HR Tech Firm's Seed Funding Round Led by Greycroft and Alpha Edison Will Power Clovers' Intelligent Interviewing Platform to Accelerate Hiring and Uncover Bias
NASHVILLE. Tenn. & LOS ANGELES, Sept. 21, 2021 (GLOBE NEWSWIRE) -- Clovers (www.clovers.ai), a human resources technology firm leveraging conversational intelligence to improve interviewing and hiring practices, today announced it has raised $15 million in seed funding. The round was led by Greycroft and Alpha Edison with participation from Crosslink Capital, Acadian Ventures, Fika Ventures and Act One Ventures.
Clovers, through its flagship product, will use conversational intelligence to revolutionize interviewing for the modern world, making interviews more effective and more inclusive for organizations and candidates alike. Interviewing is the most critical step of the recruiting process, but it has typically been under-resourced. Clovers will enhance each step of the interviewing process — from the first interview to the final decision. Clovers will offer unbiased, real-time questions for interviewers during the interview, post-interview candidate insights, and postmortem interviewer coaching. Clovers will connect to existing workflows and easily integrate with an organization's applicant tracking system, calendars and current video conferencing platforms such as Zoom, Microsoft Teams and Webex.
The company was co-founded in December 2020 by HR tech pioneers Adam Miller, founder and former CEO of Cornerstone OnDemand, and Jason Nazar, co-founder and CEO of Comparably, along with Doug Leonard and Cihan Ucar. Clovers is jointly headquartered in Los Angeles and Nashville.
"The modern workplace and its hiring processes are transforming, driven by technology advancements, the impact of COVID-19 and employee desire for a hybrid remote-office model. This is causing companies to rethink recruiting, looking for inclusive, equitable and insightful interviews," said Doug Leonard, CEO of Clovers. "Clovers is building an interview intelligence platform to address the massive shift made to hiring over the last 18 months. It is our strong belief that technology should not replace human decision making, only enhance our ability to fairly and accurately assess candidates."
"The Clovers team brings a vision for the future of human capital management backed by a differentiated product and a track record of building market-defining HR technology. Conversational and artificial intelligence create a tremendous opportunity to enable fair and equitable interviewing across nearly every industry. In a rapidly changing workplace, where employers increasingly benefit from reaching into new and diverse talent pools, Clovers is building a category-defining company," said Nate Redmond, Managing Partner at Alpha Edison.
The need for HR departments and recruiters to deliver fair and consistent interviews while uncovering bias is especially timely given the heightened demand for talent and how quickly staffing and HR itself is changing. In fact, 86 percent of job interviews in 2020 were conducted digitally, a 10-fold increase over 2019. That, combined with the fact that a bad hire can cost an employer up to 30 percent of that employee's first-year earnings and experts estimating 95 percent of workers are thinking about switching jobs, underscores the need for an interview intelligence platform.
"Clovers has the right team, the right technology, and the right vision to address the enormous need for more effective and equitable interviewing," said Adam Miller, co-chair of Clovers.
The company said funding will be used toward product development, talent acquisition and marketing.
Clovers (www.clovers.ai) is the intelligent interview platform that uses human and conversational intelligence to accelerate hiring, uncover bias, and put the right people in the right role — every time. Founded and built by HR tech veterans from Cornerstone and Comparably, and led by an executive team with deep HR tech, SaaS and product experience, Clovers is focused on making interviewing better for both organizations and candidates.
The company is jointly headquartered in Los Angeles and Nashville.
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