Phenom announced a $100 million Series D round. The capital ensures Phenom can remain focused on fulfilling its purpose — to help a billion people find the right job — above all else.
Innovate
B Capital Group led the round, which also had participation from Dragoneer Investment Group, OMERS Growth Equity and GoldenArc Capital. With new funding Phenom, the world’s most widely used AI-powered talent experience platform, continues to innovate its Talent Experience Management (TXM) platform for organizations adopting AI holistically in a post-COVID era. As a result, candidates find the right job faster; employees learn and evolve; recruiters discover best-fit talent with efficiency and scale; and managers make stronger data-driven decisions to build their future teams.
HR leaders have never faced greater pressure to hire the right candidates and unlock the true potential of their employees. Over 400 global enterprises — including nearly 50 Fortune 500 companies — depend on Phenom’s intelligence as they compete for talent in the most fluid labor market ever. More than 100 million workers may need to switch occupations by 2030, up to a 25% increase from before the pandemic. Phenom is preparing its customers for a crush at the labor market’s inflection point — when job supply starts to close the gap with demand. Enterprises like Southwest Airlines, Newell Brands, Land O’Lakes, AXA and Radian Group Inc. have turned to Phenom, replacing inefficient talent processes with a modern experience platform backed by artificial intelligence.
Purpose-driven company
“At Phenom, we’ve always been a purpose-driven company, and that will never change”, said Mahe Bayireddi, CEO and co-founder of Phenom. “Since the beginning, we have rooted our platform in intelligence versus simply adding AI as a single tool or feature. This makes our AI dramatically different, and helps us cultivate a healthy talent ecosystem. Jobs are the foundation of thriving societies around the world. They provide livelihoods and help people reach their full potential. As organizations respond to a seismic shift in how they approach and manage talent, Phenom is scaling with conviction, so everyone has the resources to succeed in times of both volatility and stability.”
Phenom’s system of intelligence exists at the core of TXM, built on a vast network of data, contextual industry models and deep learning. Interpreting billions of events and human interactions, Phenom AI delivers personalization, conversation, insights and automation throughout the talent journey. The power of Phenom’s intelligence is based on over 25 billion interactions per year — as well as 1 billion-plus candidate profiles across 180 countries; 400 million jobs, 154 million job titles and 27 million skills in multiple languages.
Steps ahead
“Phenom keeps their customers several steps ahead of a workforce in rapid transformation and well-positioned to win the battle for attracting and retaining top talent”, said Rashmi Gopinath, general partner at B Capital Group. “With artificial intelligence and a modern, data-driven approach, Phenom’s TXM platform enables hundreds of enterprises to bridge the gap between people, processes and systems. We are excited to partner with the Phenom team on their bold purpose to help a billion people find the right job.”
Interview at Unleash
At the end of 2019 Recruitmenttrech.com spoke with Jonothan Dale from Phenom People about what the organisation’s goals are. Read the article here or watch the interview below.
About Phenom People
Phenom People delivers the Phenom Talent Experience Management (TXM) platform to transform the talent journey from interested candidates to thriving employees to enthusiastic brand advocates, while helping HR break the stereotype of being a cost center instead of a revenue generator.
