Restless Bandit, a San Francisco, CA-based HR software company, raised $10m in financing.
Backers included GGV Capital and Toba Capital. In conjunction with the funding, GGV Capital Managing Partner Glenn Solomon, will join the Restless Bandit Board of Directors as an Observer.
The company will use the combined $8m Series A and $2m seed round to build out the team and continue to power the data science behind its Talent Rediscovery platform and Resume Refresh products.
Led by founder and CEO Steve Goodman, Restless Bandit provides a software platform that uses talent matching algorithms to programmatically rediscover and reach out to the best candidates already in a customer’s applicant tracking system and Human Resources information system.
The company aggregated more than 120 million job descriptions and 30 million resumes to train its algorithms. It tracks hundreds of resume variables against open job requisitions that help determine the fitness of a candidate for consideration.
Restless Bandit’s products Resume Refresh and Talent Rediscovery integrate with an organization’s recruiting workflow. The Resume Refresh product automatically updates resumes already submitted to companies with publicly available data to prevent resume decay, unlocking the value of past applicants instead of paying to recruit them again. The Talent Rediscovery tool looks for new candidates, discovering the best matched applicants in an existing resume database in real time.
Clients include Gannett (USA Today), IHOP, Applebee’s, comScore, Rosewood Hotels, Cabot Corporation, Aimco among others.