Workable is making moves to lighten the load for recruiters everywhere with its latest $50 million Series C round.
The investment, led by Zouk Capital, brings Workable’s total funding to $84 million. Workable’s CEO Nikos Moraitakis said the fresh funding will be used to grow their local sales, marketing and customer support teams.
Workable currently employs 65 workers in Boston, but the company’s office at 99 High Street can accommodate more than 150.
Workable’s recruitment software makes finding talent easier for companies by replacing spreadsheets and emails and automating large portions of the candidate sourcing and screening processes. It does this by applying predictive algorithms to personal data and hiring data to find good fits for certain roles.
"The world spends about $270 billion a year outsourcing recruiting labor, most of it administrative or lookup work that could – and will – be done better by software, at a fraction of the cost," Moraitakis wrote in a blog post, "Giving back a lot of control to hiring managers, freeing up time for human connection, cutting down time to hire and increasing success rates."
But that’s not all Workable’s software does. It also helps recruiters schedule interviews, send follow-up emails and offers 24/7 customer support. According to Moraitakis, this helps businesses reduce the time it takes to make a hire, meet important business goals and stay on budget.
Currently, the company’s software is used by more than 20,000 customers in 100 countries to streamline recruiting. Some notable customers include Sephora, Porsche, Deloitte and Goodwill. Moraitakis also said they've referred over 50 million candidates.
Other investors in the round included 83North, Notion, Endeavor Catalyst and Balderton Capital.
"We will continue building tools that are flexible and don’t force you to change the way you do your job," Moraitakis said. "We will continue to be the friendliest, easiest to adopt, and most affordable solution in the market."
