hr bot factory, a Spain-based HRTech startup that automates the recruitment process through the use of AI and Machine Learning, has raised €1.0 million (USD $1.1 million) in its Series A round led by existing investor Dozen Investments.
With the fresh capital, the company plans to work mainly for international expansion, starting with the United Kingdom and continuing with the United States. In addition, it also plans to expand its product, marketing and sales team, the development of new functionalities, and the integration with different platforms in order to offer a more complete service that improves the user experience.
Co-founded by Jon Gonzalo and Anthony Corral in 2018, hr bot factory is an expert company in human resources processes that designs solutions based on artificial intelligence and neuroscience. The company is on a mission to provide tools to its clients to identify the best candidates in the shortest possible time, generating a differential experience for both. The platform is created by professionals with extensive experience in the world of human resources in multinationals in the retail, consumer goods and communications sectors, among others, we intend to bring technological innovation and people management closer together.
The hr bot factory SaaS analyzes CVs, interviews candidates via a chatbot, and offers the option of planning and conducting a video interview along with an information storage system. Currently , more than 1,000,000 interviews have been carried out with the company’s software , saving more than 140,000 working hours for its clients.
Commenting on the fundraising, Founder & CEO of Dozen Investments, Ramón Saltor, said:
The traction and the results that hr bot factory has been achieving throughout this year have been really positive. The labor market and the way in which talent is recruited is undergoing a huge transformation, and hr bot factory offers a totally innovative solution that also saves time and costs. From Dozen we are convinced that it is a key moment to bet on the project. We want to accompany you on this journey and witness all the successes that await you.
As it is a SaaS model, the business offers scalability and high gross margins (90%), with high returns on capital invested in an efficient and circulating manner. This is motivated, among other aspects, by the organic growth of the company, which, by attracting large clients that have offices in different cities around the world, has the possibility of expanding to other subsidiaries. hr bot factory’s vision is to constantly innovate, providing new automation solutions for people management, which help the evolution of organizations.
The startup has created a team of experts in technology and processes, who are moved by curiosity, creativity and continuous commitment to help organizations evolve, through technology and process optimization thanks to artificial intelligence. It makes processes easier to put people at the center of decision making. After many years of experiencing first-hand the complexity of attracting, retaining and developing talent in large multinationals, hr bot factory was born with the aim of minimizing tasks that do not add value in human resources departments and putting the talent and skills of people at the service of organizations.
In addition to the projection of the company, Dozen Investments believes that hr bot is an excellent investment opportunity due to the team that supports the business and the tax incentive of the project. The company believes that people are the true differentiating factor in business, and it has embarked on this business adventure with the ambition of helping organizations to be more efficient thanks to the integration of Artificial Intelligence in their management processes.
At the beginning of the year, hr bot factory closed its first investment round valued at €650,000. Since then, the company has not stopped growing and closed 2022 with a turnover of more than €500,000. With regard to clients, the startup ends the year with a total of 52 companies in its portfolio, including some such as Prosegur, Día, Quirón Salud, Alain Afflelou, Ale-Hop and Makro. It is also planning to increase the number of customers to more than 120 and reach an approximate turnover of more than 1.2 million euros in 2023.