In a world where the focus is finally shifting in the right direction towards diversity and quality of hires, the old ways of sourcing and screening talent will no longer stand.
SAN FRANCISCO (PRWEB) March 30, 2021
Crosschq, the pioneer of a new software category for the recruiting industry called Human Intelligence Hiring™, today closed $13 million in Series A funding led by Tiger Global Management, with participation from returning investors, GGV Capital, Bessemer Venture Partners, Slack Fund, SAP, Intersect Capital and Rocketship.VC.
In addition, the company added to its investment team a list of purpose-driven investors who believe in the movement towards fair chance hiring. Joining Golden State Warriors NBA All-Star and 3X World Champion Klay Thompson, NBA All-Stars Khris Middleton, Aaron Gordon, and Isaiah Thomas, PGA Pro Cameron Champ, MLB All-Star St. Louis Cardinals Nolan Arenado, and Seattle Seahawks NFL All-Pro DK Metcalf all joined as new investors in the company.
“That fact that we have attracted such an incredible investor group is a key indicator that we are onto something big in our mission to disrupt the $74 billion hiring industry,” said Mike Fitzsimmons, CEO and Co-Founder of Crosschq. “In a world where the focus is finally shifting in the right direction towards diversity and quality of hires, the old ways of sourcing and screening talent will no longer stand. Companies are starving for better data and tools to help them make more informed, unbiased decisions and that’s what we deliver.”
Crosschq will use this funding to enhance its data analytics that enables companies to track and measure quality of hire. It will also use the financing to grow its ML/AI, Go-To-Market and Development teams, expand partnerships and continue its focus on driving diversity in hiring practices across companies of all sizes and industries.
“Everyone deserves the chance to realize their dream,” said Klay Thompson, Golden State Warriors. “Being a hard worker, persevering, and being a great team player is what it should come down to. I’m proud to be part of Crosschq’s mission to help level the playing field for all people searching for their next best job.”
Crosschq’s core engine contains three modules to help companies better source, screen, and onboard talent while providing a fully connected analytics suite that enables on-demand access to true quality of hire data. With more than 125 active companies and partnerships with HR platforms including SAP, Workday, and Greenhouse, Crosschq not only drives efficiency in hiring processes but fundamentally increases the quality of hire for its customers. Recent case studies have indicated that Crosschq drives a 40% increase in retention for a new hire’s first year of employment, increases hiring from underrepresented groups by 32%, and reduces time spent conducting reference checks by as much as 95%.
“Crosschq first caught our attention because they’ve created a technology solution that provides untapped sources of candidate intelligence and data,” said John Curtius, Partner at Tiger Global. "But when we saw the analytics that showed significant increases in quality of hire and diversity hiring for its customers, we got really excited. We look forward to driving their next phase of growth.”
For more information on Crosschq or to request to demo, visit http://www.crosschq.com.
About Tiger Global Management
Tiger Global Management, LLC is a leading global technology investment firm with over $60 billion under management. The firm focuses on private and public companies in the internet, software, consumer, and financial technology sectors. Since 2001, Tiger Global has invested in hundreds of companies across more than 30 countries, including investments ranging from Series A to pre-IPO. The firm aims to partner with dynamic entrepreneurs operating market-leading companies in our core focus areas. Tiger Global’s investments have included JD.com, UiPath, Stripe, Databricks, Bytedance, Snowflake, Facebook, Alibaba, Procore, Chime, Blend, Peloton, Attentive, Linkedin, Flipkart, and Toast.
About Crosschq
Crosschq™ has pioneered Human Intelligence Hiring™, the next essential software category for building great companies and optimizing quality of hire. Through proprietary software and science, Crosschq gathers people-driven insights from job seekers and those who know them best and converts those insights into predictive data. Crosschq data can be used to ensure people and businesses are well-matched, creating long-term, successful employees and winning workplace cultures. The company’s cloud-based SaaS solutions were built with a talent-first approach that prioritizes trust and transparency, minimizes bias, and protects privacy. Founded in 2018, Crosschq is backed by Tiger Global Management, GGV Capital, Bessemer Ventures Partners, SAP, Slack Fund, Intersect Capital, Rocketship.VC and other well-known Silicon Valley investors. To learn more, visit crosschq.com.