public profiles.