SeekOut is designed to help businesses and employees from a broader talent pool; it has recently announced that it obtained $115 million from a Series C round investment led by Tiger Global Management.
The company based in Seattle is valued at more than $1.2 billion due to the raising, bringing the total funds it has raised since its inception on the 1st of January 2017 to $189million. This comes following an increase in sales of 300 per cent, which has boosted its annual recurring revenues (ARR) by 25 between $50 million and $25 million. To better understand the situation, SeekOut raised a $65 million Series B round in March 2021. was led by Tiger Global, valued at $500 million.
SeekOut Funds $115M with 1B Value, Under The Direction of Tiger Global
Anoop Gupta and Aravind Bala, John Tippett, and Vikas Manocha, a team of former Microsoft managers and programmers, came up with the concept that would eventually become SeekOut in 2016. They also began developing an email notification system that provided vast data about people who might be sending emails. The company changed direction in 2017 when the group discovered that their clients were more attracted to the information they were acquiring than their communication capabilities.
The mission of SeekOut is to aid the talent acquisition industry in locating “difficult-to-find and diverse talents.” The number of clients that SeekOut’s service has grown from 500 to nearly 1,000 over the last 11 months, showing that this is a problem many companies confront.
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The co-founder and CEO of the company, Gupta, noted that the clients currently in business have a high retention rate and have increased dramatically. According to market valuations, six of the “most well-known corporations” within the United States are employed by SeekOut, the company, he said but declined to provide specific names. Its clients include various industries, including aerospace, pharmaceuticals and banking and military.
As per Gupta from TechCrunch, “in the last two years, we’ve witnessed an utter change in the workplace and how businesses are engaging with their employees.” The reality is that various variables are at play, and how companies recruit and retain, develop and develop their staff will decide whether or not they live to die.
With its AI-powered talent searching engine and “deep captivating analytics,” SeekOut has amassed a database that includes thousands of user accounts over time. It finds talent by sifting through the vast array of data and utilizing machine learning and natural technology to understand each candidate’s skills, providing a complete 360-degree view of every possible employee. It specifically blends data from the ATS of candidates’ systems, GitHub, graduates of the company, as well as public profiles.