HireLogic, a Texas-based artificial intelligence (AI) enabled hiring interview intelligence solution, has recently announced that it has raised $6 million in its Series A round led by Joseph P. Landy, former Partner and Co-Chief Executive Officer of Warburg Pincus. The funding round also witnessed the participation of existing investors, who previously invested in the company’s seed round.
With this investment round, the firm plans to advance the capabilities of its conversational analytics platform, expand to market activities, and meet the demands of its growing customer base.
Co-founded by recruiting industry veterans, Umesh Ramakrishnan, Nancy Albertini, and Buster Houchins, HireLogic is an AI-powered conversational analytics platform that aims to improve interview productivity and intelligence to enable data-driven hiring decisions. The company extracts insights by listening to any in-person or remote interview. It has developed advanced AI, and machine learning capabilities focused on the hiring domain, using a combination of proprietary and third-party AI. The solution goes beyond general transcription offerings, using models trained on thousands of interviews to recognize job functions, intent, and candidate characteristics.
In addition to supporting platforms such as Zoom, Microsoft Teams, and Google Meet, the startup offers a companion Web app that can listen to any in-person or telephonic meeting, providing full coverage for all interview modes. HireLogic can also auto-generate questions for any position to prepare interviewers, leveraging a combination of OpenAI (GPT-3) and HireLogic capabilities.
Commenting on the fundraising, Chief Executive Officer of HireLogic, Anirban Chakrabarti, said:
Joe, a proven investor and advisor to emerging companies, has helped numerous technology startups reach their full market potential and recognizes the massive total addressable market opportunity for a common HR challenge. HireLogic will benefit tremendously from having access to Joe’s guidance and network as we embark on our next phase of growth and go-to-market activities. I want to thank Nancy, Umesh, and Buster for their enormous support, domain expertise, and customer insights that built the foundation for HireLogic. We are grateful for their guidance that has enabled our AI-driven innovation to address the needs of the large global talent acquisition market.
HireLogic customers can expect immediate benefits through increased productivity, with automated insights that enable faster decision-making and increased candidate engagement. HR teams and hiring managers can augment decisions with objective data, avoid memory bias, and detect potential non-compliance. It does not stack rank candidates, screen them, or otherwise replace human decision-making to minimize other forms of AI bias.
Joe Landy, who leads Series A investor and former co-CEO of Warburg Pincus, added:
I have experienced first-hand how much time, and money organizations spend interviewing candidates, the lack of objective data being gathered, and the impact quality of hires has on performance. We are already seeing the transformational impact that AI and GPT3 have, and we expect to see this affect all sectors, including HR. What Gong did for sales intelligence, HireLogic is doing for interview intelligence in a similarly large market, and their customers are already experiencing the benefits. I look forward to working with the HireLogic team to transform interviewing and capture this opportunity.
As a part of the transaction, Joe Landy will join HireLogic’s board of directors alongside Noam Eisenberg and Anirban Chakrabarti.
The company has seen significant usage growth across its customer base within six months of the public launch. It listens to thousands of monthly interviews and analyses over half a million interview minutes. For businesses that use applicant tracking systems (ATS), it offers optional integration to import job descriptions and candidate information automatically.
Last year in May, HireLogic raised $4 million in seed funding from several prominent individual investors, including Edward J. Zander, former chief executive officer and chairman of the board of Motorola, Mike Pehl, partner at Guidepost Growth Equity and former president of Razorfish, and Ann Fandozzi, chief executive officer of Ritchie Bros. The startup’s latest funding brings its total raised to over $10 million.