Traitify, which makes a visual personality assessment platform that is used by companies as they recruit employees, raised $12 million in a Series B funding round, said CEO Dan Sines.
The round was led by JMI Holdings, LLC, which has an office in Harbor East, and included participation from existing investors.
Employing a mix of psychologists and technologists, the Highlandtown-based company that was founded in 2011 developed an image-based personality test that can be completed on a mobile device in less than two minutes, and is based on the “Big 5” personality traits. Used during the application process, it’s designed to help the human resources teams to understand candidates and get a sense of who will perform well in specific positions. It also gives the candidates feedback and can enable communication based on specific traits.
Employers that are receiving hundreds or thousands of applications often use personality tests. Traitify’s system helps to speed up the process with a faster method than paper-and-pencil tests, as well as automate both the process and the insights provided. The company has found growth working with companies that hire large numbers of hourly employees. Its clients include human resources teams at companies like JO-ANN Stores, McDonalds Canada and Australia-based Coles Supermarkets.
“Traitify is tackling a pervasive problem plaguing nearly every industry: disengaging and tedious personality tests used for hiring decisions,” said Rick Nelson, investment director at JMI Holdings, LLC, in a statement. “With its creative approach and forward-thinking leadership, we believe Traitify has the opportunity to become the industry standard, grow exponentially and build lasting value for both businesses and their employees.”
The COVID-19 pandemic has led some retailers to furlough workers, while others, like grocery stores, have been hiring in waves. Sines said the company is also expanding into manufacturing and logistics amid increases in hiring during the pandemic. With reopening, waves of new positions could follow, and companies will need help sorting it all out.
“The purpose of the investment is to fuel our product growth,” Sines said.
The company has plans for new content, engagement and development platforms, Sines said. It is also looking to expand outreach in sales and marketing. Going forward, it is planning hiring.
The Series B represents an expansion round. It has a product that works and has found a fit with customers. Over the last year and a half, Sines said the team of 30 people has grown its go-to-market strategy. Last year, former Ad.com executive Chris Heine joined as COO. It has also gained traction with customers.
“That built up the base that we needed to go and prove ourselves for a round like this to really expand,” Sines said.
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