HireVue Company Profile

Background

Overview

Founded in 2004 by Mark Newman, HireVue is a private American company specializing in artificial intelligence (AI) and human resources technology. Headquartered in South Jordan, Utah, HireVue offers a comprehensive Hiring Intelligence Platform that integrates video interviewing with AI-driven pre-hire assessments. This platform is designed to streamline the hiring process, enabling organizations to identify and secure top talent efficiently.

Mission and Vision

HireVue is committed to transforming the hiring experience by leveraging technology to make the process faster, fairer, and more flexible. The company's mission is to put the human back into human resources by providing unparalleled insights into candidates' skills and potential.

Industry Significance

As a pioneer in AI-driven hiring solutions, HireVue has significantly impacted the human resources industry. By combining video interviews with predictive analytics and validated industrial-organizational science, the company has set new standards for talent acquisition, helping organizations make data-driven hiring decisions.

Key Strategic Focus

Core Objectives

HireVue aims to revolutionize the hiring process by integrating AI and video technology to enhance decision-making, reduce time-to-hire, and improve candidate experiences. The company focuses on providing scalable solutions that cater to organizations of various sizes and industries.

Areas of Specialization

The company's primary areas of specialization include:

• Video Interviewing: Offering both live and on-demand video interviews to facilitate flexible candidate evaluations.

• AI-Driven Assessments: Utilizing AI to analyze candidate responses, providing insights into competencies and potential.

• Automated Scheduling: Streamlining interview scheduling to reduce administrative burdens.

• Text Recruiting: Engaging candidates through SMS and WhatsApp to enhance communication and scheduling.

Key Technologies Utilized

HireVue's platform leverages:

• Artificial Intelligence and Machine Learning: To analyze video interviews and assess candidate suitability.

• Natural Language Processing: To evaluate verbal responses and extract meaningful insights.

• Facial Recognition Software: To interpret non-verbal cues, though this feature was discontinued in early 2020 due to concerns about bias.

Primary Markets Targeted

HireVue serves a diverse range of industries, including retail, finance, healthcare, and technology. Its solutions are designed to meet the needs of both large enterprises and mid-sized organizations seeking to optimize their hiring processes.

Financials and Funding

Funding History

HireVue has secured a total funding amount of $93 million over several rounds:

• Series C (August 2012): Raised $17 million led by Investor Growth Capital.

• Series D (October 2013): Raised $25 million led by Sequoia Capital.

• Acquisition (September 2019): Acquired by The Carlyle Group, a global investment firm.

Notable Investors

Key investors include Sequoia Capital and The Carlyle Group, both of which have played significant roles in supporting HireVue's growth and expansion.

Utilization of Capital

The funds raised have been utilized to:

• Enhance product offerings and technological capabilities.

• Expand market reach and customer base.

• Invest in research and development to maintain a competitive edge in AI-driven hiring solutions.

Technological Platform and Innovation

Proprietary Technologies

HireVue's platform integrates several proprietary technologies:

• AI-Driven Video Interviewing: Combines video interviews with AI analysis to assess candidate competencies.

• Predictive Analytics: Utilizes machine learning algorithms to predict candidate success and fit.

• Automated Scheduling: Streamlines the coordination of interviews, reducing time-to-hire.

Significant Scientific Methods

The company employs:

• Industrial-Organizational Psychology: To develop assessments that are scientifically validated and predictive of job performance.

• Natural Language Processing: To analyze verbal responses for insights into candidate suitability.

AI-Driven Capabilities

HireVue's AI capabilities include:

• Automated Candidate Evaluation: Assessing video interviews to provide objective candidate scores.

• Bias Mitigation: Implementing measures to reduce unconscious bias in the hiring process.

• Continuous Learning: Utilizing machine learning to improve assessment accuracy over time.

Leadership Team

Jeremy Friedman – Chief Executive Officer

Jeremy Friedman brings nearly 15 years of SaaS leadership experience to HireVue. Prior to joining, he served as Senior Vice President at PowerSchool and co-founded Schoology, a leading learning and assessment management system. He holds a BA in Economics and Computer Science from Washington University in St. Louis.

Walker Ellis – Chief Revenue Officer

Walker Ellis oversees HireVue's revenue teams, including sales, marketing, renewals, and revenue operations. He has nearly two decades of experience in sales and marketing, previously holding leadership positions at PowerSchool and Microsoft. He earned his BA in Government and Legal Studies from Bowdoin College.

Smitha Venugopal – Chief Financial Officer

As CFO, Smitha Venugopal is responsible for overseeing HireVue's financial operations and strategy, driving revenue growth, and managing investor relations.

Dr. Nathan Mondragon – Chief Innovation Officer

Dr. Mondragon leads product innovation at HireVue, with over 30 years of experience in industrial-organizational psychology. He co-created the first online selection assessment integrated with an ATS in 1996 and introduced HireVue’s AI-driven pre-hire assessment in 2015. He holds a Ph.D. in Industrial and Organizational Psychology from Colorado State University.

Sibyl McCarley – Chief People Officer

Sibyl McCarley oversees all people functions at HireVue, including organizational design, talent acquisition, employee experience, and diversity, equity, inclusion, and belonging (DEIB) efforts.

Leadership Changes

In January 2024, Jeremy Friedman succeeded Anthony Reynolds as CEO. Friedman's appointment marks a strategic move to leverage his extensive experience in SaaS leadership to drive HireVue's growth and innovation.

Competitor Profile

Market Insights and Dynamics

The AI-driven hiring solutions market is experiencing significant growth, driven by the need for efficient, unbiased, and scalable recruitment processes. Organizations are increasingly adopting technologies that enhance candidate evaluation and streamline hiring workflows.

Competitor Analysis

Key competitors in the AI-driven hiring solutions market include:

• VidCruiter: Offers digital, mobile, and video recruiting software with a focus on applicant tracking and video interviewing.

• Spark Hire: Provides video interviewing solutions, including live and pre-recorded interviews, with an emphasis on simplicity and user experience.

• HackerRank: Specializes in technical assessments and coding challenges to evaluate developer skills.

• Codility: Focuses on hiring programmers through real-life testing scenarios and coding assessments.

• Jobvite: Offers a comprehensive recruiting platform that includes applicant tracking, social recruiting, and analytics.

Strategic Collaborations and Partnerships

HireVue has engaged in strategic collaborations to enhance its offerings:

• Microsoft Teams Integration (September 2020): Integrated with Microsoft Teams to offer interviews on the Teams platform, expanding accessibility for users.

• Acquisition of AllyO (October 2020): Acquired AllyO, a chatbot technology startup, to enhance