Announcing our $2.5M Seed Funding to Reshape the Future of Recruitment
Announcing our $2.5M Seed Funding to Reshape the Future of Recruitment
Aug 1, 2024
Aug 1, 2024
Skillfully, a leader in simulation-driven hiring solutions, is thrilled to announce that it has raised $2.5 million in seed funding. The round was led by Better Ventures, with participation from Silicon Valley Quad, American Student Assistance, Strada Education Foundation, FN Fund, and Inventus Capital Partners.
Our team has successfully developed a cutting-edge hiring platform that integrates advanced AI tools with a modern skill taxonomy designed for today’s workforce. This fresh capital allows us to extend our solutions to more of the world’s top employers, setting a new gold standard for skills-first employment across roles in professional services, sales, and staffing.
Founded on the belief that the current approach to finding, securing, and thriving in employment is fundamentally broken, Skillfully aims to address the shortcomings of traditional resume-driven hiring practices. In an industry transformed by AI, these outdated methods fail both employers and job-seekers.
Recruiters have historically relied on resumes, cover letters, and online profiles to gauge applicants’ skills. However, this method has become increasingly inadequate, with 90% of application materials now enhanced by GenAI tools like ChatGPT, leaving employers inundated with resumes. Yet, the same underlying technology that powers these AI tools can also revolutionize recruitment through what we call “experiential” hiring, creating a job market that is fairer, more inclusive and skills-centric.
Experiential hiring uses virtual simulations of workplace challenges to shift recruiter focus from conventional descriptions of skill to verifiable demonstrations of skill. Skillfully’s HiredNow product offers fully customizable simulations that enable employers to see applicant skills in action, providing valuable insights that lead to a 10-20x increase in hiring precision and significant HR cost savings. This approach ensures that job-seekers are evaluated for their actual abilities and professional potential, rather than being just another application in an online career portal.
Lyndsey Boucherle, Partner at Better Ventures, said, “Skillfully helps employers discover larger pools of talent, reduce hiring costs and make better hiring decisions, while leveling the playing field for underrepresented talent. We are excited to back them as they drive the transition to skills-based hiring.”
This funding marks a transformative phase of growth for Skillfully. We are eager to further commercialize our pre-hire simulation platform and develop additional innovative products that will equip our customers to thrive in the evolving new landscape of experiential, skills-first hiring.
For more information, visit our website at Skillful.ly follow us on LinkedIn, or contact us at sales@skillful.ly.
Skillfully, a leader in simulation-driven hiring solutions, is thrilled to announce that it has raised $2.5 million in seed funding. The round was led by Better Ventures, with participation from Silicon Valley Quad, American Student Assistance, Strada Education Foundation, FN Fund, and Inventus Capital Partners.
Our team has successfully developed a cutting-edge hiring platform that integrates advanced AI tools with a modern skill taxonomy designed for today’s workforce. This fresh capital allows us to extend our solutions to more of the world’s top employers, setting a new gold standard for skills-first employment across roles in professional services, sales, and staffing.
Founded on the belief that the current approach to finding, securing, and thriving in employment is fundamentally broken, Skillfully aims to address the shortcomings of traditional resume-driven hiring practices. In an industry transformed by AI, these outdated methods fail both employers and job-seekers.
Recruiters have historically relied on resumes, cover letters, and online profiles to gauge applicants’ skills. However, this method has become increasingly inadequate, with 90% of application materials now enhanced by GenAI tools like ChatGPT, leaving employers inundated with resumes. Yet, the same underlying technology that powers these AI tools can also revolutionize recruitment through what we call “experiential” hiring, creating a job market that is fairer, more inclusive and skills-centric.
Experiential hiring uses virtual simulations of workplace challenges to shift recruiter focus from conventional descriptions of skill to verifiable demonstrations of skill. Skillfully’s HiredNow product offers fully customizable simulations that enable employers to see applicant skills in action, providing valuable insights that lead to a 10-20x increase in hiring precision and significant HR cost savings. This approach ensures that job-seekers are evaluated for their actual abilities and professional potential, rather than being just another application in an online career portal.
Lyndsey Boucherle, Partner at Better Ventures, said, “Skillfully helps employers discover larger pools of talent, reduce hiring costs and make better hiring decisions, while leveling the playing field for underrepresented talent. We are excited to back them as they drive the transition to skills-based hiring.”
This funding marks a transformative phase of growth for Skillfully. We are eager to further commercialize our pre-hire simulation platform and develop additional innovative products that will equip our customers to thrive in the evolving new landscape of experiential, skills-first hiring.
For more information, visit our website at Skillful.ly follow us on LinkedIn, or contact us at sales@skillful.ly.
