Every top participant in the AI-powered hiring software space is giving all it takes in order to emerge winner as competition reaches prime stage. And in this wise, Entelo [being in its sixth year of competing] is taking the approach of boosting its growth capital. The company intends to declare the financing of another round with a whooping sum of $20million- how much ground this gives them remains to seen considering that other top competitors are not willing to take their foot off the gas. The C series round of financing from Entelo would involve companies like Shasta ventures, Correlation ventures and Battery ventures.
Reviewing Entelo’s modus operandi, one will get to understand that in contrast to its much highly revered and popular competitor, LinkedIn, the company does not permit prospects to have an account of their own at the moment. Rather, profiles [of job seekers] are generated from the web and thereafter the prospects are linked up with hiring companies through the platform.
With more than six hundred (600) companies [like Genearal Electric, Facebook, Target, Allstate to mention but a few] having access to profiles [in excess of 350 million] on its platform, the company is definitely not short of matching options for potential employees. Notwithstanding, being a company that is desirous of growth, the (company’s) hierarchy is aiming to improve upon the way it does the matching operation. And according to the company’s CEO and co-founder, Jon Bischke, plans are on ground to gather unstructured data from sources such as GitHub and then incorporate measures to help hiring companies easily connect with candidates on the platform. Entelo does appear to have a strategy- doing some underground work- that might help it beat off competition from the likes of Workey, Mya, Workable and even LinkedIn. Permit me, at this point to single out two startups- Workey and Mya- as they have been doing admirably well in AI recruiting process over the course of the past couple of weeks.
Entelo is not expected to struggle like some startups would. This is because there is a structure on ground already and coupled with this, the company is never short of data and even the experience. However, there is a need for the company to actively engage [to some extent] potential candidates as it does with hiring enterprises- this would create an all-encompassing adventure and also serve as an avenue for growth.