TalentBin Raises $2 Million in Series A Funding The round, led by Lightbank, will help TalentBin ramp up its sales organization to capture the emerging market of online sourcing and social recruiting.
SAN FRANCISCO, July 16, 2013 /PRNewswire/ -- TalentBin, the "talent search engine" that turbo-charges talent discovery across the web, today announced $2 million in Series A funding. Lightbank led the round, with participation from NEA, Foundation Capital and FundersClub. Lightbank partner Paul Lee will join TalentBin's board.
The company has aggregated more than 500 million profiles of potential candidates to date, adding upwards of 10,000 profiles each week to better service its 200+ corporate clients, including leading companies like Facebook, Amazon and UPS.
"It has become clear that we're in the midst of a paradigm shift of how talented professionals are discovered and recruited," said Peter Kazanjy, co-founder of TalentBin. "A year ago, we were the only ones really working on this. Today, this emerging market is becoming much more defined and relevant, and this round of funding helps us stay at the forefront of it."
How TalentBin Works:
TalentBin takes a big data approach to recruiting, with software designed to help recruiters discover hard-to-find technical talent. The company's talent search engine aggregates professionally relevant information based on candidates' activity across hundreds of websites (Facebook, Twitter, Google Plus, Meetup, Quora, etc.) and industry-specific communities (Github, Stack Overflow, Behance, etc.). TalentBin's algorithm then analyzes each person's activity on these sites to provide recruiters with information on skills and interests that rarely appears on LinkedIn profiles, giving them access to people whose resumes wouldn't normally reach their job board.
TalentBin also includes talent search capabilities from "non-social" sources, such as:
- Inventorship records in the U.S. Patent Database
- Participation in open source software email list-serves
- Authorship records in the PubMed life science publication's database
This information, which is not explicitly available on social profiles or easily searchable on the web, gives recruiters a well-rounded look at previously hidden talent.
"What's appealing about TalentBin is that they have the vision to think beyond the current state of the market to what it will be like years from now," said Paul Lee, partner at Lightbank. "We're excited about how the team is incorporating new CRM and marketing automation elements into the recruitment process in a way that has never been done before."
"We like to think of TalentBin as the recruiting version of the 'Tony Stark Iron Man' suit, helping recruiters do their typical duties better, faster and stronger," added Kazanjy. "Not only do we give a more holistic and 'human' snapshot of hard-to-find candidates, but we also provide the tools for communication, pipeline management and reporting...all from one technology platform."
TalentBin was named an "Awesome New Technology" at the prestigious 2012 HR Tech Conference and a "Recruiting Game Changer" at HR Tech Europe's iHR Awards, and recently recognized as a "Cool Vendor Supporting Multiple Nexus Forces" by Gartner.
To find out more, visit http://talentbin.com.
Based in San Francisco, TalentBin is focused on turbo-charging talent acquisition for recruiters and hiring managers with its talent search engine, turning the web into a virtually endless talent sourcing database. By crawling targeted professional networking sites to pull together composite web resumes - adding vital skills and expertise to traditionally sparse profiles – it helps make fast and definitive job matches. TalentBin has aggregated over 500 million professional profiles to date, and provides user access from anywhere as a web application, as a browser plug-in for Google Chrome, or within existing Recruiting CRM, ATS, or HRIS systems through an API. With staff hailing from VMWare, eBay, and LinkedIn, TalentBin is funded by First Round Capital, Lightbank, New Enterprise Associates, Foundation Capital, Charles River Ventures, and Ron Conway's SV Angel. For more, visit www.talentbin.com.