HR tech startup Sense valued at $500M in SoftBank Vision Fund 2-led funding - Gadgets Price - Gadgets Price
HR tech startup Sense valued at $500M in SoftBank Vision Fund 2-led funding - Gadgets Price

Sense, an HR tech startup that helps some of the world’s largest staffing and recruiting firms find and hire talent in a timely manner, has grown its valuation to $500 million in a new round of funding, a person familiar with the matter to Gadgets Price.

The San Francisco-headquartered startup has raised $50 million in its Series D funding round, it said. SoftBank Vision Fund 2 led the funding round, pushing the five-and-a-half-year-old startup to $90 million to date. The multiple rise in valuation comes just six months after Sense closed its Series C round, Gadgets Price has learned.

Sense focuses on serving the workers and helps companies manage the entire talent lifecycle at the company.

Hiring knowledge workers can take up to six months, but “in this world where you hire a warehouse packer, companies need him or her today,” Anil Dharni, co-founder and CEO of Sense, explained in an interview with Gadgets Price. He declined to comment on the rating.

The vast majority of professional social networks and other recruiting platforms are currently designed to serve knowledge workers, he said. “But for people like Uber drivers and Amazon warehouse workers, such platforms are irrelevant,” he said, describing the challenge.

The startup, which says it uses automation, artificial intelligence and personalization in its screening processes, has courted more than 600 clients, including Amazon, Sears, Vaco and Kenny, who are using the Sense platform to scale their hiring, it said. he.

Citing internal numbers, Sense said its clients see an average 263% increase in the number of candidates they can screen using the platform and reduce the time it takes to fill positions by up to 81%.

“Our latest funding not only reaffirms the need for personalized talent engagement in today’s candidate-centric world, but also accelerates our platform globally as we help reshape the future of work,” he said.

Sense offers a number of services, including chatbots that, Dharni said, help companies remove bias from their recruiting practices.

Over the past year and a half, the startup’s platform has also been used to hire health professionals, he said.

Dharni got the idea to launch Sense after facing challenges in hiring talent at his previous companies, said Dharni, who previously co-founded gaming company Funzio, which was acquired by GREE for $210 million.

“We realized that talent makes or breaks a company. If you can’t attract the right people, your business won’t be successful. It doesn’t matter what you TAM [total addressable market] or business model,” he said.

“With that realization, I decided that the next startup we’re going to do will be about solving the talent space,” he said.

Dharni said Sense is pursuing a $200 billion opportunity that remains largely untapped.

Sense has also more than doubled its revenue and workforce in the past year. The startup now plans to expand Sense’s offerings in several markets, including Western Europe, it said.

“We believe the critical nature of the Sense platform in enabling enterprise customers to find and hire quality talent faster is clear. As it expands both nationally and globally, we have no doubt they have the ability to positively transform the way companies build great teams and compete,” said Sumer Juneja, Managing Partner of SoftBank Investment Advisers, in a statement.

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