GoodTime raises million to bring artificial intelligence into the interview process
GoodTime, the algorithmically enhanced interview process management platform, has raised $5 million in a new round of funding led by Bullpen Capital.
The company uses natural language processing to link interview candidates with the right interviewers inside an organization. The idea is to make the hiring process run more smoothly for large organizations and give overworked human resources staffers a new organizational tool in their toolbox to build better staffing processes.
To do this Ahryun Moon, Jasper Sone and Peter Lee, the co-founders of GoodTime, have built a tool that uses the calendar as its organizing principle. The idea is that the sooner interviews can be booked with the right people, the better it is for an organization.
Staffing is about more than just setting up an interview, though, so GoodTime also factors in relevant information about both an applicant and an interviewer including data like gender, ethnicity, and relevant university and previous work-history information.
Recruiting coordinators can manage the entire process and make it as frictionless as possible for companies — and in this competitive hiring environment, companies may run the risk of losing out if they can’t pull the trigger on a potential applicant quickly enough.
It’s a problem that GoodTime’s chief executive, Moon, knows all too well. As a former recruiting coordinator at Mulesoft, Airbnb and Dropbox, Moon is well-versed in the problems of recruiting professionals.
She even managed to convince her former employers at Airbnb and Dropbox to adopt the new platform. Those companies have seen their applicants confirm interviews within three hours by using the platform and seen their time-to-hire rates reduced by 40%, according to a statement from the company.
GoodTime, which was seed funded last year with a $2 million investment from Walden Ventures and Big Basin Capital, managed to attract the education and staffing focused investment GSV Accelerate, and Array.vc to its latest round. GoodTime is also a graduate of the Alchemist Accelerator program.
Based in San Francisco, GoodTime currently has 18 employees on staff and has reached profitability on the strength of its existing customers.