Scoutible, a gaming platform for discovering talent, has raised $5 million in seed funding. Learn Capital and Mark Cuban led the round with participation from other investors that included Great Oaks, New Enterprise Associates, Stanford StartX Fund and Mindset Ventures.
San Francisco, CA (October 25, 2017) — Scoutible, the first video game-based artificial intelligence for hiring, today announced their Learn Capital and Mark Cuban led funding of $5 Million in seed capital. Great Oaks, New Enterprise Associates, Stanford StartX Fund, Mindset Ventures, and the Founder of Venmo also participated.
Hiring in the U.S. is broken. Despite billions of recruiting dollars spent each year, finding the right candidate is still a 50/50 coin toss. Nearly half of hires in the U.S. fail within 18 months, and the costs of replacing an employee is up to 200% of their annual salary. Moreover, 89% of failed hires are due to cultural and soft skill mismatch, not hard skills like degrees or work experience. The impact of misplaced employees costs companies up to $550 Billion every year.
Scoutible transforms the hiring process by finally giving companies the right information to select candidates. Scoutible’s machine-learning game AI collects millions of data points that uncover a person’s soft skills and talents, such as grit, interpersonal skills, and cognitive aptitude. The attributes that Scoutible measures predict job success 2x better than interviews, 3x better than work experience, and 4x better than education level.
After just 20 minutes of gameplay, Scoutible can identify the exact combination of traits that distinguish current top employees at a company. From there, the AI can instantly predict an applicant’s future performance and culture fit at the company—before they’ve even been interviewed. And if the job isn’t a fit, Scoutible can surface other roles where the candidate is virtually certain to be a top performer. Scoutible’s AI also eliminates biasing information—such as gender and ethnicity—from evaluation, which has been shown to increase diversity of hires and overall performance.
“Anyone in business knows the pains of hiring. We’ve all experienced a hire that seemed fantastic in interviews, but didn’t work out.” stated Mark Cuban, a lead investor in Scoutible. “Scoutible’s platform is incredible in its use of gaming and AI to wildly increase the odds of a successful hire. Their technology could change hiring as we know it.”
Scoutible has already proven that their unique approach works. With a team of 55 salespeople, Scoutible’s AI predicted their long-term sales performance 3.7x better than interviews; and with a team of 101 salespeople, their AI outperformed a traditional interview by 4.5x.
“Our customers are experiencing transformational results,” stated Scoutible’s CEO and Founder, Angela Antony. “This funding will go towards scaling up our capacity to serve even more companies and enable them to build and grow teams unparalleled in performance, culture fit, and retention.”
Scoutible is a game-based AI for hiring, using immersive mobile games and sophisticated machine learning to pinpoint perfect-fit candidates for jobs. Scoutible’s technology measures a person’s unique cognitive and personality traits through gameplay, then spots opportunities where players’ attributes match those of a company’s proven top performers.