A New York-based startup Wade & Wendy that develops machine intelligence personalities to help hiring procedures, has secured USD 7.6 million in series A funding round for a Chatbot-based candidate recruitment platform. The funding round was led by Jazz Venture Partners, in additional participation from Innovation Fund, FF Venture Capital, and Indicator Ventures. This fresh capital round brings the company to a total valuation of USD 11.6 million, following the agreement of a multilayer contract with Randstad Sourceright, a UK-based talent firm.
Wade & Wendy CEO, Drew Austin stated that the several industries today are worried that AI will negatively impact jobs, but his company’s technology assisting to navigate folks to new jobs and improving the hiring procedures. As of result, the company recently doubled its number workforce. With this fresh capital, Wade & Wendy will keep growing and expand partnerships with industry leaders. As Wendy classifies potential candidates from existing and outside talent pools and effectively working on behalf of hiring teams, Wade targets job contenders and employees with tailored guidance and feedback, drawing on the proprietary knowledge base of tech startups and Fortune 500 companies.
As an AI-Powered Recruitment Conversation Platform, Wade & Wendy pointed out that its Chatbots take 29 minutes to chat with the average candidate, nearly 30 hours saved for every 100 candidates per role. The company also asserted that they have exchanged 100,000 messages so far, in which 44 percent were done in off-hours. According to the reports, Wendy’s built-in email engine can boost outreach activity and amplify qualified talent pools by 20 percent, and that 80 percent of recommended talent accept for an interview.