Summary:
Humanly is thriving with a 3X year-over-year revenue increase despite a hiring slowdown
The startup recently raised $7 million to capitalize on its momentum
Humanly uses automation software to streamline recruiting processes for companies
The acquisition of Teamable has expanded Humanly’s focus to include tools for job seekers
Humanly screens 250,000 new candidates monthly and has $24 million in total funding
Humanly's Remarkable Growth Amidst Hiring Slowdown
Some of the team at Humanly, a Seattle startup founded in 2018. The company employs 36 people. (Humanly Photo)
In a surprising twist, Humanly, a Seattle-based recruiting software startup, is experiencing its best two quarters since its inception in 2018, despite a general hiring slowdown. The company has seen a 3X year-over-year increase in annual revenue and recently secured $7 million in funding to fuel its growth.
What Sets Humanly Apart?
Humanly leverages automation software to streamline the recruiting process, offering services like candidate screening, interview scheduling, initial communication automation, and reference checks. Competing in a crowded market, Humanly stands out by focusing on both companies and job seekers.
Key Drivers of Growth
- Efficiency in Hiring: With companies operating with smaller recruiting teams, tools like Humanly are in high demand to manage the hiring process efficiently.
- Increased Applicant Volume: As more candidates apply for fewer roles, Humanly helps companies engage with applicants at scale.
- Improved Data Models: The more candidates use Humanly’s platform, the better its algorithms become at matching job seekers with suitable roles.
Expanding Beyond Companies
Following its acquisition of Teamable last year, Humanly has broadened its focus to include tools for job candidates, such as mock interviews and career advice. This shift addresses the growing issue of candidate resentment, aiming to improve the job-seeking experience.
Impressive Metrics and Future Plans
Humanly screens 250,000 new candidates monthly and serves large companies outside the tech industry that hire in high volumes. With $24 million in total funding to date, the startup is well-positioned for future growth.
Prem Kumar, co-founder and CEO of Humanly, accepts the award for UX Design of the Year at the 2022 GeekWire Awards. (GeekWire File Photo / Kevin Lisota)
Humanly’s success is a testament to its innovative approach in a challenging market, proving that even in times of hiring slowdowns, recruiting startups can thrive.
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