The round led by Expa Ventures will advance product development and marketing efforts to help more companies hire 10 times faster by automating the most tedious hiring tasks
NEW YORK, Dec. 12, 2024 /PRNewswire/ — Pin, the AI-powered recruitment tool that automates tedious hiring tasks and reduces time-to-hire by nearly 70 percent, today announced a $3 million seed round led by Expa Ventures, a leading early-stage venture firm and incubator. Pin serves over 600 customers. The funding will support Pin’s expansion, allowing the company to accelerate product development, scale marketing efforts, and meet rising demand driven by early customer success while growing its team.
In the $500 billion recruitment market, lengthy hiring processes are hindering growth for companies. With 47 percent of companies unhappy with how long it takes to fill roles and only 56 percent finding their recruiting effective, the pressure to find top talent is increasing. Most AI tools for recruiting are falling short, and traditional platforms can feel like searching for a needle in a haystack, leading to missed opportunities. Pin solves these problems by automating tedious and time-consuming steps like sourcing, outreach, and scheduling, acting as a Google-like search engine for recruitment efforts. With precise candidate matches, recruiters can focus on what matters most: building meaningful relationships with candidates and securing top hires.
“The hiring process is one of the most important, but frustrating responsibilities for companies because they are bogged down by inefficiencies and tedious tasks,” said Steven Lu, CEO and co-founder at Pin. “Pin tackles this problem head-on, freeing recruiters from time consuming tasks to focus on building relationships and hiring the best candidates ten times faster than traditional methods. We’re dedicated to making hiring not just faster but more human.”
Approximately 70 percent of candidates Pin recommends for their customers are accepted into the hiring pipeline, which shatters industry averages. With Pin, recruiters fill positions in just two weeks—compared to the 44-day industry average—while saving over two hours daily to focus on their business and securing top talent.
The platform leverages advanced automation and data-driven insights to help organizations source, engage, nurture, and schedule candidates with speed and efficiency:
Source: Pin instantly identifies ideal candidates based on a deep understanding of a company’s needs, cutting sourcing time from 4-10 days to immediate results.Engage: Saves time with pre-written, highly personalized emails that achieve exceptional open rates, reducing the typical 1-3 day process to instant.Nurture: Ensures no candidate conversation falls through the cracks with tailored follow-ups, shrinking response time from 4-10 hours to instant.Schedule: Hassle-free scheduling eliminates back-and-forth, streamlining the process from 1-2 hours to instant.
“Pin has redefined our hiring process, delivering precisely what we needed,” said Fahad Hassan, CEO and co-founder of Range. “Within just two weeks of using the technology, we were able to hire both a software engineer and a financial planner—roles that are critical to our growth. The platform’s speed and accuracy of candidate matching are truly unmatched.”
Pin serves over 600 customers nationwide—including signing over 300 new customers in the past 40 days. Pin has also increased revenue by four-timers in just over the past 30 days. Its flexible pricing model, combining per-user licensing with usage-based add-ons, ensures accessibility for diverse organizations. With advanced analytics and an intuitive design, Pin provides real-time insights into recruitment funnels, helping teams measure hire quality, track diversity metrics, and simplify the hiring process.
“As organizations strive to streamline their hiring processes, maintaining high-quality candidate interactions has never been more crucial,” said Milun Tesovic, partner at Expa Ventures. “Pin stands out as a leader in this space, automating fundamental hiring tasks to address critical pain points faced by recruiters today. We are excited to support their vision to transform the recruitment landscape and look forward to collaborating with their talented team to drive meaningful change across the industry.”
Pin’s latest update delivers new features for smarter recruiting. Enhanced search filters refine candidate targeting by location, experience, and demographics, while LinkedIn InMail integration streamlines outreach directly from the platform. A revamped dashboard improves tracking of candidate activity, and new features like phone number lookups, email signatures, and unsubscribe automation boost efficiency. Pin also achieved SOC 2 Type 1 compliance, a certification that validates its robust data security measures and commitment to safeguarding customer information.
The platform is built on nearly a decade of recruiting expertise from its founder, Steven Lu, and a core team composed mainly of the professionals behind the successful development and sale of Interseller to Greenhouse.
The new funding will be used for research and development, enhancing Pin’s platform with new features, and expanding the team to meet increasing customer demand. To learn more, please visit: https://www.pin.com/.
About Pin
Pin is an all-in-one AI-powered recruiting agent designed to streamline the hiring process and connect organizations with top talent faster. Its innovative technology, developed by a team with nearly a decade of recruiting expertise, offers a smarter, more efficient solution for modern workforce needs. With flexible pricing models and scalable options, Pin is trusted by businesses of all sizes to optimize their recruiting efforts. To schedule a demo or learn more, visit https://www.pin.com/.
View original content:https://www.prnewswire.com/news-releases/ai-powered-recruitment-platform-pin-launches-out-of-stealth-with-3-million-to-cut-hiring-time-by-70-302329679.html
SOURCE Pin
Coin Market5 days ago
Coin Market4 days ago
Coin Market4 days ago
Coin Market3 days ago
Coin Market5 days ago
Coin Market4 days ago
Coin Market4 days ago
Coin Market4 days ago