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London-based artificial intelligence (AI) firm Metaview has secured a significant $7 million (£5.5 million) investment aimed at revolutionizing and expediting the hiring process through technological innovation.
Plural, an early-stage investment fund, spearheaded the funding round for Metaview, renowned for its AI-driven approach to streamlining hiring operations. The company claims to utilize AI to consolidate hiring team efforts, thereby saving a substantial 20 hours per hire.
Metaview leverages sophisticated large language models, capable of comprehending human text and speech intricacies, to decode hiring discussions effectively. This wealth of data empowers hiring teams to identify and select the most suitable candidates for roles.
Siadhal Magos, CEO of Metaview, emphasized the significance of human-to-human interactions in the hiring process and the company’s pivotal role in extracting and leveraging data from such interactions. Magos highlighted the transformative impact of Metaview’s AI-native platform in aiding companies to optimize their hiring workflows and decisions, ultimately enhancing recruitment outcomes.
The infusion of new capital is earmarked for accelerating product development initiatives and expanding the engineering team threefold. Notably, within a year, Metaview has witnessed an exponential 2000 per cent surge in its customer base, with prominent clients including Brex, Quora, Pleo, and Improbable. The burgeoning market for AI-driven HR tools is projected to reach $6.18 billion by 2024.
Founded in 2018 by former product and engineering managers from Palantir and Uber, Siadhal Magos, and Shahriar Tajbakhsh, Metaview is poised to disrupt traditional recruitment paradigms with its innovative approach.
Khaled Helioui, Partner at Plural, underscored the critical role of hiring decisions in business success and lauded Metaview’s endeavour to enhance recruitment practices through technological advancement. He highlighted the company’s commitment to fostering more objective and equitable workplaces by mitigating biases inherent in conventional hiring processes.
However, the proliferation of AI in recruitment is not without scrutiny, with concerns arising over potential biases embedded within AI systems. Instances like Amazon’s 2018 abandonment of an AI recruitment tool due to favouritism towards male candidates underscore the need for rigorous evaluation and oversight in AI-driven recruitment solutions.
Plural’s funding initiative garnered support from Coelius Capital, existing investors Vertex Ventures US, Seedcamp, Village Global, and several angel investors, solidifying Metaview’s position as a trailblazer in AI-driven recruitment innovation.
