Sense, the San Francisco-based HR tech startup with an office in Bangalore, has raised $ 50 million in a Series D funding round led by SoftBank Vision Fund 2.
So far, Sense has secured $ 90 million in funding with other investors like Accel, Avataar Venture Partners, GV, Khosla Ventures and Signia Ventures.
Founded in 2015 by Anil Dharni, Ram Gudavalli, Pankaj Jindal and Alex Rosen, Sense will use this funding round to drive global expansion and product development.
Sense will also intensify its go-to-market strategy by targeting sectors such as health care, manufacturing, logistics and retail. In addition, it aims to invest in international expansion, particularly focused on high growth regions such as Western Europe.
According to the startup, in today’s hyper-competitive hiring market where blue and gray-collar workers are leaving their jobs in record numbers, companies cannot meet their hiring goals without a targeted investment in automation. and AI. That tailwind has helped Sense gain traction with more than 600 customers, he noted.
“Sense’s founding mission to equip companies to engage the best talent both quickly and efficiently is more important than ever. Our work with hundreds of companies over the past year has allowed them to build great teams and compete for talent in the midst of the pandemic, ”said Anil Dharni, CEO of Sense, in a statement.
The start-up noted that it had achieved a record year of business growth, more than doubling the company’s turnover, doubling the number of employees, increasing the size of the company’s transactions by 70%. and achieves a net retention rate of over 130%.
Munish Varma, Managing Partner, SoftBank Investment Advisers, said, “We have followed Sense’s product growth and innovation during one of the most transformative years in the talent landscape. Powered by AI, the Sense platform aims to help companies manage the entire talent lifecycle that is of utmost importance in today’s competitive environment.
Sense claimed that with its personalized approach to AI, their clients experience on average: a 263% increase in the number of candidates screened compared to a manual approach, a reduction in recruiting time by 30-81% and up to ‘800 hours of time savings for recruiters.