impress.ai is an automated platform for screening and assessing candidates with an Artificial Intelligence (AI) powered chat interface. It is a productivity tool for enterprise recruitment teams which allow them to identify great candidates faster, more accurately and without bias. The tool allows the enterprise recruiter to generate and train an AI-powered Virtual HR Assistant that autonomously reviews resumes, runs screening interviews and answers candidate queries. This saves the recruiters up to 30% of their time that they can spend on top candidates instead.
The startup, today, secured an undisclosed amount of funding from the Javelin Startup-O Victory Fund which is managed out of Singapore.
impress.ai was born as Ideatory Pte. Ltd. in 2013 after the founders had spent years in innovation, consulting and talent assessment for large enterprises. Over the years, their clients have included DBS, UBS, Citi, Singtel, Maybank, CapitaLand, HDFC, MakeMyTrip, and ZS Associates in Singapore, Hong Kong, Malaysia, India and New York. The team behind impress.ai met at Nanyang Technological University of Singapore. Together they hold PhDs. in AI, experience in Industrial-Organisational Psychology and corporate sales.
Since its launch in September 2016, impress.ai has delivered impressive cost-savings and better candidate experience for its clients. Major banks in Singapore use impress.ai to positively overhaul their recruitment experience for candidates while improving overall efficiency and accuracy of the process.
The investment from the Javelin Startup-O Victory Fund will allow impress.ai to advance its mission to build a Virtual HR Assistant that makes enterprise recruiters more efficient and minimise unconscious bias.
“This support is a validation of the impact impress.ai is having on banks, telecommunications and consulting companies. The Startup-O platform was a convenient and effective way that allowed us to participate online without any upfront dilution and provided fast results, by linking us up with seasoned experts and access to funds in a timely manner. It was a fantastic experience working with the Startup-O team,” said Sudhanshu Ahuja, co-founder and CEO of impress.ai.
“impress.ai’s automated platform for potential candidates resides at the intersection of two high-growth technology sectors: Artificial Intelligence (AI) and HR technology. According to recently published data, corporate spend on AI technologies is expected to hit $47 billion by 2020. Likewise, 42% of firms plan to increase HR technology spend to replace current systems”, said Anuj Jain, Co-Founder and CEO of Startup-O. “We look forward to see impress.ai build on its impressive momentum that it has created over the last 6 months and continue to deliver on its promise to large organisations across the region.”
Startup-O is a Singapore-based online platform that helps curate tech startups from across Asia, and help them connect with strategic capital and global network of experts to expedite venture building. The winning startups selected from the online ‘Fasttrack’ program, held every quarter, are included in the Victory Portfolio to be funded by Javelin Startup-O Victory Fund. The Q1 2017 season saw winning startups getting funded from across A.I., Fintech, IOT, SaaS & Enterprise software domains respectively.
“Javelin Wealth Management works with high net worth investors and family offices to build and manage properly diversified portfolios which invest in a broad range of assets. We look forward to investing in more high potential, technological startups like impress.ai,” said Steve Davies, CEO of Javelin Wealth Management, which has collaborated with Startup-O to establish the Javelin Startup-O Victory Fund to expedite success for both the startups and the investors in them.
Latest posts by Team THS (see all)
- LegalRaasta raises INR 32 cr for providing GST solutions - May 14, 2017
- 20 robotics startups in India with the aim for a better tomorrow - May 9, 2017
- 6 books that Bill Gates wants you to read - May 3, 2017