Perfect raises $23M to revolutionize recruitment with AI

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Perfect, an AI-powered recruitment platform, has secured $23 million in funding to redefine hiring processes for companies. The startup, founded by Eylon Etshtein, aims to help recruiters streamline job postings, candidate sourcing, and hiring workflows. Since its inception, Perfect has grown from 20 to 200 customers, including industry giants like Fiverr, eToro, McCann, and Coralogix.

With proprietary AI technology, Perfect automates hiring by analyzing recruitment data, optimizing job postings, and improving candidate matching. Unlike competitors such as LinkedIn, Indeed, and Recruiter, Perfect claims to reduce recruiter workload by up to 25 hours per week. The startup has built its AI from scratch, avoiding reliance on third-party large language models.

The funding, which includes a $12 million equity investment and a SAFE note, comes from investors like Target Global, RTP Global, Pitango, Hanaco Ventures, Joule Ventures, and Young Sohn. The company plans to expand its AI capabilities and introduce tools for job seekers to refine their applications. With AI-driven hiring gaining traction, Perfect positions itself as a leader in the recruitment technology space.

1. Introduction to Perfect

Perfect is an AI-driven recruitment platform designed to optimize hiring workflows for companies. The platform assists recruiters with job posting, candidate sourcing, and applicant evaluation, helping businesses find the right talent efficiently. With AI at its core, Perfect eliminates manual hiring processes, making recruitment faster and more precise.

1.1 Working Model of Perfect

Perfect functions as an AI co-pilot for recruitment teams. The platform helps recruiters craft job descriptions, determine the best job boards for posting, and manage inbound applications. By leveraging AI-driven analytics, it enhances job visibility, shortlists candidates, and ranks applications based on relevance.

1.2 Revenue Model of Perfect

Perfect generates revenue through a SaaS-based subscription model. Companies pay for access to its AI-driven recruitment platform, which offers varying levels of automation and insights. The startup also partners with large recruitment firms, licensing its AI-powered hiring solutions to streamline enterprise-level recruitment operations.

1.3 Funding Background and Key Investments

Perfect’s $23 million funding includes a $12 million equity investment from Target Global, RTP Global, and Pitango. More recently, the company secured additional funding via an interest-free SAFE note from Hanaco Ventures, Joule Ventures, and Young Sohn. This funding will support AI development and product expansion.

1.4 Founders and Leadership Team

Perfect was founded by Eylon Etshtein, best known for his work with facial recognition startup Anyvision. Etshtein, after stepping away from Anyvision, envisioned an AI-powered recruitment tool to solve hiring inefficiencies. His experience in AI-driven search technology helped shape Perfect’s proprietary recruitment algorithms.

2. The Growth and Impact of Perfect

Since its launch, Perfect has rapidly expanded its client base from 20 to 200 companies. Notable clients include Fiverr, eToro, McCann, and Coralogix. The platform’s ability to reduce recruiter workload by 25 hours per week has positioned it as a disruptive force in the hiring industry.

2.1 AI-Driven Recruitment Transformation

Unlike traditional hiring tools, Perfect does not rely on third-party large language models. Instead, it has developed its AI from scratch, training it on proprietary recruitment datasets. This allows Perfect to offer more accurate candidate recommendations and job-matching solutions.

2.2 Competitive Landscape

Perfect competes with platforms like LinkedIn, Indeed, Recruiter, HiBob, and Workable. However, its proprietary AI and customized hiring solutions set it apart. While other platforms use generic AI models, Perfect’s technology is tailored for recruitment-specific data processing.

3. The Future of Perfect

The startup plans to expand its AI capabilities and introduce a free tool for job seekers. This initiative aims to help candidates optimize their job search while providing Perfect with additional data to refine its AI models. As AI-driven hiring gains traction, Perfect’s innovation is expected to reshape recruitment strategies globally.

4. Learning for Startups and Entrepreneurs

1. AI Can Optimize Traditional Industries: Perfect showcases how AI can disrupt recruitment, an industry traditionally reliant on manual processes.
2. Data-Driven Decision Making: Proprietary AI models provide a competitive edge by offering more accurate insights than generic AI solutions.
3. Scaling a Startup Requires a Strong Value Proposition: Perfect’s rapid customer acquisition demonstrates the importance of solving real-world problems with tangible benefits.
4. Investor Interest in AI Remains High: The funding Perfect secured highlights the growing demand for AI-powered business solutions.

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