Vettd today announced the closing of its Series A funding round. The funding coincides with the release of the world’s first commercially deployed, AI-powered deep neural network platform designed specifically for the Human Resources industry.
Vettd’s services are developed to make hiring managers’ jobs easier and capitalize on their expert knowledge to identify and select the right candidates for open positions, internal promotions or talent reorganization. Vettd’s proprietary deep neural network services allows hiring managers to upload their expertise into their own AI service, and then extend that knowledge to support anyone responsible for active talent evaluations (recruiters, interviewers, or other hiring managers). This highly-scalable experience, focusing on natural language documents, allows for the instantaneous sharing of expert knowledge to bridge evaluation skill gaps or streamline the entire talent acquisition lifecycle. Vettd accomplishes this by using its’ library of Intelligent Data Science™ agents that reside within the company’s Live Data Observatory (LDO) that is built upon a real-time microservices cloud architecture.
“Our Live Data Observatory platform transforms dormant warehouse data of untapped natural language information into valuable data assets that enable new AI service opportunities. This offers enterprises a new way for their hiring managers, recruiters, and applicants to interact at scale, without the need to be physically present with one another,” said Mike Buhrmann, Vettd’s CEO. “With the funding, we’ll expand our efforts in commercially applied deep neural network services while also venturing into more industry verticals to continue to grow our customer base.”
Vettd’s funding round of 3 million dollars combines a $1.5 million-dollar employee goodwill “veteran’s commitment” with a $1.65 million matching fund from 15 investors. The goodwill commitment represents contributed time, intellectual capital and other resources from a team of executives who previously founded and successfully sold numerous Seattle startups for almost 1 billion dollars across six companies.
“The four veteran members of our executive team bring a combined 150 years of successful technology development, growth and value creation experience to pair with the youthful core AI data scientists, product development, and engineering team,” said Mike Buhrmann. “Our younger founders successfully participated in the exit of Balance Financial before starting Vettd in 2014. Their experience and insight combined with the veteran’s years of business expertise, brings a unique perspective to successfully creating a business that can grow, scale and succeed in today’s AI cloud environment.”