VCV AI Recruiter Startup Funded $1.7 Million From Investors

San Francisco-based startup that leverages AI for recruiting, VCV, has announced an active $1.7 million in financing from Western VC Will Group, Talent Equity Ventures, 500 Startups and angel investors such as Indeed’s Masahiro Takeshima. This new funding will assist VCV in further developing its technology art, also, to paste its position in the global recruitment market, as observed with the arrival of its new Tokyo office.

The purpose is to perform hiring more economical and more efficient and to remove the biases which lead companies to overlook qualified people. By the way, it’s worth noting that an untrained AI can easily recreate those biases. Amazon came under fire when its “Rekognition” platform matched members of Congress to mugshots. On the flip side, Important performers such as Microsoft and IBM have taken proactive actions to deal with racial bias in their facial recognition platforms.

According to a current CareerBuilder survey, talent deficit was among the most significant barriers faced by recruiters last year; nearly three-quarters of respondents stated they struggle to locate relevant candidates. Even after individuals employ, companies on average spend about $4,000 per candidate interviewing, scheduling, and analyzing them, according to a recent survey by Deloitte. VCV helps companies save more than 20 hours of use recruiting robots working 24/7 to find, chat, and interview prospective candidates.

“Technology has transformed so many industries and workflows, yet far too often, hiring remains behind the curve,” explained VCV.AI founder and CEO Arik Akverdian. “In my decade working in human resources, I’ve seen firsthand how outdated, and inefficient the process often is. AI can improve and streamline the hiring process, while also helping to remove corrosive biases that all humans have.”

As it stands, VCV.AI will need to be exceptionally careful given the high stakes of human resources. The company’s $1.7 million comes from multiple investors, including an angel investor from Indeed. VCV already counts major corporations like Unilever, PwC, and Citibank amongst its clients.