Addressing the Diversity Gap in Recruitment

Many organizations express a desire for workforce diversity, yet frequently state they lack effective strategies for attracting a wider range of candidates.

SeekOut, an innovative startup, aims to eliminate these excuses with its AI-powered recruitment platform.

The Origins of SeekOut

Founded in 2016 by former Microsoft leaders – Anoop Gupta, Aravind Bala, John Tippett, and Vikas Manocha – SeekOut initially focused on developing a sophisticated messaging platform.

This early version offered detailed information about individuals involved in email communications. However, the founders discovered that clients were more interested in the data itself than the messaging functionality, prompting a strategic pivot in 2017.

Current Focus and Client Base

Today, SeekOut concentrates on assisting talent acquisition teams in identifying “hard-to-find and diverse talent.”

While the company remains discreet about specific clients, it confirms partnerships with six of the ten most valuable companies in the U.S. based on market capitalization.

As of January, SeekOut served approximately 500 customers across diverse sectors, including technology, pharmaceuticals, aerospace, defense, and banking.

How SeekOut's Technology Works

Over time, SeekOut has constructed a vast database containing hundreds of millions of profiles.

This is powered by an AI-driven talent search engine and “deep interactive analytics.”

The platform locates talent by analyzing publicly available data and employing natural language processing and machine learning to understand each candidate’s expertise.

It creates a comprehensive 360-degree view by integrating information from public profiles, GitHub, research papers, patents, employee referrals, company alumni networks, and applicant tracking systems (ATS).

Expanding Capabilities and a Commitment to Inclusivity

Initially centered on technical roles, SeekOut has broadened its scope to support recruiters in finding diverse candidates and individuals with specialized, “hard-to-find” skill sets.

The company asserts its ability to deliver results with “unprecedented speed and precision” through a blind hiring process designed to minimize bias.

SeekOut also provides recruiters with instant access to candidate contact information with a “single click,” facilitating direct engagement.

SeekOut co-founders (left to right) Anoop Gupta, Aravind Bala, Vikas Manocha and John Tippett. Image courtesy of SeekOut

Recent Funding and Valuation

The startup’s success has attracted significant investment, most recently a $65 million Series B round led by Tiger Global Management.

This funding values SeekOut at approximately $500 million.

Madrona Venture Group and Mayfield, existing investors, also participated in the financing, bringing SeekOut’s total funding to $73 million.

Financial Performance and Growth

Unlike many startups still striving for profitability, SeekOut is a notable exception.

Since its $6 million Series A raise in May 2019, the company has experienced “more than a 10-fold” increase in annual recurring revenue (ARR), though specific figures remain undisclosed.

SeekOut has maintained profitability and positive cash flow for the past two years.

The Talent-360 Platform and Retention

According to CEO Anoop Gupta, the company’s platform, known as Talent-360, assists organizations in not only locating diverse talent but also improving employee retention.

This is achieved by identifying the most suitable candidates from the outset.

The Impact of Remote Work

The shift towards remote work, accelerated by the COVID-19 pandemic, has prompted companies to adopt more flexible hiring practices, removing geographical constraints.

Gupta notes that this change has increased the demand for tools like SeekOut.

“This freedom also means their need for tools like SeekOut increased and we have seen our business take off as a result,” he stated.

The emphasis on diversity hiring and the platform’s unique approach, including blind hiring features, have significantly boosted adoption rates.

SeekOut’s Insights dashboard. Image courtesy of SeekOut

Industry Validation

Mario Linares, head of talent acquisition at Aviatrix, highlights the intensifying competition for software talent.

“SeekOut’s innovative AI-powered search, global power filters, diversity filters, and talent pool insight have been critical components of Aviatrix’s global growth plan,” he explained.

Investor Confidence

John Curtius, a Partner at Tiger Global, believes SeekOut’s platform has the potential “to transform the world of HR.”

“We are impressed by the customer love and traction SeekOut is experiencing,” he added.

Future Plans and Expansion

SeekOut intends to utilize the new funding to accelerate platform development, expand its customer success, engineering, sales, and marketing teams in Seattle, and leverage its own platform for recruitment.

The company also plans to double its current headcount of 50 employees within the next year.