Hireology seeks to make hiring new employees faster, easier and more effective using proprietary scoring algorithms to assess applicants. And it seems they’re doing just that. The web-based platform earned $1 million in Series A funding from FireStarter Fund and other investors in a deal that closed Friday afternoon. The hiring management company will use these funds to scale customer acquisition, deploy revenue-generating features and maintain their lead in the Selection Management System market.
“We are excited to be entering the next phase of our company’s growth,” said Adam Robinson, CEO of Hireology, in a press release. “Hireology has proven that there’s a large, addressable market for data-driven hiring and selection technology that helps companies organize their hiring process and make better selection choices. With our patent-pending technology and easy-to-buy, easy-to-use solution, Hireology is setting a new standard for the industry.”
Robinson founded Hireology in 2010 with fellow serial HR and technology entrepreneurs Michael Krasman and Jeff Ellman. The idea was to help small businesses and distributed enterprises manage and improve their hiring and selection practices across the board. For multi-location businesses like banks, franchise systems, healthcare systems and others, Hireology says their Selection Manager has delivered “consistent and repeatable hiring decisions in the field, leading to better hiring decisions, lower turnover, and increased profitability per location.”
Today, the Hireology team is 11 people strong and their customer base grew 50 percent in Q2.