ENGAGE Talent, an AI software company that helps companies identify and effectively engage with passive candidates, has raised $3 million in new funding. Participating investors include Revolution's Rise of the Rest® Seed Fund, Refinery Ventures and Grand Ventures.
ENGAGE will use the new funds to further develop its predictive recruiting technologies and to expand its science/R&D and success teams.
"ENGAGE is a great example of the type of company we are looking to invest in—it's in an emerging ecosystem and using innovative technology to solve a pressing, real-world problem," said JD Vance, Rise of the Rest® managing partner and bestselling author of Hillbilly Elegy. "Its technology has tremendous potential for helping employers recruit and hire more successfully."
"We're excited by ENGAGE's ability to use deep data-driven insights to reveal highly in-demand candidates that would otherwise be undiscoverable," said Tim Schigel, Refinery Ventures partner. "Their technology enables companies to acquire talent more effectively and quickly. This is critical as we enter the Fourth Industrial Wave, during which innovative companies are expected to compete based on their ability to recruit the best talent."
Surveys show that talent concerns are already top-of-mind for many executives. According to the Conference Board's C-Suite Challenge 2018 survey, attracting and retaining talent is the foremost concern for CEOs, as well as the rest of the C-Suite, including CHROs and CFOs.
"We decided to invest in ENGAGE because we believe in the value of their technology and the quality and expertise of their people," said Tim Streit, Grand Ventures partner. "They have a tremendous commitment to using data science and artificial intelligence to help companies be smarter and more effective with their recruiting and workforce planning."
Among ENGAGE's customers are Dell, Hilton, Allstate, Transamerica, Yoh, and Hudson RPO.
ENGAGE has announced a number of innovations over the last year, most recently ENGAGE ME!, a groundbreaking recruiting Marketing Engine. ENGAGE ME! not only automatically identifies the best candidates to target based on a recruiter's specifications, but also the most effective ways to nurture them.
"While we're proud of what we've accomplished, we're eager to use this new funding to accelerate our progress in enhancing and refining our AI recruiting technology," ENGAGE CEO Joseph Hanna said.
About Rise of the Rest®
Rise of the Rest is a nationwide effort powered by Revolution to invest in and work closely with entrepreneurs in emerging startup ecosystems. Since 2014, Steve Case and the Revolution team have logged more than 8,000 miles touring entrepreneurial communities by bus in 33 cities. In 2017, Case and JD Vance announced a $150 million Rise of the Rest Seed Fund, backed by a group of iconic entrepreneurs, executives and investors that believe the next great startup investments are located outside of coastal cities. The fund invests catalytic capital, often alongside regional investors, to the most promising early stage investments in Rise of the Rest cities. Through our bus tours and summits, we look to create a more connected community of entrepreneurs and investors in cities outside of Silicon Valley. For more information, please visit: https://www.revolution.com/entity/rotr/ or follow us on Twitter @riseofrest.
About Refinery Ventures
Refinery Ventures is an early stage venture capital firm in Cincinnati, OH. Founded by Tim Schigel, Refinery supports hyper-growth startups with a focus on leadership and talent.
About Grand Ventures
Grand Ventures, based in Grand Rapids, Mich., provides early-stage capital and strategic support to entrepreneurs building world-changing technology companies for agriculture, manufacturing, transportation, and other global industries with strong Midwest presence. For more information, see www.grandvcp.com.
About ENGAGE Talent
ENGAGE solves a relatively difficult AI challenge: predicting people's job security and likelihood to change jobs based on their professional background, career progression, and events impacting their companies and industries. Recruiters use ENGAGE to conduct market research, identify talent pools to target, and build a pipeline of passive candidates who are more likely to engage in a job change discussion. To learn more, visit http://www.engagetalent.com/ and follow ENGAGE on Twitter @Engage_Talent.
