Pymetrics today announced it has raised $40 million to expand its work using a combination of neuroscience and artificial intelligence to help companies recruit the right job candidates. The funding will allow Pymetrics to continue its product development and expansion in markets outside the United States. More than 60 companies use Pymetrics in their hiring practices today, including Unilever, Hyatt, and Accenture. In some instances, companies using Pymetrics have seen a 20 percent increase in the diversity of hires and a 65 percent increase in retention rates. The $40 million funding round was led by General Atlantic, with participation from Salesforce Ventures and Workday Ventures, as well as existing investors Jazz Venture Partners and Khosla Ventures.
Identify the traits of your top performing employees and hire people like them, but without the discrimanatory bias of traditional recruiting. That's the promise of Pymetrics, an artificial intelligence startup that today announced $8 million in new funding onstage at TechCrunch Disrupt SF. Pymetrics' goal is "making the world a fairer place" by dismantling hiring discrimination like sexism, racism, ageism and classism. Anyone can play the Pymetrics test games and get scored on different hireable traits, plus see suggestions for job types they'd be great at. You can watch my interview with Pymetrics' CEO Frida Polli below: A company's all-star employees play Pymetrics' set of games that assess things like memory, emotion detection, risk-taking, fairness and focus.
Some of the largest employers in the world are increasingly, and in some cases controversially, relying on AI-based technologies to hire new workers. Companies like Tesla, Accenture and LinkedIn are using technology from Pymetrics to better vet qualified candidates and reduce the time and resources required for what has traditionally been a labor-intensive hiring process. The company, which boasts more than 80 global clients, uses a blend of data science and I/O psychology to create its "people recommendation engine." The Pymetrics platform is designed to improve employee retention while also increasing efficiency and diversity throughout the recruiting process. The results are parsed by AI to generate measurements related to candidates' problem-solving skills, ability to multitask and even their levels of altruism.
Pymetrics is a New York-based AI hiring-platform, that allows companies to hire more diverse candidates. The company boasts clients of very large sizes, such as Unilever, Accenture, Tesla, and LinkedIn. And now, they were just named'Technology Pioneers' by the World Economic Forum (WEF). Pymetrics' hiring platform allows job applicants to assess games and tasks. But here's where it gets cool: Depending on their performance, the AI-powered platform can calculate whether the candidate is a good match for the job.