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SeekOut, which aims to assist businesses in selecting employees from a wider talent pool, recently revealed that it has secured $115 million in a Series C round of investment, which was headed by Tiger Global Management.                      

The Seattle-based firm is now valued at over $1.2 billion thanks to the fundraising, bringing its total funding raised since its founding in 2017 to $189 million. It comes after a year of sales growth of 300 percent, increasing its annual recurring revenue (ARR) to between $25 million and $50 million. To put things in perspective, SeekOut raised a $65 million Series B in March 2021 was headed by Tiger Global, valued at $500 million. 

Anoop Gupta, Aravind Bala, John Tippett, and Vikas Manocha, a group of ex- Microsoft managers and developers, developed the concept for what would ultimately become SeekOut in 2016. Further, they started developing a notification system that offered a profound level of data about individuals that might be emailing. The firm changed course in 2017 after the foursome recognized that clients were more interested in the information they were discovering than the communications functionality.   

SeekOut’s mission is to assist talent acquisition groups in finding “difficult-to-find and varied talent.” The fact that SeekOut’s client base has climbed from 500 to more than 1,000 over the past 11 months indicates that it is a challenge many businesses encounter.

The CEO and co-founder of the business, Gupta, noted that existing clients have a very high retention rate and have grown significantly. The six “most highly valued corporations” in the United States, according to market valuation, are being worked with by SeekOut, he added, declining to give specific names. Its clients come from a variety of sectors, including banking, pharmaceuticals, aerospace, and the military.

According to Gupta of TechCrunch, “in the last two years, we’ve seen a seismic upheaval in the world of work and how firms are engaging with people.” There are many factors at play, and how businesses recruit, keep, grow, and develop their employees will determine whether they live or die.

Using its AI-powered talent search engine and “deep engaging analytics,” SeekOut has amassed a database of hundreds of millions of accounts over the years. It identifies talent by poring through open data, utilizing machine learning and natural language understanding technology to comprehend each candidate’s skills, and creating a comprehensive 360-degree perspective of each possible employee. It specifically combines data from candidates’ ATS systems, GitHub, graduates of the firm, and public profiles.