Most major companiesincluding Goldman Sachs, Deloitte, and Disneynow use artificial intelligence to recruit, screen, and onboard job applicants.Business Insider rounded up the 6 most valuable US startups that make recruiting technology with AI.HireVue, an AI program used by more than a third of the Fortune 100, has raised more than $90 million in VC funding since it founded in 2004.Visit Business Insider's homepage for more stories.Most job applicants learn quickly that a robot will likely read their resume before reaching any human.Lesser known are the companies that build this type of hiring AI software. These startups build tech that analyzes tens of thousands of data points to target and recruit the best job applicants, all while claiming to save their clients time and money.Business Insider analyzed the AI recruiting startups with the greatest amount of total funding on Crunchbase. We excluded companies based outside the US.HireVue, the world's most valuable recruiting AI startup, has raised more than $90 million in VC funding since 2004.Many companies that build AI for hiring claim their tech reduces bias, but experts warn algorithms can exacerbate existing racial and gender disparities.Here are the 6 most valuable AI recruiting startupsand how much they're worth.SEE ALSO:We tried the AI software companies like Goldman Sachs and Unilever use to analyze job applicants1. HireVue has raised more than $90 million in VC funding since it was founded in 2004.Total funding amount: $93 millionHeadquarters: South Jordan, UtahClients: More than a third of the Fortune 100, including Hilton, Goldman Sachs, and IntelDescription:HireVue makes a video and AI software that screens job candidates based on 25,000 data points, such as body language, word choice, and whether or not they smile. The company says its software cuts the time required to hire a candidate by 90%.Sources: HireVue.com, Business Insider 2. AllyO claims it can cut hiring costs by 60%.Total funding amount: $64 millionHeadquarters:Palo Alto, CaliforniaClients: AllyO claims it works with 15% of the Fortune 50, including Staples, Avis, and MarathonDescription:AllyO uses AI to automate parts of the recruiting process such as scheduling in Outlook and sending email check-ins to candidates. Additionally, the algorithm integrates with job boards and referral sites like LinkedIn and Monster, as well as social media, to identify qualified applicants. The company claims it can cut the cost of hiring by 60%.Sources: AllyO.com, VentureBeat3. Pymetrics has raised $56 million for AI that aims to fight unconscious bias.Total funding amount: $56.63 millionHeadquarters: New York CityClients: Accenture, UnileverDescription:Pymetrics uses brain games and AI to reduce bias in the hiring process. The algorithms measure 70 inherent cognitive and emotional traits, like the ability to focus and attention to detail, instead of using data points like a candidate's gender or college.Sources: Business Insider, Pymetrics.com4. Eightfold, founded by Facebook and Google veterans, has raised over $50 million so far.Total funding amount: $51.75 millionHeadquarters: Mountain View, CaliforniaClients: Hulu, Postmates, TwilioDescription:Eightfold's algorithm first creates a company's "ideal workforce" for a client, based on publicly available data, that would put it in position to reach growth or revenue goals. The algorithm then measures the client's current workforce against this "ideal" to determine which roles should be hired next.Sources: TechCrunch, Eightfold.ai5. Mya Systems is a conversational AI that can chat with prospective job applicants. Total funding amount: $32.4 millionHeadquarters: San Francisco, CaliforniaClients: Adecco, L'Oreal, Deloitte, AB InBevDescription: Mya is a conversational AI recruiter that gathers candidate insights during job interviews, and aids with talent outreach. Its platform employs a dataset gleaned from millions of conversations with the goal of automating companies' engagement with hiring candidates.Sources: Mya.com 6. PandoLogic's algorithm helps clients with their job advertisements.Total funding amount: $22.7 millionHeadquarters: New York CityClients: PandoLogic has reached "over 125,000 employers and more than 700 digital publishers," according to its LinkedIn page.Description:PandoLogic's algorithm helps with job advertising. The AI analyzes jobs and skills needed to target websites and candidates best suited for the specific gig. The company also uses machine learning to analyze which job ads are clicking with specific demographics and targeting to high click-rate areas.Sources: HR Drive, LinkedIn
Click here to read full news..
