Mahe BayireddiApril 06, 2021
Topics: News

Phenom Announces $100M Series D, Signaling Talent Experience’s Role in the Next Era of HR

As anticipation builds for economic stability and a hiring resurgence, HR leaders and hiring managers have never faced greater pressure to find the right talent and ensure their employees have the resources to grow and take charge of their careers.

With Talent Experience bringing personalization and automation throughout the talent journey, they can be ready.

Read the full press release announcement >

Why Talent Experience Management Exists

Since Phenom’s earliest days in 2010, we have been driven by a bold purpose: to help a billion people find the right job. We wholeheartedly believed this company and our category-creating AI-powered Talent Experience Management (TXM) platform would transform how organizations hire talent, and how employees realize their true potential.

And that is exactly what Talent Experience is empowering over 400 global enterprises to do — by hyper-personalizing the experiences for all key stakeholders within the talent ecosystem (candidates, employees, recruiters, and managers), and delivering a system of intelligence to enterprises so they can improve productivity and automation.

To further our ability to serve the largest and most forward-thinking companies in the world, we announced a $100 million Series D round, led by B Capital Group, with participation from Dragoneer Investment Group, OMERS Growth Equity, and GoldenArc Capital. We thank them and our existing investors for believing in our long-term purpose, as well as the impact we will have on the way people work, hire, and grow.

As a purpose-driven company, this capital not only further enables us to help a billion people find the right job. It also positions us to grow our presence in global markets, and expand our intelligent talent experience platform for enterprises preparing to rebuild the post-pandemic talent economy.

The Critical Role of AI & Automation in the Next Era of HR

For the countless talent teams impacted by the pandemic (tasked to do more with less, to reallocate workforces, to ramp up virtual hiring, to rehire alumni employees, or a combination of all of the above), artificial intelligence and automation became critical to offload tedious, manual work like screening, scheduling, and identifying best-fit and engaged candidates.

The Phenom platform automates these tasks and personalizes experiences so candidates find the right job faster, employees learn and evolve, recruiters discover best-fit talent, and hiring managers make stronger data-driven decisions to build their teams.

Moving forward, a company’s successful talent evolution will depend on their ability to become an intelligent enterprise that harnesses data, automates HR processes, and humanizes stakeholder experiences.

Phenom's system of intelligence exists at the core of TXM, built on a vast network of data, contextual industry models, and deep learning. Interpreting billions of events and human interactions, Phenom AI delivers personalization, conversation, insights, and automation throughout the talent journey. The power of Phenom’s intelligence is based on over 25 billion interactions per year — as well as 1 billion-plus candidate profiles across 180 countries, 400 million jobs, 154 million job titles, and 27 million skills in multiple languages.

We aren’t here to build a new AI tool; AI is woven into the very fabric of TXM. Intelligence exists throughout our platform — not tacked on as an afterthought — to optimize and personalize the experience throughout the talent journey.

How Phenom TXM Exceeds Enterprise Needs

Delivering hyper-personalized experiences has become more essential than ever, and Phenom is keeping companies ahead of the curve to ensure they’re ready to succeed in the upcoming battle for talent.

Over the last year, many CHROs shared how their teams adapted to change, embraced empathy, and persevered during a time of uncertainty — from company layoffs and furloughs to ramping up hiring and adjusting to remote work. At Phenom, we found ways to support the best way we knew how: through rapid innovation and partnership with our customers.

In 2020 alone, our TXM platform was adopted by 25,000 recruiters, talent marketers, and hiring managers — helping them hire over 2 million people and engage over 3 million employees. Phenom customers have also leveraged TXM to drive incredible outcomes:

  • A media company increased completed applications by 300%
  • A healthcare company hired 451 critical nurses over just seven weeks
  • A conglomerate fueled over 6,500 internal referrals per month
  • A logistics company decreased time to fill for internal hiring by 20%
  • A software corporation automated 90% of interview scheduling, saving 24,000 hours
  • A hospitality company engaged 18,000 candidates through chatbot, reducing time to apply by 78%
  • A technology company experienced a 25% decrease in time to fill by using talent CRM campaigns
  • An entertainment company drove 33,000 visits to their alumni portal, resulting in 900 applications

All of this has only been possible by adding to TXM significantly over the years, particularly in these key experiences:

  • Candidate Experience: Personalized Career Sites, Intelligent Search, Conversational Chatbot, Content Management System, Event Management, University Recruiting
  • Recruiter Experience: CRM, Talent Pipelining, Job Matching, Dynamic Fit Scoring, Conversational Scheduling, On-Demand Video Assessments, Omnichannel Campaigns (Email, SMS, WhatsApp)
  • Employee Experience: Internal Mobility, Career Pathing, Mentoring, Talent Marketplace, Employee Resource Groups, Referrals
  • Management Experience: Hiring Manager Dashboard, Skill Gap Analysis, Forecasting, Succession Planning, and Talent Analytics
  • Integration Experience: Self-service Hub, Flow Studio, Forms, Integrations

Looking Forward

Our customer-first obsession means we’ll continue to serve enterprises by innovating and expanding our platform, growing our global team, and providing unrivaled support.

Every industry is different, every customer is different. Localizing and personalizing their experiences will be critical to the long-term success of their talent goals and overall business objectives. By accounting for the nuances unique to every end user, we are building the kind of customer loyalty and enthusiasm earned by the companies that truly offer the best of the best to every single customer.

Between Phenom’s incredible team of dedicated employees, our supportive investors, customers and partners, and our continued expansion across the globe, I have no doubt we will get there. I thank each and every one of you for your contributions in helping us reach this point in our journey.

Join us for a webinar on April 28 to learn about AI and Automation in the next era of HR!

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