AI Recruiting Agent 'Archer' Hits $1M ARR
Tech recruiting company hackajob announced that its AI recruiting agent, Archer, surpassed $1 million in annual recurring revenue in 90 days. The company is now expanding the tool, which qualifies candidates before they enter an applicant tracking system, to cover all knowledge-worker roles.
- London-based hackajob was founded in 2014 by co-founders Mark Chaffey, the current CEO, and Razvan Creanga. The company has raised a total of $33 million in funding, including a $25 million Series B round in May 2023 led by Volition Capital. - The company's AI is built on over 50 million first-party data points from its community of over 900,000 tech professionals. This data is used to power their proprietary machine-learning models that match candidates to roles. - Archer is part of a larger AI-powered platform called 'hackajob intelligence,' which was the result of a 10-year development process. This platform includes other AI agents named Chase and Thena that assist with different parts of the recruitment process. - The company has a significant focus on the U.S. market, which it entered in 2022. As of May 2023, U.S.-based candidates already represented 25% of the tech talent on their platform. - In the UK, hackajob works with over 1,500 companies, including notable names like Roku, Capgemini, and The Financial Times. - A key feature of hackajob's platform is its effort to reduce hiring bias. It uses generative AI to analyze job descriptions and suggest more inclusive language, and it allows companies to track their diversity and inclusion objectives. - The platform is designed to increase efficiency in the hiring process, with the company claiming it can reduce the number of applications needed to make a hire by a factor of seven. - While hackajob is a significant player, it operates in a competitive landscape that includes major job platforms like ZipRecruiter and specialized tech hiring platforms such as Otta and RippleMatch.
