Talent Data Platform Plum Raises $4.2M in Seed Funding
Made the Announcement at SuccessConnect® Las Vegas
Plum, a SaaS (software-as-a-service) firm specializing in providing enterprises with the data they need to quantify the potential of their employees, recently revealed that it had raised $4.2M in seed funding. Real Ventures, a Venture Capitalist company committed to future-focused startups led the funding for Plum. The other investors for Plum include SAP.iO and BDC Capital’s Women in Technology Venture Fund. Adding in the funding it received in the Angel round, the total now moves up to $6.1M.
The company made the announcement at SuccessConnect® Las Vegas, the annual user conference from SAP® SuccessFactors®. The conference is aimed at helping HR professionals and Senior Business Leaders solve challenges relating to the workforce and predict future trends in order to take anticipatory actions. Plum’s app integrates with SAP® SuccessFactors® Recruiting, which is a part of the HCM suite.
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Enabling Predictive Talent Decisions with the Power of AI and Industrial/Organizational Psychology
The talent data platform, Plum was originally launched as a recruiting tool. But its offerings have expanded in numerous avenues. Today, it enables companies to make data-driven and future-ready decisions at every stage of their employee lifecycle. It provides companies with the data required to make predictive talent decisions with the power of AI and Industrial/Organizational Psychology. It assists partners with hiring, talent mobility, training learning and development (TLD), and recognizing emerging leaders.
Plum is on a mission to revolutionize how enterprises quantify the potential of their labor force. It helps automate the expertise of I/O Psychology while utilizing best practices for the companies to unlock the potential of every employee and applicant in their firms.
Plum Prepares Enterprises for the Future of Work
Caitlin MacGregor, Plum’s CEO, stated in the announcement that the company’s mission was to prepare enterprises for the future of work by unlocking human potential. “Organizations are facing unprecedented strategic workforce planning and talent management challenges in this era of Automation and AI. This funding is enabling us to expand our team and our partnership with SAP to equip enterprises to tackle these challenges with predictive people data,” she quoted.
Janet Bannister, a partner at Real Ventures, said that Plum was going to not only become a huge company but will also make a noteworthy, positive impact on millions of lives. She said, “Over the next decade, people will need to be assigned and trained for new jobs on a scale that has never been seen. McKinsey claims that 400 to 800 million jobs will disappear due to automation in the next 15 years. At the same time, 85% of jobs that will exist in 2030 do not exist today.” She went on to add that Plum was providing scientifically-validated, predictive data that has the power to scale to get every person in the right job for the future of work.
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