Philadelphia-Based Phenom Raised $100M Funding led by B Capital Group

Phenom earned $100 million in a Series D financing to expand internationally and keep improving its AI-driven talent-hiring platform as per roofbloomberg.

B Capital Group served as the round’s lead investor, with participation from Dragoneer Investment Group, OMERS Growth Equity, and GoldenArc Capital. WestBridge Capital led the $30 million Series C financing round for Phenom in January 2020. Since its founding in 2010, it has already raised $161 million in venture funding.

The Covid-19 epidemic is expected to have a significant influence on the worldwide labor market, with more than 100 million workers potentially needing to change occupations by 2030, according to the Ambler human resources technology company. In a video, CEO Mahe Bayireddi expressed his optimism for the “golden age” of human resources and talent.

Phenom is an expert at bringing together employers and job seekers. Its Talent Experience Management technology streamlines the recruiting process from recruiters to applicants by utilizing AI, analytics, and machine learning. According to the firm, Phenom’s system has more than 1 billion applicant profiles from 180 different nations.

About 50 Fortune 500 firms, including AXA, Land O’Lakes, and Southwest Airlines, are among Phenom’s clientele. According to the business, 2 million employees were employed last year as a result of 25,000 recruiters, talent marketers, and hiring managers using its AI platform.

The highest-ranking local firm, the company is positioned at No. 168 on the list of Deloitte’s 2020 Technology Fast 500. In three years, Phenom recorded a revenue increase of 693 percent.        

In the last year, Phenom completed its first two acquisitions: the Palo Alto-based AI hiring firm My Ally and European employment website provider Endouble. Each purchase, whose financial details were not made public, helped Phenom hire approximately 800 workers in North America, Europe, and India.

On the company’s website, there are 150 available opportunities, with around 20 of them located in Greater Philadelphia.