Ambler-based Phenom has raised $100 million in the latest funding round. This values the recruiting and human resources software maker at $1.3 billion, writes Katie Roof for Bloomberg.
This largest funding round for the company to date was led by B Capital Group. Dragoneer, OMERS Growth Equity, and GoldenArc Capital were also participants.
Phenom’s Talent Experience Management platform uses artificial intelligence to automate various administrative tasks. It also personalizes the experience for candidates, recruiters, employees, and hiring managers. This way, it provides modern solutions for companies to attract and retain the best talent.
The company works with clients such as Southwest Airlines and Newell Brands among its clients. Last year, its platform helped around 25,000 recruiters, talent marketers, and hiring managers to hire over 2 million people.
“We have rooted our platform in intelligence versus simply adding AI as a single tool or feature,” said co-founder and CEO Mahe Bayireddi. “This makes our AI dramatically different, and helps us cultivate a healthy talent ecosystem.”
And while the company is still not planning to go public, Rashmi Gopinath, general partner at B Capital Group, said that the option could be on the table “sometime in the not-so-distant future.”