HiringBranch Raises $3.5M for AI Soft-Skill Assessment
Deal News | Dec 12, 2024 | Aim Group
HiringBranch, a Montreal-based recruitment technology company, has successfully raised CAD5.0 million Canadian dollars ($3.5 million U.S.) in a Series A funding round. The investment round was led by Crdit Mutuel Equity, with participation from Export Development Canada and Anges Quebec. HiringBranch, which was founded in 2014 by Stephane Rivard, specializes in AI-based soft-skills assessments aimed at revolutionizing the recruitment processes. The latest funding will likely be utilized to further enhance their AI technology, expand their market reach, and improve their product offerings in the recruitment space.
Sectors
- Recruitment Technology
- Artificial Intelligence
- Financial Services
Geography
- Canada – The primary location of both HiringBranch, the Montreal-based rectech company, and significant investors like Export Development Canada and Anges Quebec.
- France – Relevant because Crdit Mutuel Equity, the leading investor in this transaction, is based in France.
Industry
- Recruitment Technology – Focuses on developing technologies and tools to enhance the recruitment process, such as HiringBranch's AI-based assessment software.
- Artificial Intelligence – Involves the use of AI to develop systems that can perform tasks typically requiring human intelligence, such as aiding recruitment decision-making as done by HiringBranch.
- Financial Services – Involves entities like Crdit Mutuel Equity and Export Development Canada, which provide funding and investment services.
Financials
- $3.5 million – The amount raised by HiringBranch in the Series A funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| HiringBranch | Target Company | Company | A recruitment technology company specializing in AI-based soft-skills assessments, founded in 2014 and based in Montreal. |
| Crdit Mutuel Equity | Lead Investor | Company | An investment firm that led the Series A funding round for HiringBranch. |
| Export Development Canada | Investor | Government | A Canadian governmental entity that participated in the funding round. |
| Anges Quebec | Investor | Company | An angel investor network that also participated in the Series A funding round. |