Charleston-based AI recruiting startup ENGAGE Talent has been acquired by global workforce management company Workforce Logiq for an undisclosed amount. The startup team will remain in South Carolina and join the company.
“The acquisition is a game-changing investment for Workforce Logiq and our clients, and furthers our vision of transforming how organizations win the talent they need to grow,” Workforce Logiq CEO Jim Burke tells Hypepotamus.
Workforce Logiq helps global organizations take control of their worldwide workforce and talent supply chains, including vendor management, recruitment process, and more. The company currently manages over 8,000 active global supplier relationships and recently announced an exclusive partnership with Upwork to acquire and retain gig workers.
“We can leverage ENGAGE Talent’s proprietary AI technology for real-time data on talent retention, employee engagement, labor conditions, and competitive workforce dynamics,” says Burke.
Founded in 2015, ENGAGE Talent aims to solve an increasing problem in enterprises — job turnover and candidate behavior. The AI-powered platform helps predict the likelihood that job candidates will change roles.
Billions of data points process factors like the candidate’s professional background, the current job market, and company milestones to arrive at a single Talent Retention Risk Score.
After receiving this score from ENGAGE Talent, recruiters can then actively engage those passive candidates and build their talent pipelines.
The technology is based on several decades of research by the founders.
“ENGAGE’s data science expertise and proprietary benchmarks provide our customers with an analytical advantage to make better and faster decisions, and a predictive head start to attract and keep the market’s best talent,” says Burke.
CEO Joseph Hanna told Hypepotamus this past May that the AI recruiting platform has seen anywhere from a 200 to 700 percent increase in candidate engagement. “Our AI can identify, down to the individual level, who might have a higher turnover risk,” he said.
ENGAGE Talent has raised a total of $9.8 million in investment, according to Crunchbase.
Venture platform Engage and Revolution’s Rise of the Rest fund both invested in the startup. The startup has Dell, Allstate, and Saint Gobain as customers.
Burke tells Hypepotamus that the Orlando company’s investment priorities focused on advanced data and predictive analytics for better retention decision making.
The platforms will work parallel to one another for the time being, with the team working on a full suite integration launch by January 2020 after analyzing demo feedback.
“Problem solving with data science is in our DNA,” said Hanna in a statement. “That makes us a great fit for Workforce Logiq. Their team thinks differently about how to prepare clients for today’s challenges.”
Hanna will join the executive leadership team as Chief Strategy Officer.
“Employers want an edge in hiring and retaining the best talent. In today’s hyper-competitive market, that requires taking a more proactive and intelligence-based approach to workforce management,” says Burke.