Phenom People closed $30 million in Series C funding, bringing the total invested in the company to $61 million. The company will use the funds to continue scaling and growth.
The round was led by WestBridge Capital with participation from AllianceBernstein and contributions from existing investors including AXA Venture Partners, Sierra Ventures, Omidyar Ventures, Sigma Prime Ventures and Karlani Capital..@Phenom_People will use a fresh $30 million in Series C funding to continue its efforts to scale products and grow its business. #HR #HRTech #Recruiting Click To Tweet
Sumir Chadha, WestBridge Capital’s founder and managing director, said Phenom People’s solution “is transforming and progressing HR in ways that point solutions and acquired technologies do not. This matches the market direction towards experience management for talent.”
Phenom People paints a promising picture of the market it’s pursuing. The company said HR represents a market worth more than a $400 billion, with $32 billion of that being spent on technology solutions. At the same time, over 45 million U.S. citizens change jobs each year through a process of searching, sourcing, interviewing and onboarding that’s both time-consuming and costly. “Employers require data and automation throughout the entire journey in order to personalize and optimize every talent experience,” the company said.
In May, Phenom People launched is Talent Experience Management platform to streamline that journey. The TXM, as it’s called, is designed to connect interactions throughout the candidate and employee lifecycles by leveraging unified technology and design to strengthen the user experience for candidates and boost productivity for recruiters and management.
In this effort, the company’s not alone. Recruiting technology providers have been zeroing in on streamlining workflows, highlighting the increases in efficiency and productivity users gain by taking advantage of their products’ improved processes. Last year, Also, JazzHR launched enhancements aimed at cutting down on the number of administrative tasks recruiters face, as did Leoforce, Infor and Montage (now Modern Hire).
Phenom People also enhanced its its Internal Mobility and Employee Referrals modules in October by adding Phenom Career Pathing and Phenom Diversity & Inclusion. The features were designed to surface future roles and upskilling opportunities, and also help employees develop their internal networks.
Phenom People will host its talent experience conference, IAMPHENOM, in Philadelphia from March 3 – 5. You can register here.
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