SAN FRANCISCO–Entelo, the world’s leading AI-driven recruiting automation platform, today announced numerous company milestones that underscore the tremendous momentum it has experienced across all facets of its business. The last quarter in particular demonstrated the impact of Entelo’s investments in new technology development and strategic partnerships.
“In an age when talent is a company’s most precious asset, Entelo uses AI to ensure that organizations not only identify outstanding candidates but also secure highly qualified employees,” said Jon Bischke, CEO of Entelo. “Companies know that Entelo’s effectiveness and efficiency are unparalleled, and as we’ve seen over the last year, our platform excels in connecting the right people, at the right time, in ways that traditional recruiting practices can’t match.”
Customer Traction Sets New Records
Over the past year, Entelo has seen strong growth across all segments, but its enterprise business stands out. Enterprise customers now account for more than 65% of the company’s total revenue. In fact, some of the world’s largest companies depend on Entelo as an integral part of their recruiting efforts. Currently, 21 Fortune 500 companies use Entelo, including five of the Fortune Top 10. Additionally, Entelo works with 22 startups classified as unicorns– privately-held companies valued at over $1 billion. Overall, deal sizes continue to increase as well. For example, in Q4, Entelo closed the largest multi-million dollar and multi-year deal in the history of the company. Concurrently, it also closed a deal with one of the biggest banks in the world.
Investments in New Technology Pay Off
Entelo’s commitment to innovation is one reason for its continued success. Over the past year, the company has launched over 50 new features, including Entelo Insights, Unbiased Sourcing Mode, Diversity Reporting, Email NLP assistant, among others. Entelo has also filed for 10 patents related to new technologies, and the company has achieved its enterprise-grade SOC 2 Type II security certification.
As a result of its advancements, user engagement on the platform grew by nearly 100% year-over-year. Additionally, its AI algorithm has proven better able to source top candidates than human recruiters alone. Last year, recruiters interacted with more than 4 million candidate profiles on Entelo, and its customers increased their pipelines of diverse talent by 24%.
New Partnerships Provide Richer Candidate Insight
Entelo has also increased its breadth and depth of reach into key industry verticals by partnering with companies like Crunchbase. These partnerships have enabled Entelo to enrich both candidate and company information for 500 million profiles. Entelo placed particular emphasis on the financial services and healthcare verticals due to specific and pressing industry needs. The company recognized that the U.S. wealth management industry is likely to face a shortfall of at least 200,000 advisors by 2022. Additionally, the share of finance and accounting workers nearing retirement has increased since 2011, and the unemployment rate in the US for mid- and senior-level financial services professionals is creating a major talent shortage for many key roles.
There have also been dramatic talent shortages in healthcare. Approximately 13,800 primary care physicians and 5,500 psychiatrists are currently needed. Physician demand is predicted to grow faster than supply, leading to a shortfall of up to 135,700 physicians by 2030. Additionally, the total number of job openings for nurses due to growth and replacements will be 1.09 million by 2024. Healthcare is among the top 15 occupations with the largest and fastest projected employment growth, according to the Bureau of Labor Statistics.
Entelo has created targeted solutions to help organizations within these industries source the best candidates so that they do not have to compromise quality, even as talent becomes scarce and competition for that talent intensifies.
To learn more about what makes Entelo the recruiting automation platform of choice for the modern workforce, please visit www.entelo.com.
About Entelo
Entelo builds AI and automation software to help modern recruiters identify, qualify and engage with top talent. Companies of all sizes and industries trust Entelo to provide their talent acquisition teams with higher candidate engagement, actionable insights and increased productivity. The leader in recruiting automation, Entelo helps organizations like, Genentech, Lyft, Netflix, Asana, NASA Jet Propulsion Laboratory, Northrop Grumman and Target build their teams. To learn more about the Entelo recruiting automation platform, visit www.entelo.com. Find out about open roles at Entelo and subscribe to the Entelo Blog for insight and updates on the talent acquisition industry.