WorkTech company utilizes AI-powered job simulation platform to find and pair qualified, and often disadvantaged, candidates with the right job
TaTiO, a future of work company that uses AI to help companies fill open positions with qualified workers, today announced the completion of a $5.3 million seed round led by Mensch Capital Partners and Cresson Management, with participation from Cerca Discovery, Tau Ventures Ltd., Techstars, and GoodCompany. TaTiO sources and vets job seekers with their AI work experience simulations and provides employers with pre-qualified candidates to interview. Private investors included Michael Eisenberg, General Partner at Aleph VC, Jeff Swartz, former CEO of Timberland, and Nir Zohar, President of Wix.com.
Since the onset of Covid-19, companies are struggling to find, and hire, great talent as they compete both within and across industries. At the same time, studies have shown a massive pool of untapped talent. A Harvard Business School report indicates that there are over 27 million hidden workers in the US. Underprivileged, hidden workers often lack the credentials or education sought by recruiters, rendering them invisible in the job market. Although they may have the capabilities and skill sets to excel in a certain job, their bare resumes eliminate their chances of being hired.
TaTiO offers a unique method of job recruitment that eliminates the fixation on resumes, instead focusing on skills. TaTiO sources potential candidates and provides realistic job simulation tasks that predict their aptitude for a variety of careers. AI analysis learns and tracks each candidate’s behavior, service orientation, and tone of voice producing a report with a job-specific prediction score and providing employers with a performance assessment before the first interview is set. TaTiO continuously learns about the employer’s preferences, improving their applicant-to-hire ratio.
TaTio was founded by Maya Huber, PhD, and Mor Panfil, who between them combine four decades of expertise in human resources and career development. Much of their careers have been spent working together to integrate the disadvantaged into the workforce. After witnessing up close the shortfalls in the job market, they launched TaTiO, together with R&D expert Nir Familier, to solve the systemic issues in the job hiring process.
“On average, an employer will receive 250 applications for each job position, while the average time spent looking at a resume is a mere 5-7 seconds,” said Maya Hubert, CEO of TaTiO. “There is an ever growing need for companies to find vetted, qualified employees. While the current method of job hiring is outdated, ineffective, and often biased. With TaTiO, we’ve created a new way to hire – instead of vetting people out, we vet them in. We’re changing the reality of the workforce by minimizing the time and cost of hiring, improving employee retention rates, and reducing hiring bias.”
TaTiO has been shown to reduce time-to-hire by 50% and cost-of-hire by 30%. They have already sourced and qualified tens of thousands of candidates for positions in logistics, customer support, technical support, sales, finance and insurance.
“In this multi-billion dollar market, TaTiO is providing a much-needed platform and unique outlook at a precise time,” said Boaz Shedletsky, Managing Partner of Mensch Capital Partners. “The current talent shortage is a major issue facing companies around the world, from large, public institutions such as Amazon, to smaller, privately owned companies. TaTiO is well positioned to bring change to the hiring process, and the job market as a whole.”
TaTiO enables companies to improve their candidate-to-hire ratio for high-volume positions by accessing workers from previously untapped sources and assessing their actual job skills. Using an innovative job assessment simulator and AI performance analysis, TaTiO’s technology defines the characteristics of the ideal candidate for each recruiter’s needs while helping to ensure more efficient hiring in the future. With a pool of tens of thousands of candidates, TaTiO pairs qualified job seekers from diverse backgrounds with employment, without having to look at an application form, resume or cover letter.