Funding round led by Menlo Ventures will help the company deliver transformational value to recruiting and staffing companies
SEATTLE, Feb. 11, 2025 /PRNewswire/ — Today, ConverzAI, the leading innovator in AI-driven recruitment solutions, announced a $16M Series A funding round to accelerate product innovation and expand go-to-market strategy. The round was led by Menlo Ventures, and joined by Left Lane Capital. Seed investors Foundation Capital and Afore Capital participated in the round as well.
ConverzAI’s platform deploys virtual recruiters that handle the entire recruitment pipeline—from initial candidate sourcing through final placement—using generative AI technology and agent AI principles. The platform’s virtual recruiters conduct natural conversations over voice, text and email with candidates, analyze responses in real-time, and enable data-driven decisions throughout the recruitment process. They have processed over 100,000 jobs, engaged millions of candidates and delivered tens of thousands of placements for their customers.
“ConverzAI’s solution is in a sweet spot, at the intersection of agentic AI, voice AI and recruiting,” said Venky Ganesan, Partner at Menlo Ventures. “Other platforms have attempted to solve a slice of the recruiting process, but what Ashwarya and his team are doing automates the entire process while still focusing on the candidate. Menlo Ventures is all in on AI and this investment is a perfect embodiment of that.”
The funding comes at a time when the Agentic AI trend is just beginning to gain traction, ConverzAI has been ahead of the curve, delivering value rooted in its principles for the past few quarters. ConverzAI’s platform stands out for its ability to conduct nuanced, context-aware conversations at scale with candidates while maintaining consistency and eliminating bias from the recruitment process.
“I founded ConverzAI to create transformational value for organizations by automating and optimizing the recruitment process. We believe conducting entire business conversations through AI technology is simply game-changing,” said Ashwarya Poddar, Founder & CEO at ConverzAI. “My team and I are committed to advancing agentic AI and voice AI solutions and are fast becoming an essential recruiting arm for our staffing customers. Menlo Ventures’ alignment with our vision to transform the recruiting and staffing industry is greatly appreciated and incredibly exciting.”
“In today’s competitive talent landscape, ConverzAI’s virtual recruiter has become an integral part of our recruitment strategy,” said Rob Lowry, Chief Talent Strategy Officer at Apex Systems. “Their platform has accelerated our recruitment process at speed and scale and significantly improved the quality of information on our candidate pipeline. The virtual recruiter has had conversations with over 250,000 candidates, consistently delivering placements and achieving a candidate satisfaction score exceeding 80%. The AI recruiter handles routine tasks with unparalleled speed and efficiency, allowing our human recruiters to focus on relationship-building and complex decision-making.”
“ConverzAI’s AI-powered virtual recruiters are setting a new standard for innovation in staffing,” said Richard Wahlquist, CEO of the American Staffing Association. “The platform’s ability to deliver superior results for staffing industry customers drives meaningful impact for businesses and candidates alike. ConverzAI’s advanced AI solution, is a good example of ASA’s commitment to helping our industry understand and leverage leading edge technology solutions.”
Looking ahead, ConverzAI aims to increase its workforce and expand internationally by the end of the year. The new funding will be utilized to drive innovation, enhance its go-to-market strategy, and further its goal of transforming recruitment with AI-powered technology.
About ConverzAI
ConverzAI is a leader in AI-powered recruitment solutions transforming how businesses discover, engage, and onboard talent. With advanced AI technology and automation, ConverzAI’s enterprise-grade platform empowers organizations to streamline recruitment efforts, deliver better candidate experiences, and make data-driven hiring decisions. To learn more about ConverzAI, visit www.converzai.com.
About Menlo Ventures
Menlo Ventures is a leading early-stage venture capital firm investing at the forefront of AI. Our portfolio includes more than 80 public companies and over 165 exits through mergers and acquisitions. Currently managing more than $6 billion in assets, we invest at every stage across Consumer, Enterprise, and Healthcare. Our portfolio companies include Abnormal Security, Anthropic, Benchling, Carta, Chime, Harness, Pinecone, Poshmark, Pillpack, Recursion, Roku, Rover, Siri, Typeface, Uber, and Warby Parker. We strive to have a positive impact on everything we do. When we’re in, we’re ALL IN, and we are ALL IN on AI.
SOURCE ConverzAI