June 3, 2015

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HireVue Closes $45M in Funding, Launches New Team Building Software

Press Release

June 3, 2015

Salt Lake City—HireVue unveiled its Team Acceleration software Tuesday to empower team leaders to build and coach the world’s best teams. The software includes new products that leverage HireVue’s proprietary digital video and predictive analytics solutions. The Team Acceleration suite is built on HireVue Iris(™), a patented deep-learning analytics engine that analyzes more than 100,000 audio, video and behavioral attributes for more informed, data-driven people decisions.

HireVue customers outperform their peers with 50 percent higher productivity, 25 percent faster cycle times and 27 percent less turnover.*  Leading publisher Houghton Mifflin Harcourt reported significant benefits using HireVue’s Team Acceleration software, including:

  1. Approximately $70 million in additional revenue
  2. 100 percent of new inside sales reps hit quota
  3. 60 percent reduction in sales turnover
  4. Sales vacancies filled 50 percent faster

“For decades, software has focused on process, tracking and compliance. These systems are largely centered around resumes, profiles and forms. They take HR and team leaders away from people, and into clunky systems,” said Mark Newman, Founder and CEO, HireVue. “Team Acceleration is a refreshing break from the land of the administrative dead. It’s the philosophy of the future, allowing building and coaching a high performing team to be a company-wide initiative. Team Acceleration closes the gap between HR and the business, helping recruiting and talent leaders become highly valued business partners that drive revenue, growth and profitability.”

HireVue’s Team Acceleration software features:

  1. HireVue Build Suite: New products include HireVue Coordinate, an automated interview scheduling platform; HireVue Audio Fingerprinting, which mitigates security risks by identifying potential fraud issues early in the process with recorded interviews; and HireVue Velocity, designed for high-volume and manager-led recruiting such as new store openings. The Build Suite also includes HireVue’s signature digital interview technology and HireVue Insights, which provides companies with people analytics to make more informed hiring decisions.
  2. HireVue Coach Suite:  An all new suite of products built to empower team leaders post-hire. The Coach Suite includes HireVue Accelerate, a cloud-based video and predictive analytics solution, that provides managers with instant visibility into their teams’ behaviors so they can ramp, train and coach their teams to higher performance.

“A lot of enterprise software is slow and cumbersome,” said Rodney Moses, Vice President of Global Recruitment, Hilton Worldwide. “HireVue speeds things up and makes life easier for our general managers, team leaders and recruiters alike. With HireVue, we’ve achieved a Net Promoter Score of two times the hospitality industry average, making both our HR team and the Hilton brand shine in today’s competitive market.”

HireVue also announced its latest funding, closing a round of $45 million led by Technology Crossover Ventures (TCV), a leading provider of growth equity for premier technology companies and investors in Zillow, Netflix, ExactTarget and Facebook. The funding and Team Acceleration software launch capitalizes on other recent company momentum including:

  1. Named one of the Top 10 “Most Promising Companies in America” by Forbes
  2. Named the fourth fastest-growing cloud app of the first quarter of 2015, alongside mainstream apps including FitBit and Slack*
  3. Record fiscal year 2014 growth
  4. Working with 26 of the Fortune 100
  5. Selling out its 2nd Annual Digital Disruption user conference in Park City
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