REDWOOD CITY, Calif., Dec. 14, 2017 /PRNewswire/ -- Stella.ai, the world's first shared talent network powered by artificial intelligence, officially launched for top employers today. Stella.ai dramatically reduces the time and effort that it takes to source qualified candidates. Stella.ai helps companies combine their sourcing reach and provides access to a pre-vetted pool of high-quality and diverse candidates who would not otherwise have applied to any given company.
"Over the past 20 years since I started in the recruiting business, much has changed and technological leverage has been a big part of it. Yet, it is still costly and time-consuming to come up with a vetted, diverse short-list of qualified candidates for each open role," said Adam Zoia, Chairman and Co-Founder of Stella.ai. "Stella.ai utilizes artificial intelligence and machine learning with an original business model of companies sharing all their applicants, to source qualified talent at a fraction the time and cost."
While the technology that powers Stella.ai is complex, the idea of Stella.ai is brilliantly simple. Companies invite candidates to join Stella.ai's shared talent network, which uses artificial intelligence to direct candidates to job opportunities where they are most likely to succeed. Stella.ai then re-routes these pre-qualified and interested candidates, directly to the recruiting managers. There are no changes in workflows, no cumbersome software integrations, and setup time is under one hour, making it a seamless process. Companies pay $2,000 if they hire from the network, and receive referral fees if a candidate that they invite to Stella.ai is placed by Stella.ai which for the first time creates a revenue stream into the HR department.
"It goes against conventional thinking for companies to share candidates, however, Stella.ai's innovative approach to hiring lets us connect with active talent in a highly efficient way," said Matt Schuyler, CHRO for Hilton Worldwide. "We believe Stella.ai's shared talent network can dramatically reduce the time to hire, and more importantly, help Hilton source talent we would never otherwise have identified."
Modernizing the Hiring Process
Traditional job marketplaces are flawed. They rely on candidates to find available positions and determine whether or not they're qualified. In fact, more than 75 percent of applicants for a given role are under- or over-qualified for that position.
Stella.ai turns the tables on the traditional hiring process. Instead of candidates searching for jobs, Stella.ai uses artificial intelligence to help 'jobs find the candidates' – and quickly apply to those for which they are qualified.
"While in stealth mode, we signed up 100 large enterprises for our US national rollout, including 50 of the Fortune 500, with Unilever, Hilton, JetBlue, Rackspace, Charter, Allergan, HBO, Revlon, and Estee Lauder Companies among the brands engaged on the platform," said Richard Joffe, Stella.ai CEO and Co-Founder. "Over time and at scale, through its personalized approach, Stella.ai will help people understand the benefit of having their own 'personal recruiter' power through artificial intelligence. Stella.ai has the potential to literally speed up the labor market, and reduce unemployment – saving companies billions in lost productivity and making our country more competitive."
To date Stella.ai has raised $10M+, led by CRV, Darpa (US Military), and participation from dozens of strategic investors such as: Auren Hoffman (CEO/Co-founder of SafeGraph and LiveRamp); Craig Kallman (CEO of Atlantic Records); Eric Zinterhofer (Founder, Searchlight Capital); Gary Lauder (founder of Lauder Partners); Jason Finger (Founder/CEO, Seamless); Jay Rasulo (ex-CFO Disney); Pete Briger (co-Founder, Fortress Capital); Pete Flint (co-Founder/CEO Trulia and NFX Guild); Peter Arvai (Founder/CEO, Prezi); Todd Fisher (CAO, KKR); and Wade Davis (CFO Viacom).
"Businesses and their leaders will face some extraordinary challenges when it comes to talent recruitment in the years ahead," said Jon Auerbach, General Partner at CRV. "Stella.ai has identified these challenges, and through its work with dozens of Fortune 500 clients and strategic investors is well positioned to be the first breakout company since LinkedIn to answer company's pressing questions about their future talent pipelines and human capital strategies."
For more information, please visit Stella.ai.
Stella.ai is based in Redwood City, California. The company officially launched in December 2017, after raising over $10M to create the first shared talent network for top employers. Among its many innovations, Stella.ai uses artificial intelligence to drastically reduce the time it takes to source qualified candidates and companies gain a significant competitive advantage that comes with immediate access to a new, vetted pool of high-quality, diverse candidates who might never have applied to their business otherwise.
Stella.ai established partnerships with more than 100 companies across the US, including 50 Fortune 500 companies, such as Unilever, Hilton, JetBlue, Rackspace, Charter, Allergan, HBO, Revlon, and Estee Lauder Companies.
Grayling Public Relations