pymetrics, a NYC-based enterprise SaaS company that uses neuroscience and AI to improve the recruitment process, closed a $40m Series B funding.
The round was led by General Atlantic, with participation from new investors Salesforce Ventures and Workday Ventures, and existing investors Khosla Ventures and Jazz Venture Partners.
The company intends to use the funds to continue to accelerate international expansion while continuing innovative product development.
Founded in 2013 and a 2014 graduate of the Partnership Fund for New York City and Accenture’s FinTech Innovation Lab, pymetrics utilizes neuroscience and AI to assess job applicants across a range of cognitive, social, and emotional traits and algorithmically recommend the best-suited candidates to companies.
The company’s algorithms are proactively audited for demographic bias using an algorithm bias detection tool, which evaluates candidates based on their cognitive and emotional traits rather than their resume, making the process free of gender, race, and socioeconomic bias.
If a person is not appropriate for the initial job, pymetrics will match the individual to other opportunities within the same, or at a different, company.
The pymetrics platform also allows companies with internal mobility, workforce insights, and reskilling, matching existing employees with new roles within their organization.
The solution is used by companies like Unilever, Accenture, among others.