REDMOND, Wash.--(BUSINESS WIRE)--SeekOut, the AI-powered Talent 360 platform, today announced $65 million in Series B funding led by Tiger Global Management, with participation from existing investors Madrona Venture Group and Mayfield. This capital raise brings SeekOut’s total funding to $73 million and reflects 10X growth in the 21 months since the company's Series A round, while still being profitable. This funding round values SeekOut at close to half a billion dollars.
SeekOut’s hyper-growth has been driven by the critical role it plays in empowering talent acquisition teams to recruit hard-to-find and diverse talent. SeekOut has consistently received high scores and strong reviews in analyst and customer assessments. SeekOut is rated #1 in diversity recruiting software by G2. This recognition comes as top companies across key industries from technology to pharmaceutical to aerospace and banking – have adopted SeekOut. 6 out of the 10 most highly valued companies in the US rely on SeekOut for their talent needs.
"Talent acquisition professionals and hiring managers are looking to go beyond the outdated resume when they do a candidate search. They are seeking a deeper and broader view of skills, experiences, and diversity," says Lisa Rowan, VP HR, talent, and learning research for IDC. "SeekOut’s Talent 360 solution offers a compelling set of capabilities that is supporting hiring organizations with a fresh, modern approach to candidate search."
“Companies must continuously optimize their recruiting processes and strategies to compete in today’s hyper-competitive market. SeekOut provides talent acquisition professionals with a comprehensive 360-degree view of candidates based on numerous data sources and inferred properties. Our intuitive and powerful AI talent search engine with deep talent analytics and engagement capabilities empowers recruiting and sourcing experts to hire the best fit candidates fast. Our customers and partners are our inspiration, through the insights, challenges, and opportunities they provide us every day,” said Anoop Gupta, Co-founder and CEO at SeekOut.
With this Series B funding, SeekOut will continue to innovate and build the team to deliver more value to our customers. SeekOut will expand its Talent 360 platform to encompass internal and external talent – helping companies better retain employees, enable development & growth through internal mobility, and improve diversity and inclusion efforts. SeekOut will also invest in sales, marketing, and customer success to reach new customers.
“Right now, the realization of bringing together diverse global top talent is critical to the success of every software company and the competition for diverse talent is fiercer than ever. From day one, SeekOut’s innovative AI-powered search, global power filters, diversity filters, and talent pool insights have been critical components of Aviatrix’s global growth plan. SeekOut enables Aviatrix to efficiently and intelligently recruit and hire a world-class diverse team, helping us maintain our focus on hiring quality over quantity,” said Mario Linares, Head of Talent Acquisition at Aviatrix.
“People are the most important asset for any company. SeekOut’s Talent 360 platform fundamentally transforms how companies get a deeper 360-degree understanding of talent to achieve success in this era of digital transformation. Just as Customer 360 is transforming the world of Marketing and Sales, we believe the Talent 360 approach will transform the world of HR,” said John Curtius, Partner at Tiger Global. “We are impressed by the customer love and traction SeekOut is experiencing, and we are delighted to be partnering with them on this exciting journey.”
About SeekOut
SeekOut was founded in 2017. The founders collectively hold over 200 issued US patents. With best-in-class technology and breakthrough innovation, SeekOut pushes the boundaries of what’s possible with talent discovery, analytics, and engagement. SeekOut's trusted AI-powered talent search engine enables Talent Acquisition teams to understand any talent pool and quickly find and engage the talent they need -- with a focus on diversity, technical expertise, and other hard-to-find skillsets. We are driven by a mission to provide customers an AI-Powered platform for enterprise talent optimization, ensuring each employee and hire is contributing maximally to company growth and their personal growth. For more information, visit www.seekout.com.
About Tiger Global
Tiger Global Management, LLC is an investment firm that deploys capital globally. The firm's fundamentally oriented investments focus primarily on the global internet, software, financial technology, consumer and industrial sectors. The private equity strategy has a ten-year investment horizon and targets growth-oriented private companies. Such investments have included Spotify, Harry's, Warby Parker, Peloton, JD.com, Facebook, LinkedIn, Yandex, Mail.ru Group, Despegar, Ola and Flipkart. The public equity efforts emphasize deep due diligence on individual companies and long-term secular themes. Tiger Global Management, LLC, was founded in 2001 and is based in New York with affiliate offices in Hong Kong, Singapore, Bangalore and Melbourne.
About Madrona
Madrona (www.madrona.com) is a venture capital firm based in Seattle, WA. With more than 25 years of investing in early stage technology companies, the firm has worked with founders from Day One to help build their company for the long run. Madrona invests predominantly in seed and Series A rounds across the information technology spectrum, and in 2018 raised the first fund dedicated to initial investments in acceleration stage (Series B and C stages) companies. Madrona manages over $2 billion and was an early investor in companies such as Amazon, Smartsheet, Isilon, Redfin, and Snowflake.