OVIA, a multimedia recruitment technology player, has secured its first funding round led by global venture capital firm, DCM. The new funding will be used to further enhance OVIA’s technology platform, expand sales and marketing, and add key employees to its San Francisco headquarters.
OVIA, an emerging leader in multimedia recruitment technology, today announced their first funding round led by global venture capital firm, DCM. The new funding will be used to further enhance OVIA’s technology platform, expand sales and marketing, and add key employees to its San Francisco headquarters.
“The new wave of recruiting technology centers around video technology that is becoming more ubiquitous via webcams, mobile device cameras and video services like uStream and Youtube”
Launched in January 2011, OVIA’s multimedia recruitment screening technology is already helping several high-growth companies including Groupon, Intel, and Salesforce, find passionate, qualified candidates. According to a recent talent acquisition survey from Aberdeen Group, the number of companies using video as part of the hiring process has sharply increased in the last year. OVIA’s platform taps into this trend by helping employers get to know candidates before they are called for an in-person interview, enabling them to invest the right resources in the right candidates. Tens of thousands of interviews have been sent through OVIA’s global video screening solution, and that number is growing rapidly as is the number of organizations using OVIA around the world.
With DCM on board as an investor, OVIA joins its roster of successful companies driving critical improvements in online recruitment including HireRight, the leaders in background checks, and 51Job, the leading job board in China.
“The new wave of recruiting technology centers around video technology that is becoming more ubiquitous via webcams, mobile device cameras and video services like uStream and Youtube,” said David Chao, co-founder and general partner, DCM. “Companies today are wasting time and resources on unqualified candidates. OVIA’s video technology helps employers quickly uncover key traits of a candidate, share with others, and focus in on the right candidates. OVIA turbo charges the conventional process and the ROI proposition is hard to beat.”
OVIA’s video screening experience is unique in that it replicates an actual interview for both employers and job candidates. In contrast to other services where companies only provide typed questions, OVIA provides an easy way for companies to record their questions in advance of the interview, humanizing the video interview process for candidates. Additionally, OVIA becomes an extension of the organization’s brand, providing job candidates with important insight into the organization’s brand, values and culture, during the entire OVIA process.
“Our goal is to disrupt and improve the recruitment process by leveraging technology to bring back the true essence of recruitment: people getting to know people,” said Rodrigo Martinez, CEO and co-founder of OVIA. “We are excited to have DCM join us as a partner in reaching our vision of helping employers find the best, most passionate candidates – the candidates that are truly going to make a difference for them. And we also want to help job seekers find the jobs that they love. DCM’s experience in the recruitment space will be invaluable to us as we grow towards that vision.”
DCM’s David Chao, who serves on the 51Job Board and whose past experience includes work at Recruit, the largest HR company in Japan will also serve on OVIA’s Board of Directors. Joining this Series A round will be Dave McClure of 500 Startups, who also helped incubate the company.
OVIA is a leading video recruitment platform that makes candidate screening more reliable, efficient and effective through online video. Recruitment is all about finding the right people, not just the right resumes, and OVIA allows companies to use the power of competency-based video selection to evaluate candidates faster and more effectively.
DCM is an early stage venture capital firm that has been helping entrepreneurs build world-class technology companies since 1996. The firm’s partners manage seven funds totaling over US$2 billion, and have made investments in more than 140 technology companies across the United States and Asia. With offices in Silicon Valley, Beijing and Tokyo, DCM provides hands-on operational guidance and a vast network of business and financial resources to its portfolio companies globally. DCM has backed industry leading companies such as 51job (NASDAQ:JOBS), About.com (acquired by The New York Times Co.), Clearwire (NASDAQ:CLWR), eDreams (acquired by TA), Foundry Networks (NASDAQ: FDRY), Kabu.com (TSE Main: 8703), Sling Media (acquired by EchoStar), SMIC (NYSE: SMI), and VanceInfo (NYSE: VIT) as well as upcoming startups such as Bridgelux, Happy Elements, Mbaobao, PapayaMobile, Sandforce, Trion Worlds, Ustream, and Vipshop. Recent exits include four new China-based IPOs: Renren (NYSE:RENN), BitAuto Holdings (NYSE: BITA), Dangdang Inc. (NYSE: DANG), and Shanghai Luxin (SZSE: 002565) and three US-based exits: Force10 (Acquired by Dell), Fortinet (NASDAQ: FTNT) and PGP (acquired by Symantec).