Recruitment software startup Reejig has scored $2.2 million from VC firm Right Click Capital and Arun Krishnankutty from OMKA Group in its first capital raise.
Founded last year, Reejig uses artificial intelligence to analyse talent data to help companies find, recruit and develop talent, connecting HR systems providing insights into the skills of their workforce.
It also helps tackle issues such as gender bias and talent sourcing and ongoing issues such as talent retention and attrition, also using the AI to predict when a competitor’s staff are likely to move and when to engage them.
CEO and co-founder Siobhan Savage said AI and data analysis bring “phenomenal” benefits to the workforce.
“What’s unique about our product is the fact that it’s been developed while working alongside our customers – our core focus is to ensure our technology meets their evolving, complex needs when it comes to people management,” she said.
“Our customers include large global private enterprises, governments and academia. We target these groups specifically as they have some of the most complex workforces and they are at the forefront of the future of work. Our technology has helped our customers maintain stronger talent pipelines, reduce the time and cost of hiring, integrate disconnected systems, and considerably improve staff mobility, productivity, retention and succession.”
Reejig’s platform also contains market, industry and competitor intelligence about salary insights and the all-important skills gaps and skills of the future.
Savage said her startup is positioning itself to address the radical and rapid change in how companies manage talent.
“Labour shortages are increasing and competition to secure the best talent is brutal. Automation and AI technology such as Reejig are critical components in helping companies to design the workforces of the tomorrow, today,” she said
Right Click Capital partnew Garry Visontay said Reejig is at the forefront of solving complex future of work challenges for large enterprises and governments.
“We believe the company will quickly become a leader in the HR technology space and we see the team’s solution as having global scalability,” he said.
Reejig will use the funding to scale its next generation software as a service product.