Karat Raises $110M to Improve Technical Hiring
Karat Inc., a startup that helps companies recruit software engineers faster and free up time for their existing development teams in the process, has closed a $110 million funding round led by Tiger Global. The round, announced this morning, also saw the participation of Norwest Venture Partners, 8VC, Exor, Base Partner and Sempervirens Fund. Seattle-based Karat has raised about $170 million to date.
“Just like the public cloud moved everyone from private computing to shared infrastructure, Karat’s Interviewing Cloud is upending the old way of do-it-yourself interviewing that eats into valuable engineering time and fails to delight candidates,” said Karat co-founder and Chief Executive Officer Mohit Bhende.
Because of the recruiting workflow’s highly technical nature, candidate assessments are often carried out by a company’s developers. According to Karat, an estimated $60 billion of engineering time is invested every year in interviewing. The startup has developed a cloud-based platform that promises to free up the time a company’s developers normally spend on interviewing candidates and streamline the recruiting workflow.
Karat will invest in enhancing its data science capabilities to help companies optimize how they recruit developers. The startup also intends to grow its go-to-market teams.
Announcement: Karat Raises $110M to Improve Technical Hiring