The startup company Paradox which developed a digital recruiter has completed a $ 200 million round of funding

The startup company Paradox, which has developed a digital recruiter that communicates with job applicants, has completed a $ 200 million round of funding at a value of $ 1.5 billion. Following the recruitment, the company will expand the development center operating in the Sharona complex and recruit dozens of employees. The company's development center in Israel began operating in early 2021 after acquiring the startup Spetz and its people joined the acquiring company.
Paradox's flagship product is Olivia, a virtual personal assistant, who joins human recruitment teams and helps them automate all recruitment processes. Starting with screening and checking the suitability of a resume for relevant jobs, automatic interview scheduling, reminders for the candidate to fill out forms and provide information, making critical information accessible to candidates and recruitment teams and sending job offers automatically to candidates all in a convenient communication platform. The whole process is conducted transparently while updating the candidate on the schedules and providing answers to every question of the candidate and thus it removes one of the frustration factors of candidates who forget to return to them, and shortens by more than half the duration of recruitment and success rates.
Over the past year, Olivia has conducted 30 million job interview interviews for hundreds of companies in some 50 countries and has independently scheduled 3.1 million job interviews. Communication with the candidates is also done on nights, weekends and holidays, times when many of them submit their candidacies, and they get answers to their questions and video content relevant to the company and the job. Communication is done in a way that is convenient for each of the parties. Olivia is managed directly from the Chrome browser via a special plugin, while the candidates receive the messages in the way they choose, the most popular in Israel is the WhatsApp app. The system learns each of the conversations through artificial intelligence and draws insights from them to improve the algorithm and the work of the organization, in order to make the process fast, efficient and experiential for all parties. Among the company's customers are McDonald's, General Motors, Unilever, Nestle, PepsiCo, CVS health, the American restaurant chain Wendys, Citizen Bank, US Express, and more.
According to Yam Dvir, CEO of Paradox Israel: "We see a future where people invest more time in people, and not in front of computers. HR staff and recruitment teams spend an average of 25 hours a week on repetitive technical tasks. The system we have developed allows human resources teams to free up valuable time from the tedious tasks and invest it in people, rather than in front of computers. This is the most important and significant part of their work. Experience shows that when the recruitment process is more experiential, more suitable employees are accepted into the organization, with higher motivation who also stay longer. The investment funds will allow us to expand the development system, continue to serve the customers well and strengthen the collaborations. In October, we launched as a pilot in Israel a product in blue and white development that allows recruiters to help Olivia automatically schedule interviews with candidates. Today we already see hundreds of users who just put their system on autopilot. In Israel, the plugin is free, and it's amazing to see how companies that decide to bring innovation to the recruitment process are able to see the impact in a very short period of time. "