Investment to boost impact of recruiting platform on efficiency for talent acquisition teams and fairness for millions of applicants
NEW YORK, June 27, 2023 /PRNewswire/ — Datapeople, the SaaS recruiting predictability platform, today announced the completion of an oversubscribed $13 million Series A funding round. The round is co-led by GreatPoint Ventures and New Markets Venture Partners, with the participation of existing investors including First Round Capital, NextView Ventures and Uncork Capital as well as operator syndicates Gaingels and FOG Ventures. The funds will be used to scale Datapeople’s go-to-market function and increase the delivery of new features and products.
“Hiring teams today are under pressure to efficiently drive and sustain growth with talent, which is exactly where Datapeople is having a real impact with its customers,” said David Resnekov, Associate Partner, GreatPoint Ventures. “We invested in Datapeople because they’re solving a major problem by giving recruiting leaders intelligence and control throughout the hiring process, starting with the job description.”
“What got us really excited about Datapeople was hearing from their customers, which include some of the world’s largest brands, on the impact and ROI that Datapeople has delivered to their recruiting efforts. Datapeople has been able to achieve impressive traction while also delivering on a promise of a more equitable future, which convinced us to be part of this journey,” said Robb Doub, Co-Founder and General Partner, New Markets Venture Partners.
“We began using Datapeople to elevate our job postings, primarily for our corporation hiring initiatives. We’ve seen numerous benefits despite the tough recruiting conditions – the number of applicants doubled (108% more female candidates), and we’ve reduced our time-to-fill by an average of 7 days,” said Neil Crumpton, Senior Director, Talent Acquisition at Conagra Brands. “The results have been so clear and the tool is so user-friendly that we have now rolled out Datapeople across all our 46 locations.”
Datapeople brings data-backed objectivity, efficiency and predictability to talent acquisition, beginning with optimized job descriptions and following with reporting and analytics on recruiting processes and performance. Since 2022, more than 10,000 users have edited 170,000 jobs in the Datapeople platform. According to Datapeople’s research, customers who follow Datapeople’s in-app recommendations see:
107% more qualified candidates
79% more qualified female candidates
18 fewer days needed to fill open roles
“Talent acquisition is facing multiple challenges today, including uncertain economic times, scrutiny on hiring spend, and labor market tightness, while also being expected to continue to deliver with leaner teams and smaller spend,” said Amit Bhatia, CEO and co-founder of Datapeople. “The control over processes and outcomes that Datapeople provides is essential, as well as our ability to help with meaningful improvements in hiring quality, diversity, speed, and cost.”
Today’s news follows the launch of Datapeople Anywhere, a browser extension update released in response to the rise of the use of Generative AI technologies for job postings, which works on top of any applicant tracking system to ensure all job descriptions, whether written by recruiters, hiring managers, or generative AI tools, are clear, compliant, and inclusive before posting.
Datapeople’s data-informed recommendations are powered by a database of over 65 million job posts and millions of hiring outcomes to examine job posts holistically: both on content (what is said) and language (how it is said). Beyond this, Datapeople’s bias guidance identifies eight forms of bias including racism, tokenism, ableism, ageism, sexism, nationalism, religious bias, and elitism. Datapeople’s Job Score helps users understand how their content is likely to perform in the local market across a range of dimensions including candidate pool volume, quality and diversity.
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