Munich-based start-up Retorio is bringing AI to the HR department, and is now receiving a sum in the millions in a financing round. Half of it comes from London fund Basinghall Partners, the first institutional investor. The other half from existing investors and a new private investor.
“As a digital company offering a service that supports physical distances, we have weathered the crisis relatively well,” says co-founder Christoph Hohenberger. Retorio was founded in 2018 as a spin-off from the Technical University of Munich. Using AI, it analyzes videos of job applicants, for example, to create a personality profile. This is intended to make the selection process more objective and fair.
Retorio plans to use the money to attract customers and develop its products.
Announcement: Retorio Receives Undisclosed Sum for AI HR