SeekOut announced a $115 million Series C Round of venture capital for its AI-powered candidate sourcing and engagement suite, what they’re calling a “Talent 360 Platform.” The round, led by Tiger Global, came with a valuation of $1.2 billion, making SeekOut the latest work tech unicorn. This brings its total raised to $188.6 million.
Talent sourcing, engagement, and analytics is becoming a competitive category in 2022. As the job market continues to tighten, with more jobs open than candidates to fill them, companies are looking for innovative ways to find and engage qualified and diverse candidates. SeekOut has been largely focused on tech and developer roles while building out its capabilities. The news comes on the heels of the business reportedly increasing annual recurring revenue (ARR) by more than 3x in the past year and doubling its customer count to more than 1,000 companies.
Today, most enterprises are flying blind when it comes to building and maintaining their workforces. Data is everywhere in the enterprise except where you need it most, informing the decisions about the people you need and the people you haveAnoop Gupta, Co-Founder and CEO, SeekOut
This funding round and valuation are both validating for SeekOut and introduce pressure to scale the product and business. As we look at the slate of candidate sourcing and engagement platforms, it seems most are on a path to ultimately compete with the talent, ATS, and CRM platforms they rely on as partners today. It will be interesting to see if that’s ultimately SeekOut’s trajectory.,
$17.9 billion was invested globally in work tech through 2021 across 374 deals. WorkTech Market Insiders can access insights and analysis of all of the deals in our 2021 report with a free membership.