Phenom People, a leading Talent Experience Management (TXM) platform based out of Philadelphia announced that it has raised $30 Mn in Series C funding, bringing total investments to $61 million. The round is led by WestBridge Capital, with participation from AllianceBernstein. Existing investors include AXA Venture Partners, Sierra Ventures, Omidyar Ventures, Sigma Prime Ventures, and Karlani Capital also participated.
Phenom People will use the investments for continued company growth and scale, in order to support the global rise and demand for AI-driven talent experiences.
Mahe Bayireddi, CEO and Co-founder at Phenom People stated, “Global organizations are shifting their spend from legacy singular HR tools to data-driven, intelligent talent experience platforms. CHROs can make an investment in a modern approach—connecting every interaction across the talent lifecycle for candidates, recruiters, employees and management.”
The Phenom Talent Experience Management platform—a single platform that eliminates the need for multiple HR tools—connects the four key stakeholder experiences in the talent lifecycle and reduces time-to-hire and cost-per-hire, as well as improves talent quality and productivity:
• Candidate Experience: Talent leaders make the candidate journey meaningful and personalized with the integration of their career site, chatbot, CMS and university recruiting app. Instant delivery of job recommendations converts more qualified applicants and allows recruiters to spend more time with top talent.
• Recruiter Experience: Recruiters identify top talent faster with AI-powered fit and engagement scoring in their CRM. Email and SMS campaigns further engage passive candidates and build quality pipelines.
• Employee Experience: Talent management empowers employees to identify new career paths, learning opportunities, and skill gaps with personalized job openings and internal mobility. Automating the referral process allows them to tap into their professional networks and help fill roles faster.
• Management Experience: Leadership and hiring managers identify gaps in the hiring process and optimize strategies by evaluating talent analytics, reporting and forecasting. These analyses also allow talent leaders to develop succession plans that prepare the organization for future growth.
The Philadelphia headquartered firm with offices in Canada, India, Israel, London, and Rotterdam, has grown to 600 employees, over 200 customers across all industries and ranks 120 on the Deloitte Technology Fast 500.
The funding round validates the rising importance of talent experience in 2020. Talent experience has also been highlighted as one of the major HR trends by People Matters for the year 2020. It will occupy the center stage in the global HR market which is more than a $400 Bn, with over $32 Bn spent on technology solutions. In order to optimize talent experience for millions of job seekers, employers require data and automation throughout the entire journey in order to personalize and optimize every talent experience. This is the gap that firms like Phenom People aim to address.