Israeli startup Workey, which uses artificial intelligence to help match workers with jobs in the tech scene, said it has closed an $8 million series A funding round led by PICO Partners, a Jerusalem-based venture fund, and Magma VC.
The company also said Tuesday it was officially launching its services in the US and will open its first American office in New York City.
The company’s website, using artificial intelligence capabilities, has the ability to track and profile the workforce, comparing millions of career paths and providing data-driven recommendations for user’s career steps. The platform particularly assists those who are not ready to take the leap and become active job-seekers by offering an anonymous, free and easy-to-use service, which allows users to casually explore the job market without commitment or effort.
The site presents users with relevant positions in real time, generated by AI and comparative analytics, and can open up options for previously unimaginable career opportunities based on the skills and experience of workers and the opportunities available. Companies can also use the site and reach out directly to users. It is however up to the users to decide if they wish to reveal their details or anonymously reject the approach.
“The 2016 Deloitte Millennial survey shows that two-thirds of millennials expect to leave a company within four years. However, it’s clear that the traditional recruitment process is inefficient and outdated for not just millennials, but for employees across the board,” said Danny Shteinberg, CMO of Workey.
“Far too often people leave one job for another without clear direction and without necessarily supporting their long-term aspirations. Unlike job sites, Workey does not merely aim to find people a job, our aim is to help people take steps that build a career by providing a true reading of the job market and an individual’s potential.”
The funding was raised after Workey completed a positive beta trial in Israel and New York, working with over 400 companies including Amazon, Dell EMC, Oracle, and Yahoo, the startup, founded in 2015, said in a statement on Tuesday.
“In a candidate-driven market, Yahoo always strives for innovative approaches to recruitment, and Workey has proved to be an invaluable service,” said Omri Perek, recruitment manager at Yahoo Inc. “The smart recommendations and quality introductions facilitated by Workey, combined with its easy-to-use and welcoming platform, has enabled us to fill multiple positions with ideal candidates.”