Karat, the company which has built what it calls the “Interviewing Cloud” — essentially, an “interviewing-as-a-service” platform that provides customers with a way to funnel candidates for online interviewers, is on a roll.
The company announced a $110 million Series C funding round at a $1.1 billion valuation.
Karat’s industry-defining human + technology solution delivers live technical interviews on behalf of clients 24/7 while forging deep strategic partnerships that unlock enormous value for engineering and talent acquisition leaders.
“We believe the interview status quo is deeply flawed, hindering the potential for individuals and organizations to truly thrive. Interviews are opportunities to change lives”, claims its website.
The company plans to use the funding to continue building more technology and data science into its process — both to train and guide the interviewers and to analyze the interviewing process to improve it in the future.
“Just like the public cloud moved everyone from private computing to shared infrastructure, Karat’s Interviewing Cloud is upending the old way of do-it-yourself interviewing that eats into valuable engineering time and fails to delight candidates,” said Mohit Bhende, Karat co-founder and CEO. “By professionalizing interviewing and developing purpose-built interviewing technology, Karat enables companies to innovate faster and candidates to showcase their strengths in a comfortable environment”.
Bhende states that the company trains the people based on the data that it sources from past interviews, which in theory gives it a stronger strike rate for identifying strong candidates.
However, Karat’s position that live, technical interviews were far superior to giving actual tests seemed still to be a subject for debate. One of the ways that the interviewing process has been compressed is to rely on tests, which Karat believes are not an accurate enough way to determine a candidate’s real-world problem-solving skills and ability to collaborate with others.
“We have a team of interview scientists trying to identify the perfect candidate interview,” said Jeffrey Spector, the president and the other co-founder of Karat. “We are a competency-driven company and so we are looking for underlying skills and questions that map to the perfect candidate.”
The expertise and data generated from hundreds of thousands of interviews also allow Karat to create more candidate-centric experiences, particularly for software engineers who have been previously overlooked by traditional hiring practices.
The fastest growing and largest enterprises such as Roblox, American Express, Intuit, Compass, and Wayfair trust Karat to expand hiring capacity, unlock developer time, and raise engineering quality so they can innovate and grow.
In the longer perspective, the company may look to bring in interviewers, skillsets, and data to grow beyond technical hiring.
VC LAB comes out with free funding documents for start ups
Aaron Segal Aims To Make Investing In Crypto More Accessible For The Everyday Investor
US news : Average mortgage rates jump ;FDA advises booster shot for COVID
Karat pioneers the Interviewing Cloud to transform technical hiring with $110M funding
A Sneak Peek Into Real Estate Agent Taylor Travaglione’s Upcoming Educational Platform
Idahome Solar Makes Transition to Solar Seamless
Donny Gillies, Metallica’s “Court Painter” Partners with Trust Me Vodka to Adorn the Next 20,000-bottle Collection
Andrew Parry’s BTC Mine Australia Sets The Global Efficiency Standard For Bitcoin Mining
Twitter to allow you to remove followers without blocking them
Netflix ties with Walmart to open hub with unique merchandise
News1 month ago
Indian billionaire Prakash Hinduja is on trial for human trafficking – his son Ajay is also suspected of tax evasion and forgery
Business2 months ago
U.S. approves first arms sale to Taiwan as its citizens ready to party
Business1 year ago
Airlines from US are expecting to get another aid package for $25 billion to keep business from falling
Markets6 months ago
Stocks close higher after two days of fall as UiPath’s stock rises 23% in Market Debut
Business10 months ago
5 ‘value investing’ Sin Stocks of 2021- An Investor Telegraph Exclusive .
Business5 months ago
Top 5 Clean Energy Companies for 2021
Business11 months ago
Delta hints at possible purchase of Boeing’s 737 MAX : Financial Times
Business11 months ago
Chinese jet ready to challenge Airbus and Boeing, C 919 in final testing stage