impress.ai, which specialises in building an AI-powered chatbot platforms targeting recruiters, announced that it has officially closed a total of US$1.2 million seed round courtesy of Reapra, the venture builder based in the company’s home base, Singapore, as reported by Deal Street Asia.
The fund will be used for the company’s market expansion plans, product enhancement, as well as creating Mandarin- and Japanese-speaking chatbots.
In helping recruiters with their work, impress.ai developed a conversational bots that autonomously interviews and shortlists candidates 24/7. The company claimed that the process is done more quickly and objectively.
“Using virtual recruitment chatbots is one way to overcome the main problem in recruiting funnel, which is the high rate of good candidates dropping out in the early stages. impress.ai uses deep learning algorithms to make sense of an applicant’s answers and respond in an accurate, realistic way,” said Sudhanshu Ahuja, CEO and co-founder of impress.ai.
The company’s chatbots can launch into interacting with candidates with endless enthusiasm, preventing them from dropping out far too early in the often tedious recruitment process. In addition to AI and machine learning, the platform combines principles of I/O psychology to evaluate candidates based on their competency level and domain expertise.
So far, the company’s portfolio includes names like DBS Bank, NTUC Income, and Singtel, which all belong to highly-desirable companies for vacancies. impress.ai also intends to embark on its Series A round in the next few months to bring in additional capital to expand globally.