Led by Brighton Park Capital, the funding will gasoline aggressive product innovation, market enlargement, and strategic acquisition; know-how govt Mike Gregoire to function Chairman
SCOTTSDALE, Ariz.–(BUSINESS WIRE)–May 11, 2020–
Paradox, the conversational AI platform serving to HR and expertise groups automate administrative duties and ship real-time candidate and worker communications, introduced right this moment $40M in Series B funding, led by Brighton Park Capital. The Arizona-based startup, whose 200+ world enterprise shoppers embody McDonald’s, CVS Health, and Unilever, will leverage the funding to expedite its imaginative and prescient of a future the place AI is a liberating drive to assist folks do their greatest work.
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Paradox headquarters in Scottsdale, Arizona. (Photo: Business Wire)
“No one goes into recruiting or HR because they like screening resumes, scheduling interviews, or managing paperwork,” mentioned Paradox founder and CEO Aaron Matos, who began his profession as an HR practitioner. “Our clients love our AI assistant Olivia because she helps them get back to doing the strategic people work that got them into recruiting and HR in the first place.”
Mike Gregoire, the Partner who led the deal for Brighton Park Capital, mentioned the choice to put money into Paradox was rooted in a transparent view towards the long run.
“Paradox is fundamentally aligned with where the world is going,” mentioned Gregoire, who served as CEO of cloud-based expertise administration pioneer Taleo from 2005 by means of 2012, when the corporate was acquired by Oracle for $1.9 billion. “The company is seeing increased adoption as digital transformation becomes more critical to organizational resiliency and long-term success. Paradox is the clear leader in its category and we’re thrilled to partner with their team to execute a vision for the future of work.”
Shaping the Future of Work with Assistive Intelligence
In 2019, Paradox was welcomed into the elite SAP.iO Foundries, SAP’s world community of top-tier no-equity startup accelerators, and is an SAP AppCenter Partner. Paradox can be collaboratively built-in with lots of the world’s main recruiting and expertise administration techniques, together with Workday, ADP, Cornerstone, iCims, SmartRecruiters, HiredScore, Beamery, TMP, Avature, SmashFly/Symphony Talent, and TalentReef.
Paradox’s AI assistant Olivia augments these options by automating widespread recruiting, HR, and expertise administration duties – like answering candidate and worker questions, screening leads and candidates, routinely scheduling interviews, accumulating suggestions, streamlining onboarding, and internet hosting digital occasions – all by means of easy conversational experiences. Olivia speaks greater than 100 languages and engages wherever conversations occur – through the online, textual content message, main messaging apps like Facebook Messenger, WhatsApp, and WeChat, and thru voice assistants like Alexa and Google Assistant.
Among Paradox’s accomplishments prior to now yr:
- Recognized as one of the best HR products of 2019 by Human Resource Executive
- Selected because the 2019 Talent Solutions Impact Award winner by Recruiting Trends & Talent Tech
- Named HCM Solution of the Year on the 17th Annual American Business Awards
- Identified by Forbes as one of America’s Best Startup Employers
Building the Next Great Tech Company in Arizona
Since its founding in 2016, Paradox has grown to greater than 140 world workers and never solely helped form the panorama of its trade, but additionally Arizona’s financial system. Paradox was named a winner of the 2017 Arizona Innovation Challenge, and extra not too long ago gained the Greater Phoenix Chamber of Commerce’s IMPACT Award for Exceptional Innovator.
“We’re committed to building the next great Arizona software company,” mentioned Matos, an Arizona native. “We’re blessed with incredible talent in this state and we’ve built a team that’s passionate about helping our industry solve some of the biggest talent challenges on the planet. We’ll continue to expand across the US and internationally, but Arizona is home and we’re proud to keep growing our team here.”
A Culture Inspired by Client Obsession
Matos factors to a deep dedication to client-centric guiding values as a key driver of the corporate’s success. Those values affect each determination the corporate makes – from which merchandise to construct to how workers prioritize their time. And that dedication has been significantly acute through the world COVID-19 pandemic.
“It’s inspiring to see how quickly our team and our technology has helped many of our clients adapt to hiring and talent management challenges they’ve never seen,” Matos mentioned. “I’ve never been more confident about the impact assistive technology and conversational AI can deliver for talent teams, candidates, and employees, because we’ve seen the results. I’m excited to partner with Brighton Park Capital and lean into Mike’s incredible industry experience to help our clients continue to innovate.”
Gregoire will function Chairman for Paradox, bringing greater than 20 years of govt management expertise to Paradox’s board of administrators. At Taleo, he led the corporate throughout its transformation from an early SaaS innovator – and creator of the applicant monitoring system – into an HCM powerhouse with 20 million customers. After leaving Taleo, Gregoire joined CA Technologies as Chairman and CEO, main the corporate to a $10.5 billion improve in market capitalization in lower than six years.
Gregoire says he sees monumental potential to double down on Paradox’s roadmap and proceed partnering with main HCM suppliers to reinforce experiences for everybody within the hiring course of – from candidates and workers, to recruiters, HR leaders, and hiring managers. “Aaron has assembled a world-class team with a clear understanding of what this market needs,” Gregoire mentioned. “We’re excited to be along for the ride and to support a vision that I fundamentally believe will change the way the world works for the better.”
Launched in late 2016, Paradox was based with the idea that recruiters, hiring managers, and expertise leaders ought to spend their time with folks, not software program. Olivia, the corporate’s conversational AI assistant, automates administrative work – like screening, scheduling, onboarding, worker communications, and extra – to drive effectivity that offers groups hours again of their week, and permits everybody to do higher work, sooner. Since its founding, Paradox has earned the belief of greater than 200 shoppers globally, together with among the greatest manufacturers on this planet – CVS Health, McDonald’s, Unilever, Intel, Aramark, and plenty of extra within the Fortune 500. The firm has gained quite a few awards, together with being named one among Human Resource Executive’s Best HR Products of 2019, and was not too long ago named one among Forbes’ Top 500 Startup Employers. To study extra, go to www.paradox.ai.
About Brighton Park Capital
Brighton Park Capital is a Greenwich, Conn.-based funding agency that focuses on software program, data companies, technology-enabled companies, and healthcare. The agency seeks to put money into corporations that present extremely revolutionary options, companion with nice administration groups, and produce purpose-built, value-add capabilities that match the distinctive necessities of its corporations. For extra details about Brighton Park Capital, please go to https://www.brightonparkcap.com.
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