Israeli human resources technology developer Actiview has raised $10 million in a Series A financing round led by Teddy Sagi Group. The company has raised $18 million to date including the latest investment.
Actiview is an HR-Tech company which develops virtual reality (VR) and machine learning (ML) technology. The company helps organizations to find the most suitable employees for their needs. Actiview helps reduce mistakes in the hiring process, provides a unique and fascinating job application experience, the swiftest selection procedures, and improves the quality of staff in the organization.
Actiview was founded in 2016 by CEO Matanel Libi, Tal Koelewyn, and Gil Asher, graduates of special army technology units, and the company today has about 60 employees, of whom 55 are based in the company's headquarters in Lod, and the others in Europe, the US and Asia. A large part of the company's employees are scientists with doctorates, and experts in various disciplines and graduates of elite technological units in the Israel Defense Forces.
The company is already operating in over 10 countries including Japan, the US, and Brazil and among its customers are leading organizations from a range of industries including the Israel Defense Forces, Mitsubishi, financial consultants Deloitte, CAL, Israel Chemicals, SM Investments Corporation, Northwestern University and more. At this stage, Actiview has dozens of customers with tens and even hundreds of thousands of employees and the revenue of these companies in estimated in the billions of dollars.
The funds raised will allow Actiview to enter new markets and expand its areas of activity. As part of this, Actiview recently launched a collaboration with international university INSEAD. The two partners will together set up the world's first academic VR classes.
The company's flagship product Assense is an innovative platform which carries announcements in the field of recruiting with appraisals of applicants. The system uses technology combining virtual reality and machine learning in order to give the applicant simulated tasks and cases from the work environment and test their conduct in the relevant situations. The system collects information about behavior patterns, analyzes them and provides an estimate of the behavioral and cognitive profile of the candidate.
The aim of the innovative system, rooted in measurement and data based procedures, is to produce deep insights for HR managers and predict the suitable candidate for an organization, for a team or for a position for which they have applied. Before the evaluation of the applicant is carried out, the algorithms learn about the organization and thus allow an accurate definition of the attributes and skills of the most suitable employees. This adjustment reduces the various mistakes which influence objective decision making, assist in shortening the time required make a comprehensive assessment, and contribute to empowering the experience of applicants during the selection process.
Actiview also works in close cooperation with leading academic institutions in the field. Since Actiview selects employees for many companies, it holds significant data about the job world and can create interesting findings, examining the connection between successful performance in organizations and various countries.
Libi said, "Since the company was founded, we have striven to stay out of the public eye in order to develop advanced technologies that can bring genuine good news in the field of neurological science and through it to the world of HR and other content worlds."
He added, "Our technology is grounded in the integration between the worlds of neurological science, data science, and behavioral science. Due to developments and deep research, we can change the world of evaluations from end to end and let conceptual information analyze pure behavior, which provides a reliable forecast about the suitability of an applicant to the organization taking them in."
Published by Globes, Israel business news - en.globes.co.il - on February 20, 2020
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