German startup Jobpal announced October 1st €2.5 million of funding. This new investment from InReach Ventures and Acadian Ventures will be used for further product development and tripling the company’s headcount in the next 12 months.
Jobpal’s clients use their proprietary Natural Language Processing (NLP) technology to make the talent 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. Companies such as Airbus, Deutsche Telekom and McDonald’s are already using it.
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.
Outside business hours
Luc Dudler, co-founder and CEO of Jobpal, and his colleagues recognised the huge potential of combining messaging applications and chatbots to fundamentally change the candidate experience: “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.”
“60% of the interactions our chatbots currently receive happen outside traditional business hours.”
Future of Work
Acadian Ventures is a new early-stage venture capital firm dedicated to supporting the next- generation of companies redefining the ‘Future of Work’. According to Jason Corsello, 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. 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.”
“Companies spend over $200 billion on recruiting worldwide.”
InReach Ventures is the AI-powered venture capital firm investing in early-stage European start-ups. Roberto Bonanzinga, partner and co-founder of InReach Ventures, commented, “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.”
Recruitment Tech TV interviewed in April 2019 Co-founder and VP Sales Christoph Gueldenberg from Jobpal at Talent Acquisition Live in Amsterdam.