SAN FRANCISCO, July 21, 2020 /PRNewswire/ -- Crosschq, pioneers of a new software category for the recruiting industry called Human Intelligence Hiring™, announced today a new round of financing that includes investment from Tiger Global Management and Rocketship.vc. This latest round comes immediately following a strategic financing from Slack and SAP.iO in June which also included re-investment from GGV Capital and Bessemer Ventures.
"We are proud to be partnering with these two great firms as we enter the next phase of our growth," said Mike Fitzsimmons, CEO of Crosschq. "If we have learned anything from the last several months, it is that the future of work is ripe for disruption. Our use of human intelligence is becoming a foundational element of modern company building."
Crosschq brings speed, efficiency, accuracy, transparency and accountability to the obsolete, manual process of vetting new job candidates. The new investment comes as Crosschq crosses the 100 customer milestone with customers including Dish, NBA, Upwork, Snowflake, NerdWallet and Glassdoor using the platform to enhance recruiting and make better hires.
"SAP strongly believes that the future of work is inclusive and diverse, and that starts with removing biases in the candidate experience," said Ram Jambunathan, SAP senior vice president at and managing director of SAP.iO. "Crosschq will bring increased objectivity and consistency to the candidate reference checking process, thereby improving outcomes for both candidates and SAP customers."
Crosschq will use the new cash injection to strengthen its core product, grow its team, expand partnerships and focus on building out additional data and analytics capabilities.
"The team at Rocketship got excited when we realized how insightful Crosschq's data is in predicting new hire success," added Anand Rajaraman, co-founder and partner Rocketship.vc and a pioneer in data science. "Over time, this data-driven approach to hiring has the ability to fundamentally transform the $74B recruiting industry."
Rocketship.vc is a global early-stage venture capital firm that is pioneering the use of data in making investment decisions. Rocketship uses machine learning to find and partner with some of the world's most exciting companies in technology, consumer and healthcare. Founded by a world class team of data scientists and entrepreneurs at companies like Amazon, @Walmartlabs and Kosmix, the firm helps founders get to unprecedented scale through a combination of data, ML expertise and deep experience in building companies. Rocketship is based in Silicon Valley with more than 40 investments across India, Southeast Asia, Latin America, Europe and North America.
SAP.iO is SAP's strategic business unit to accelerate innovation and drive new business models for SAP. The SAP.iO Fund makes investments in early-stage startups building innovative solutions that enable customers to receive highly incremental value from SAP platforms and applications. The SAP.iO Foundries are a global network of equity-free accelerator programs in strategic startup hubs providing startups access to mentorship, exposure to SAP technologies and integration support, and opportunities to meet and collaborate with SAP customers. Learn more at https://SAP.iO/
Slack has transformed business communication. It's the leading channel-based messaging platform, used by millions to align their teams, unify their systems, and drive their businesses forward. Only Slack offers a secure, enterprise-grade environment that can scale with the largest companies in the world. It is a new layer of the business technology stack where people can work together more effectively, connect all their other software tools and services, and find the information they need to do their best work. Slack is where work happens.
About Tiger Global Management
Tiger Global Management, LLC is an investment firm that deploys capital globally. The firm's fundamentally oriented investments focus primarily on the global internet, software, financial technology, consumer and industrial sectors. The private equity strategy has a ten-year investment horizon and targets growth-oriented private companies. Such investments have included Spotify, Harry's, Warby Parker, Peloton, JD.com, Facebook, LinkedIn, Yandex, Mail.ru Group, Despegar, Ola and Flipkart. The public equity efforts emphasize deep due diligence on individual companies and long-term secular themes. Tiger Global Management, LLC, was founded in 2001 and is based in New York with affiliate offices in Hong Kong, Singapore, Bangalore and Melbourne.
Crosschq™ has pioneered Human Intelligence Hiring, the next essential software category for building great companies. Through proprietary software and science, Crosschq gathers people-driven insights from job seekers and those who know them best and converts those insights into predictive data. Crosschq data can be used to ensure people and businesses are well-matched, creating long-term, successful employees and winning workplace cultures. The company's cloud-based SaaS solutions were built with a talent-first approach that prioritizes trust and transparency, minimizes bias and protects privacy. Founded in 2018, Crosschq is backed by GGV Capital, Bessemer Ventures Partners, SAP, Slack and other well-known Silicon Valley Investors. To learn more, visit crosschq.com.