Contxto – Brazilian HR startup Gupy raised R$40 million (around US$6.8 million) and made the announcement this week. Oria Capital dished out the funds which the startup will use to improve its artificial intelligence (AI) platform as well as launch new features for it.
To that end, Gupy will be hiring an additional 30 team members, most of which will be for product and tech development. The investment will also serve to expand its operations in Brazil.
This isn’t the startup’s first round. It had closed equity previously with many well-known investors from Brazil like Canary, Valor Capital, and Maya Capital.
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Gupy’s AI platform makes for efficient hiring
The startup developed an AI system named “Gaia.”
Now, Gaia’s job is to screen through candidates for an open position. It will then rank them to find the best fit based on factors like the job description, similar profiles, etc. As more companies rely on it, the platform uses machine learning to improve its recruitment criteria and precision.
It also offers a toolbox of other features to make life easier for HR managers and job candidates. Within the platform, a business can build their own page for job openings, establish its stages for recruiting, as well as create job descriptions from templates.
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But Gupy wants to take the hiring process completely online. And it plans to use the investment for just that. This goal may have also persuaded Oria Capital to pitch the funds as online services will only continue to garner interest in the future.
That’s chiefly because coronavirus has highlighted the inefficiencies of relying on in-person and physical resources to accomplish basically anything: completing purchases, consulting a physician, or hiring your next software developer.
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-ML
