AI Hiring Startup Receives $1.7 Million from Investors

AI Hiring Startup Receives $1.7 Million from Investors

The hiring startup VCV.AI has landed $1.7 million in funding to continue to develop its face and voice recognition technology. The company’s AI solution is designed to automate the hiring process, drastically reducing the amount of time it takes to screen potential candidates.

“Technology has transformed so many industries and workflows, yet far too often, hiring remains behind the curve,” said VCV.AI founder and CEO Arik Akverdian. “In my decade working in human resources, I’ve seen firsthand how outdated and inefficient the process often is. AI can improve and streamline the hiring process, while also helping to remove corrosive biases that all humans have.”

The goal is to make hiring cheaper and more efficient, and to eliminate the biases that lead companies to overlook qualified individuals. However, it’s worth noting that an untrained AI can easily recreate those biases. Amazon came under fire when its Rekognition platform matched members of Congress to mugshots. On the other hand, major players like Microsoft and IBM have taken proactive steps to address racial bias in their facial recognition platforms.

As it stands, VCV.AI will need to be particularly vigilant given the high stakes of human resources. The company’s $1.7 million comes from multiple investors, including an angel investor from Indeed. VCV already counts major corporations like Unilever, PwC, and Citibank amongst its clients.

May 2, 2019 – by Eric Weiss