The global recruiting market is estimated to $420 billion, which to put into perspective is about three times the size of the employee training market. The reason for this is that more than 20 percent of all workers change jobs every year, so employers are constantly advertising, sourcing, recruiting, interviewing, assessing, and onboarding new people. Hiring the right talent is critical to the success of every organizational. However, the traditional recruiting process still involves tedious manual tasks and cannot keep pace with current demands. It’s sometimes difficult for qualified candidates to find the right jobs.
As technology becomes more mature, artificial intelligence and machine learning are going to play pivotal role in the matching the right candidate to the right job. One artificial intelligence startup, STELLARES (latin plural of “stellar”), is on a mission to revolutionize the tradition recruitment process via is A.I. talent recruitment platform. STELLARES is an A.I.-powered talent agent for top tech talent. To achieve this goal, STELLARES announced it has raised $3.5 million in an initial round of funding led by Jerusalem Venture Partners (JVP).
Founded in 2016 by Roi Chobadi and Andy Katz, STELLARES’ artificial intelligence (A.I.) platform helps the world’s top tech and engineering talent unlock careers that are aligned with their life goals. STELLARES’ AI algorithm looks beyond job descriptions and salaries to factor in over 100 candidate and employer data points to achieve better and more efficient hiring outcomes. Some of these unique factors include interests, work-life balance, professional and personal growth, hiring manager and team fit. The result is less time spent by HR
vetting talent, decreased employee churn for talent-strapped companies and a seamless path to the most fulfilling job opportunities for tech talent. STELLARES counts over 100 top tech companies and startups as clients including bright, early-stage stars such as JOBOX.ai as well as tech titans such as Branch, Yelp and Lyft.
Our A.I. talent agent ‘reads’ information from our onboarding to get an understanding of our candidates,” Roi Chobadi, CEO of STELLARES, said. “It then ‘chats’ with them to dive even deeper to understand variables like character and soft skills. After that, the candidate is done; our A.I. talent agent does all the work of matching and pitching our talents into very selective opportunities. Companies say ‘yes’ to meeting with candidates that we present 60% of the time. Aside from sourcing efficiency, we’re seeing that STELLARES hires are more productive from doing what they love.
We’re excited to see how our talent retention rates compare with industry standards. STELLARES is focused on the US engineering market, which is currently worth $2B in recruitment fees alone and intends to tackle the entire US tech sector within two to three years, a market that’s worth approximately $10B. Yoav Tzruya, General Partner at JVP says, “some of life’s most critical decisions, such as career choice, remain elusive. This is where STELLARES comes in. STELLARES unique approach to employment matchmaking is not only quantitative, but also matches soft skills, interests and psychological aspects using A.I.. This is the future of finding the right match for both individuals and organizations.”
STELLARES’ artificial intelligence-based algorithm platform accurately identifies and matches the personal and professional goals of employees and possible employers. Unlike recruitment platforms, Stellares matches top tech talent based on hundreds of attributes, including soft skills, work-life balance, employee growth and hiring manager and team-fit to deliver highly tailored matches.
JVP is a Jerusalem-based venture capital fund that has raised $1.3B across eight funds and invests in early-through growth-stage companies across a range of industries. It has built more than 120 companies and facilitated 12 initial public offerings on the Nasdaq exchange.
Credit: Tech Startups