Berlin-based jobpal is a software company supporting the enterprise sector to improve talent engagement and interaction. Today, the company announced €2.5 million in funding from InReach Ventures and Acadian Ventures.
Jobpal already lists leading global companies such as Airbus, Deutsche Telekom and McDonald’s among its customers, helping them to transform their talent experience and make the hiring process more efficient using machine learning and natural language processing. Given its enterprise focus, jobpal is already integrated with the leading Human Capital Management suites including SAP SuccessFactors, Workday, Oracle (formerly Taleo), Avature and Smartrecruiters. This new investment will be used by jobpal for further product development and tripling the company’s headcount in the next 12 months.
Every enterprise is looking to transform the way it interacts with talent. Clients are using jobpal’s proprietary Natural Language Processing (NLP) technology to make the experience more human, intuitive and user-centric. jobpal enables large enterprises to automate talent interaction, from initial interest to the application to onboarding, whilst providing talent with automated assistance throughout the experience 24/7.
Jobpal has been working on its conversational intelligence since 2016 – always focusing on talent interactions. Through automating communication, potential candidates and internal talent can engage with the employer, when they want, on platforms they know and trust (including WhatsApp, Facebook Messenger, WeChat and SMS). This low-friction approach delivers great accessibility and convenience for candidates, combined with increased conversion rates.
“We recognised the huge potential of combining messaging applications and chatbots to fundamentally change the candidate experience,” said Luc Dudler, co-founder and CEO of jobpal. “If companies can reply back to candidates in a matter of seconds, rather than days or weeks, it will massively improve the experience of that firm and increase the efficiency of the process. In fact, 60% of the interactions our chatbots currently receive happen outside traditional business hours, which shows how important it is for enterprises to be available to respond to candidates 24/7.”
“Candidates’ expectations are very different today than they were only a few years ago,” said David Mills, chatbot product leader at Airbus. “We’ve seen a phenomenal success using jobpal – something that far outstripped what we were expecting. The number of questions we get is far more than we ever received via email, so being able to answer all these questions automatically helps ensure that we can deliver a great candidate experience.”
“Using our proprietary software (DIG), we look to discover and evaluate the most promising European startups,” said Roberto Bonanzinga, partner and co-founder of InReach Ventures. “jobpal ticks all the boxes we look for when it comes to a great business idea coupled with the company’s ability to execute on the product. In a world where winning the fight over talent is key to any company’s success, we believe that jobpal’s team is uniquely positioned to transform the way in which large corporates engage with new talent using AI-powered chatbots.”
Acadian Ventures is a new early-stage venture capital firm dedicated to supporting the next- generation of companies redefining the ‘Future of Work’. It was founded by Jason Corsello, who previously led the corporate venture capital (CVC) fund as the SVP of Strategy and Corporate Development for Cornerstone OnDemand. Its mission is to invest in companies transforming work and leveraging technology to make everyone’s working life simpler, better and more productive.
“Companies spend over $200 billion on recruiting worldwide, yet after 20 years of investment in recruiting technologies, we have barely moved the needle on the candidate experience,” said Jason Corsello, founder and general partner, Acadian Ventures. “If Amazon can tailor our shopping experience and Spotify can personalise our playlist, companies should be able to create a unique candidate experience for all job seekers. We love that jobpal does this and more, delivering value to all stakeholders in the recruiting process. It’s not very often you find early-stage companies with such an iconic list of customers and we are excited to partner with jobpal to help accelerate its business and execute its vision.”