TaTiO, a Tel Aviv, Israel-based work tech company that developed a platform helping companies fill open positions with qualified workers, announced that it completed $5.3 million in seed funding to help understaffed companies access America's untapped workforce.
The round was led by Mensch Capital Partners and Cresson Management, with participation from Cerca Discovery, Tau Ventures Ltd., Techstars, and Good Company.
"On average, an employer will receive 250 applications for each job position, while the average time spent looking at a resume is a mere 5-7 seconds," said Maya Huber, CEO of TaTiO. "There is an ever-growing need for companies to find vetted, qualified employees. The current method of job hiring is outdated, ineffective, and often biased. With TaTiO, we've created a new way to hire—instead of vetting people out, and we vet them in. We're changing the reality of the workforce by minimizing the time and cost of hiring, improving employee retention rates, and reducing hiring bias."
TaTiO utilizes an AI-powered job simulation platform to find and pair qualified and often disadvantaged candidates with the right job.
Company: TaTiO
Raised: $5.3M
Round: Seed Round
Funding Month: October 2022
Lead Investors: Mensch Capital Partners and Cresson Management
Additional Investors: Cerca Discovery, Tau Ventures Ltd., Techstars, and Good Company
Company Website: https://www.tatio.io/
Software Category: AI-powered Job Simulation Platform
About the Company: Founded by Maya Huber, Ph.D., and Mor Panfil, they launched TaTiO together with R&D expert Nir Familier to solve the systemic issues in the job hiring process. TaTiO is a competencies-based sourcing platform that assesses its candidates beforehand using smart simulations. It sources and vets job seekers with their AI work experience simulations and provides employers with pre-qualified candidates to interview. TaTiO offers a method of job recruitment that eliminates the fixation on resumes, instead focusing on skills. TaTiO sources potential candidates and provides realistic job simulation tasks that predict their aptitude for various careers. TaTiO continuously learns about the employer's preferences, improving their applicant-to-hire ratio.
Source: https://www.calcalistech.com/ctechnews/article/bjhqxus7j