Entelo today announced that it has closed a $20 million Series C financing round led by U.S. Venture Partners with participation from existing investors Battery Ventures and Shasta Ventures and new investment from Correlation Ventures. Entelo's solution currently serves more than 600 companies including Capital One, Cisco, Facebook, GE, Genentech, Netflix, Northrop Grumman, and Target. The company will use the new funds to continue its investment in artificial intelligence (AI) and to accelerate hiring across all teams.
"We are impressed by Entelo's vision of a world in which jobs find people instead of people finding jobs," said Rick Lewis, U.S. Venture Partners. "We admire their progress on that vision and believe Entelo is at the forefront of innovation in the recruiting technology landscape. We are excited to partner with them to build an iconic company."
According to the Deloitte Human Capital Trends report, 61% of today's CEOs report they do not believe they are recruiting fast enough or well enough, and the process has become enormously complex. Entelo applies intelligence to big data and automates workflows to provide recruiting teams with actionable insights, higher candidate engagement, and increased productivity.
"When recruiting for senior-level and executive roles, I have to be high-touch and targeted," said TJ Bonner, Executive Recruiter at GE Digital. "Having access to additional data points and social profiles in Entelo means I can connect more authentically and deliver a better candidate experience."
Entelo also announced newly forged strategic relationships with several world-class data providers, including Equifax Inc., FullContact and InsideView. Through these relationships, Entelo's customers gain even more robust profile information with which to personalize outreach to qualified candidates, resulting in higher engagement rates and better recruiting results.
"The talent acquisition technology landscape has become increasingly complex and companies are keen to make smart investments," said Madeline Laurano, co-founder and Chief Research Officer of Aptitude Research. "Entelo is at the forefront of how advanced AI can deliver qualified candidates quickly and we anticipate the addition of their new data partnerships will further differentiate their solutions."
"The impact of data-driven and data science-driven talent acquisition is going to be tremendous," said Jon Bischke, founder and CEO of Entelo. "This round enables us to accelerate product development that will underscore Entelo's position as the market leader in applying the latest technologies to the hiring process."
About U.S. Venture Partners
U.S. Venture Partners is a leading Silicon Valley venture capital firm, partnering with entrepreneurs to transform their ideas into world-changing companies. U.S. Venture Partners has invested in over 400 companies spanning three decades, including: Box, Castlight Health, Check Point Software, Concur, GoPro, Guidewire Software, HotelTonight, Imperva, InsideSales.com, Intersect ENT, Omada Health, SanDisk, Sun Microsystems, Trunk Club, Trusteer, Yammer and Zerto. U.S. Venture Partners focuses on early-stage start-ups that transform cybersecurity, enterprise software, consumer mobile and e-commerce, and healthcare. The U.S. Venture Partners team consists of former entrepreneurs, technologists, corporate executives, and financial professionals who assist with strategy, scaling, team building, product development, and business development. U.S. Venture Partners is based in Menlo Park, California. More information can be found at www.usvp.com.
About Entelo
Entelo applies intelligence to big data to help modern recruiters find, qualify, and acquire talent. Today over 600 customers of all sizes and industries trust Entelo to provide their talent acquisition teams with higher candidate engagement, actionable insights, and increased productivity. To learn how leading companies such as Capital One, Cisco, Facebook, GE, Genentech, Netflix, Northrop Grumman, and Target are building their organizations using Entelo, visit www.entelo.com.