The HR tech support company Sense has completed its SoftBank Vision Fund 2 led USD 50 million Series D financing round. With this funding, Sense valuation increased to USD 500 million. It has also more than doubled its employees and revenue during the last year.
Sense is a San Francisco-based five and a half year old startup. This new spike in valuation comes only a few months after the Series C funding closure. The latter raised USD 90 million for Sense.
All companies boost that their talented employees are what make them successful. Sense helps them to find, manage and keep their talents. The company helps them do this quickly and effortlessly.
Sense focuses on a rather unpopular niche of HR – blue-collar workers. Most of their competitors concentrate on “knowledge workers”. These platforms, however, are inappropriate for Uber drivers, storage workers, and warehouse packagers. These lines of work have peculiarities, which Sense takes into consideration.
While recruitment of a knowledge worker may take more than 6 months, blue collars are “needed tomorrow”. This market is estimated to be USD 200 billion strong. This could well be a reason for the fast growth of Sense.
Giant customers like Amazon, Kenny, Varco, and Sears use Sense to cater to their recruitment needs. These are among the 600 strong client bases of the company. Sense reports an overwhelming 263% increase in their number of candidates, as well as an 81% time reduction for roll descriptions. During the past year and a half, Sense has also been used to hire healthcare workers.
The company uses AI, personalization, and automation to service its clients. Sense applies chat-bots to eradicate biases in the talent acquisition process.
Today Sense is aiming at “changing the future of work” not only in the US but globally. The company targets expansion into several new markets including Western Europe in the coming months.