San Francisco, Tel Aviv, October 23rd., 2018 – STELLARES, a stealth mode startup looking to revolutionize talent acquisition with the power of AI has closed a $3.5 million dollar seed round, led by Jerusalem Venture Partners (JVP).
STELLARES was founded in 2016 by entrepreneurs Roi Chobadi and Andy Katz. The company has developed an algorithm based on AI that serves as the foundation of a recruitment platform that helps find better matches between the personal and professional goals of talent and possible employers. Stellares is first targeting the engineering market within the U.S, a $2Bn market, over the next 2-3 years before expanding to the entire tech sector which creates $10Bn of recruiting fees.
While traditional recruitment platforms generally focus on criteria like job description, salary, and benefits, STELLARES is looking to redefine these criteria and to match talent based on what people today are seeking from their place of employment: work-life balance, professional development goals, impact and fit. This leads to a better match between places of employment and talent.
STELLARES operates under the assumption that today, places of work have become the center of most peoples’ lives. This is why criteria like work-life balance, social fit, management styles of supervisors are so important to job seekers. The company’s algorithm scans and analyzes the digital footprint of both employers and talent and helps create a better match between the two based on various topics, including commonalities and hobbies of talent and management, compatible management approaches, social compatibility, commute time and policies such as brining pets to the office.
“Our A.I. learns about the candidate talent by crawling the web and NLU-ing (natural language understanding) candidates’ digital footprint and by asking them a set of 15-20 questions about who they are, what’s important to them, and where they’d like to be in their careers,” explains Roi Chobadi, CEO of STELLARES. “STELLARES – which constantly crawls the web to learn about companies, their development, cultures, etc – presents each user a few tailor-fit opportunities.
STELLARES also works directly with tech companies, offering them introductions to top tech talent after a few minutes of work. k. STELLARES helps recruiters become more efficient, offering a very easy to use dashboard and a high matching accuracy; on average recruiters ask to meet with 60% of the talent presented to them. It’s so time-efficient that in many cases the hiring managers themselves opt to use STELLARES in addition to the recruiting team.
“Artificial intelligence is revolutionizing our world. Serindipitous results based on this disruptive discipline can be evidenced already in many aspects of our lives. However, some of life’s most critical decisions, such as career choice, remain elusive. This is where Stellares comes in.” , Stated Yoav Tzruya, General Partner at JVP. “Stellares unique approach to matchmaking not only in a quantitative manner, but also matching soft skills, interests, psychological aspects and more, all automatically, using AI, are key to finding the right match for both individuals and recruiting organizations”
STELLARES (latin plural of “stellar”) is an A.I.-powered startup that helps stellar technical talent effortlessly explore unique, tailor-fit career opportunities beyond their existing network. STELLARES learns about candidates and companies by crawling the web and through a simple chat bot and then makes very few, tailor-fit double opt-in introductions. When matching, STELLARES’s A.I. goes deeper than other job platforms, considering complicated aspects such as talent’s personality, learning goals, career/life balance preferences, etc.
Founded in 2016, the company is headquartered in San Francisco with an R&D office in Tel Aviv. For more information, visit www.STELLARES.ai
About Jerusalem Venture Partners (JVP):
Jerusalem Venture Partners (JVP), is an internationally renowned venture capital fund based in Israel. Established in 1993 by Dr. Erel Margalit, JVP has raised to date $1.3 billion across 8 funds, and has been ranked numerous times by Preqin as one of the top-ten consistently performing VC firms worldwide. JVP has built over 120 companies, leveraging a broad network of partners and market expertise to help companies to become global market leaders. Among the pioneering firms of the Israeli venture capital industry, JVP has been instrumental in building some of the largest companies out of Israel, facilitating 12 Initial Public Offerings on NASDAQ and numerous industry sales. With a view to building industry leaders, JVP invests in early through growth stage companies in the spaces of Cyber-Security, Big Data, Fintech, Enterprise Software, Storage, Mobile, Media and IoT.
About the recruiting market – The global recruiting market is $420 billion, which to put into perspective is about three times the size of the employee training market. The reason for this is that more than 20 percent of all workers change jobs every year, so employers are constantly advertising, sourcing, recruiting, interviewing, assessing, and onboarding new people. Of the entire recruiting market, tech recruiting fees globally amount to $50Bn. Stellares’ target market, the U.S tech sector creates $10Bn of recruiting fees. With a vision to eventually serve the entire spectrum of job positions in tech, from R&D to Sales/Business development, Stellares is first targeting the engineering market within the U.S, a $2Bn market, over the next 2-3 years.