The next-gen AI solution for career development and recruitment platform, Workey has launched its platform in the US. Before that, the company had a successful Beta experience in both Israel and the US. Along with the launch, the company closed the deal of $8 million in its Series “A” funding round. This round was led by PICO Partners and Magma VC.
Commenting on the company, Elie Wurtman, veteran investor and Managing Partner of PICO, said:
PICO sees Workey as the future of career advancement technology. The platform takes career development a step further by utilizing advanced AI and machine learning to provide users and companies with the most relevant career opportunities. Workey is revolutionizing the way people and companies handle career opportunities, making it far more accessible and efficient than ever before.
Founded in 2015 by Ben Reuveni, Danny Shteinberg, and Amichai Schreiber, Workey is an anonymous social recruitment and career enhancement platform. The company has revolutionized HR through AI and machine learning based in Tel Aviv and New York. The company’s AI platform compares a user’s skill set and career history with millions of others, to provide data driven recommendations for smart career moves.
On the investment, Danny Shteinberg, CMO of Workey, said:
The 2016 Deloitte Millennial survey shows that 2/3 of Millennials expect to leave a company within four years. However, it’s clear that the traditional recruitment process is inefficient and outdated for not just Millennials, but for employees across the board.
Further adding to that, he said:
Far too often people leave one job for another without clear direction and without necessarily supporting their long-term aspirations. Unlike other job sites, Workey does not merely aim to find people a job, our aim is to help people take steps that build a career by providing a true reading of the job market and an individual’s potential
The anonymous platform taps into the passive talent market, providing those who do not want to actively seek a new job the visibility to see what better opportunities are within their reach in real time without the risk of anyone finding out. Moreover, the site facilities quality introductions between thousands of companies and potential employees, by smartly suggesting potential fits to both companies and users, harnessing social connections in the process.
The successful Series A funding is followed by the completion of a positive Beta phase in Israel and New York, working with over 200 companies including Amazon, HP, SanDisk, and Yahoo.
On the development, Omri Perek, Recruitment Manager at Yahoo Inc., said:
In a candidate-driven market, Yahoo always strives for innovative approaches to recruitment, and Workey has proved to be an invaluable service. The smart recommendations and quality introductions facilitated by Workey, combined with it’s easy to use and welcoming platform, has enabled us to fill multiple positions with ideal candidates.
Some of the major benefits of using the platform are as follows. Firstly, the company provides a 100% anonymous, encouraging passive talent to grasp opportunities that would previously have been missed. Secondly, the company only shows users positions that are relevant to the user’s specific capabilities. Along with that, the company’s analysis of millions of career paths and subsequent recommendations empowers people to make smart career moves to achieve their goals, plus opportunities they didn’t know were available to them.
Moreover, the company only shares candidate’s details with HR managers, once the user opts to share their details. The company also utilizes social connections, showing potential connections between yourself and the companies you are interested in.
The funding will be put to immediate use, with Workey opening its first US office in New York City, with hiring already underway.