Talent Fabric Ltd., doing business as Perfect, revealed today that it has completed a $13 million seed fundraising round as it attempts to compete with established platforms such as LinkedIn Corp. in talent recruiting.
Target Global led today’s round, which also included Joule Venture and RTP Global, as well as a slew of private investors. They included Leon Recanati, Chemi Peres, the Kalish brothers, Oren Rozenbach, Dan Naftali, Uri Levy, Tomer Pomerantz, Nir Adler, and Young Sohn, former President of Samsung Electronics Ltd.
Perfect, headquartered in Israel, claims to have developed a generative artificial intelligence-powered platform that assists enterprises in filling staff shortages by mapping the profile career graphs of millions of technology-focused experts.
The company says it wants to break LinkedIn’s monopoly on the talent scouting market, so it relies on generative AI to help companies search for the ideal signals for each available position they’re looking to fill. Perfect scans dozens of public data sources, including social media and other databases, searching for the ideal candidates whose skills match what an employer is looking for.
Although all of the data it collects on available talent is publicly available, Perfect’s AI search compiles that information into a list of possible applicants for specific tasks, then displays it in an easily consumable style. Its artificial intelligence systems examine each candidate’s information to find the most compatible matches for each position. Furthermore, it takes into account how to open each candidate to a new work opportunity.
Perfect’s talent search tools are free to use, but users have access to extra tools for refining their searches, according to the business.
Perfect claims to have mapped the profiles and career graphs of millions of technology workers in the United States. It stated that it is continually searching public sources for live signals regarding firms, such as layoffs, senior job changes, and other news.
According to Chief Executive Eylon Etshtein, the firm views itself as the “Spotify for talent,” and operates by knowing each organization’s recruiting preferences in order to tailor its suggestions accordingly.
“We bring a true revolution to a world that’s stuck in the past and relies upon manual searches at tools such as LinkedIn that clog the market in the old world,” Etshtein said. “The multitude of shifts in the market requires companies to be precise and quick in their ability to take advantage of the opportunities that arise and to recruit the most qualified workforce.”
Perfect stated its clients include a slew of digital companies, including Incredibuild Ltd., RocketVisor Corp., and even RTP Global, the venture capital group that led today’s investment.
The proceeds from today’s transaction will be used to expand the company’s market penetration efforts and speed product development.
Source – Silicon Angle