Humanly raises $25M in Series B

Humanly has secured $25 million in Series B funding to expand its operations into a broader service model that aims to redefine how companies hire. The Bellevue, Washington-based firm, known for its AI-driven interviewing tools, is transitioning towards a “service-as-a-software” model. This approach delivers pre-vetted, ready-to-hire candidates directly to employers, moving beyond traditional recruiting software to resemble a staffing agency.

The funding round saw contributions from investors including SEEK Investments, Drive Capital, Zeal Capital Partners, and Converge. This latest injection brings Humanly's total funding to $52 million. Founded in 2018, Humanly has gained traction by automating candidate screening processes, interview scheduling, and reference checks, which cater particularly well to companies with high-volume hiring needs.

The strategic shift is supported by Humanly's recent product launch aimed at job seekers. This includes AI-powered tools for interview coaching, resume enhancement, and salary negotiation, offering a direct candidate engagement channel. CEO Prem Kumar describes this evolution not as a pivot, but as a reinvention to provide immediate candidate delivery to employers, akin to LinkedIn with pre-vetted profiles.

Humanly's plans emerge amid a challenging job market where more applicants are vying for fewer positions. The proliferation of automated application tools has increased pressure on employers to efficiently screen numerous candidates, underscoring the need for Humanly’s solutions. The company has also initiated partnerships to access broad job marketplaces, potentially connecting with 20 million job seekers over the next year. This expansion includes a collaboration with Microsoft’s neurodiversity hiring program, where Humanly’s AI tools assist neurodiverse candidates in preparing for interviews, aiming to mitigate biases inherent in traditional interview processes.

As Humanly continues its growth trajectory, evidenced by a 3.9-fold revenue increase in the past seven months and a client roster featuring companies such as Microsoft, Domino’s, and MGM Resorts, it faces the task of scaling its candidate database and enhancing product offerings. The company’s open focus on innovation reflects a broader trend of using AI to revolutionize enterprise capabilities in the recruitment sector. With regulatory landscapes constantly evolving, how these advancements align with market expectations and regulations will shape the next phase of Humanly’s development.