Metaview raises $7M to build AI assistant for hiring
Metaview, an AI assistant designed to eliminate administrative workload and inefficiency from recruitment processes, has secured £7 million in a funding round spearheaded by Plural.
Coelius Capital, along with previous investors Vertex Ventures US, Seedcamp, Village Global, and distinguished angels such as Kyle Parrish, Figma's VP of Sales, and Barney Hussey-Yeo, co-founder of Cleo, also contributed to the funding.
Founded in 2018 by Siadhal Magos and Shahriar Tajbakhsh, both of whom previously held product and engineering management positions at Palantir and Uber respectively, Metaview aims to revolutionise hiring practices. The platform enhances companies' ability to make essential hiring decisions quickly and accurately by focusing on refining the most challenging aspect of the hiring process: interviews.
Historically, hiring decisions have been crucial yet burdened by outdated methods. The tasks of taking interview notes and compiling feedback consume significant time and detract from the quality of interactions, while the lack of objectivity and the high cost of unsuitable hires, which can amount to triple the salary of the vacant position, persist. Through the application of AI, Metaview seeks to overhaul these processes, enhancing efficiency on a large scale.
The platform utilises AI to document discussions throughout the recruitment cycle, thereby establishing a comprehensive reference point for recruitment teams. By recording, analysing, and then producing objective summaries categorised by crucial topics, Metaview significantly reduces the administrative load associated with conducting interviews. This innovation is already enabling teams to save upwards of 20 hours per recruitment, thereby allowing recruiters and hiring managers to concentrate on meaningful engagements with candidates and to base their decisions on data rather than solely on recollection.
Siadhal Magos, CEO at Metaview said: “Hiring is driven by human-to-human conversations, yet before now it's been impossible to capture and operationalise the data from these crucial interactions. With Metaview, thousands of companies are turning to our AI-native platform to harness this data, save time on busy work, and apply the insights we create to help their teams hire the right candidates. We’re delighted to be partnering with Plural to drive our next phase of growth and help more companies radically enhance their hiring workflows and decisions.”
Metaview's strategy has become feasible owing to significant advancements in the performance of Large Language Models (LLMs). The company has honed these models to extract insights directly from hiring conversations. This information is then seamlessly incorporated into existing hiring processes, enhancing the efficiency and decision-making capabilities of recruitment teams. This commitment to quality and operational effectiveness has enabled Metaview to provide support to prominent companies such as Brex, Quora, Pleo, and Improbable in their international recruitment efforts. Over the previous year, Metaview witnessed a 2,000% increase in its customer base amidst an AI HR tools market that is projected to expand to $6.18 billion by 2024.
The recent investment will be channelled towards expediting product development and expanding the team. This includes plans to triple the size of the engineering team within the next 18 months, aiming to develop more impactful features to cater to Metaview's enlarging roster of clients.
Shahriar Tajbakhsh, CTO at Metaview said: “I'm ecstatic to team up with Plural as we continue to reimagine the recruiting ontology from first principles. By placing conversations at the nucleus of our platform, we're leveraging state-of-the-art AI to operationalise the latent context within these interactions. This enables us to build AI agents that augment and automate hiring workflows in ways previously unimaginable.”
Khaled Helioui, Partner at Plural said: “Hiring decisions are critical to the success of any business, but for decades this crucial step has been ignored by technology. Siadhal and Shahriar, having honed their skills at Uber and Palantir, notorious for setting new standards of excellence in terms of recruiting, are uniquely positioned to change this dynamic. Metaview is making recruitment decisions better, faster, and more objective. In doing so, it’s creating improved outcomes and contributing to more equitable workplaces by removing some of the pervasive biases that clog most hiring processes.”