With growth, the Otterbein-based company founded by Michael Rosenbaum that’s applying data analytics to the hiring process is at a moment of increased visibility. At the same time, the company is also looking at bringing data to processes beyond the moment that someone is hired.
“The name didn’t quite capture the bigger picture of what we were doing,” Rosenbaum said.
As a result, Pegged Software is now Arena.
Pegged Software is now Arena! Read about the change on our blog. https://t.co/PNQZMIiR3N
— Arena (fka Pegged) (@arenadotio) September 23, 2016
The rebranding comes as the seven-year-old company’s software that whittles down application pools for a job to identify applicants is being used more widely in the healthcare industry. The software has roots in Rosenbaum’s academic work following stints as an economist at the White House and State Department, as well as 16-year-old Catalyst DevWorks, which brings analytics to the process of assembling teams of software engineers.
The company raised a $7.5 million Series A in 2015.
In a talk just prior to that announcement, Arena President Myra Norton discussed the implications of introducing an algorithm to a process that is typically conducted by humans. Within the hiring process itself, the system can reduce bias. From the perspective of a healthcare system that is always looking to keep costs down, Arena says it saves hospitals money by reducing turnover. Recent growth shows more adoption.
After announcing 56 new facilities earlier this year, Rosenbaum said it’s used in 449 facilities. Mt. Sinai Hospital in New York is a recent high-profile client. Sunrise Senior Living is another big name.
Half of the company’s 30 employees are now based at an office in New York and is looking to add 20 to 25 employees in the near future, Rosenbaum said. About half of the new hires will be in Baltimore.