jobpal has announced €2.5 million in funding from InReach Ventures, an AI-powered VC fund investing in early-stage European startups, and Acadian Ventures, a new early-stage VC firm founded by Jason Corsello, ex-CEO of Cornerstone.
In an age when AI is making customer interactions more intuitive and user-centric, the world of recruitment is getting its own upgrade. jobpal creates AI chatbots for large enterprise businesses, who employ them to manage much of the recruiting process, from the first signs of candidate interest all the way to onboarding. Through machine learning and proprietary Natural Language Processing (NLP), jobpal automates interaction with potential hires, answering questions around the clock.
“60 percent of the interactions our chatbots currently receive happen outside traditional business hours, which shows how important it is for enterprises to be available to respond to candidates 24/7,” said Luc Dudler, co-founder and CEO of the business. The result is not only a more efficient recruitment process, but also a more effective one; the improved candidate experience gives job seekers a better impression of the employer and arguably increases their interest in being hired. Applicants can communicate whenever they want on platforms they use all the time, including WhatsApp, Facebook Messenger, and SMS.
In addition to big brand clients such as Airbus, Deutsche Telekom and McDonald's, jobpal is also integrated with large-scale Human Capital Management suites including SAP SuccessFactors, Workday, Oracle (formerly Taleo), Avature, and Smartrecruiters. Roberto Bonanzinga, partner and co-founder of InReach Ventures, said, “Using our proprietary software (DIG), we look to discover and evaluate the most promising European start-ups. jobpal ticks all the boxes we look for when it comes to a great business idea coupled with the company’s ability to execute on the product.”
Acadian Ventures is new on the European VC scene, with a mission to invest in companies that are using technology to redefine “the Future of Work,” improving work life from all angles. Founder and General Partner Jason Corsello commented on the firm’s investment: “Companies spend over $200 billion on recruiting worldwide, yet after 20 years of investment in recruiting technologies, we have barely moved the needle on the candidate experience. If Amazon can tailor our shopping experience and Spotify can personalise our playlist, companies should be able to create a unique candidate experience for all job seekers. We love that jobpal does this and more, delivering value to all stakeholders in the recruiting process. It’s not very often you find early-stage companies with such an iconic list of customers and we are excited to partner with jobpal to help accelerate its business and execute its vision.”