Seattle-based startup Humanly has acquired San Francisco-based startup Teamable, both of which offer AI-boosted HR tools for automating recruiting functions. The terms of the deal were not disclosed, but Humanly CEO Prem Kumar stated that the acquisition aims to redefine talent acquisition by providing customers with tools to not only find the best candidates but also engage and convert them effectively. After the acquisition, Teamable CEO Matthew Raymond will join Humanly as vice president of product, with the overall company size reaching just under 50 employees.
Teamable, founded in 2017, offers tools for screening job candidates, scheduling interviews, automating initial communication, running reference checks, and more. While the specific capabilities of the acquired technologies were not detailed, it is likely that the acquisition strengthens Humanly’s existing product offering. Humanly, which raised $12 million almost a year ago, is positioned as a solution for companies looking to streamline and automate their recruitment processes.
The acquisition comes at a time when some recruiting companies are facing financial challenges due to the ongoing tech downturn that began in 2022. Major job site Indeed recently laid off 8% of its workforce, while Seattle-based startup SeekOut also had layoffs. This trend suggests that the recruitment industry is facing headwinds, potentially driving consolidation through acquisitions and partnerships to ensure the continued growth and success of companies in the space.
By joining forces, Humanly and Teamable aim to provide customers with a comprehensive suite of tools for talent acquisition, enabling them to efficiently handle the recruitment process from start to finish. This holistic approach, which includes automating candidate screening, scheduling interviews, and communication, aligns with the broader trend of using AI and automation to streamline HR functions. The combined company will leverage the expertise of key team members from both Humanly and Teamable to drive product innovation and enhance customer value.
As part of the acquisition, Teamable CEO Matthew Raymond will take on the role of vice president of product at Humanly. His experience and insights from leading Teamable will likely play a crucial role in shaping the future direction of the company’s product development and strategy. With a focus on redefining talent acquisition and making the process more efficient and effective for customers, Humanly is poised to benefit from the combined strengths of both teams and technologies.
Overall, the acquisition of Teamable by Humanly signifies a strategic move to expand the company’s capabilities in the competitive HR tech market. By combining forces, the two startups are not only strengthening their product offering but also positioning themselves for further growth and success in the evolving recruitment industry. With a shared vision of revolutionizing talent acquisition through automation and AI, Humanly and Teamable are well-positioned to deliver value to customers and drive innovation in the HR technology space.
