Canaan Partners Leads Seed Round in HeyMilo’s AI-Driven Platform to Shape Future of Recruiting
NEW YORK, March 3, 2025 /PRNewswire/ — HeyMilo, an AI-powered candidate screening platform, today announced $2.2 million in seed funding. The round, led by Canaan Partners, underscores the growing demand for innovative technologies that streamline recruitment and unlock efficiencies in talent acquisition. Additional participation came from Alumni Ventures and Entrepreneurs Roundtable Accelerator, reflecting broad confidence in HeyMilo’s potential to reshape the future of hiring.
HeyMilo’s AI agents automate the initial interview screening process, enabling companies to efficiently evaluate candidates without sacrificing quality or precision. The platform’s ability to autonomously conduct tailored interviews, ask insightful follow-up questions, and deliver actionable analyses empowers hiring teams to identify the best talent faster, at scale, and at a fraction of the cost.
“Great companies are built on great people, but the hiring process hasn’t kept up with the speed of modern business. HeyMilo is changing that. By bringing AI-powered agents into recruiting, they’re making it possible to connect with more candidates, faster, without sacrificing quality, fairness, or the personal touch,” said Rayfe Gaspar-Asaoka, partner at Canaan Partners. This isn’t just about efficiency – it’s about unlocking opportunities for companies and job seekers alike. We believe HeyMilo is reshaping the future of work, and we’re thrilled to be part of the journey.”
The recruitment technology market is vast, with HeyMilo addressing a significant gap in the early hiring stages. Due to time and resource constraints, traditional recruiter-led screenings often result in overlooked talent. HeyMilo ensures companies can assess a broader range of candidates, particularly for high-volume roles.
At the heart of HeyMilo’s platform lies a comprehensive approach to address critical pain points in the recruitment process:
- AI Agent Builder:Â HeyMilo reads job descriptions from a company’s applicant tracking system (ATS) and generates more comprehensive interviews through various engagement channels, including voice, video, phone, and SMS, which are further configurable based on a company’s screening and vetting needs of candidates.
- AI Agent Interviewer:Â The AI Agent screens candidates using a set of “knockout” questions across various channels. Then, they conduct an adaptive voice or video interview to assess their skills and fit for a role.
- Interview Analysis:Â The platform transcribes and scores interview responses, providing actionable insights that allow hiring managers to make data-driven decisions without leaving their ATS of choice.
“HeyMilo allows staffing and recruiting agencies, BPOs, and other high-volume hiring organizations to scale their recruitment team infinitely. They can view HeyMilo as their candidate interview orchestrator, effectively identifying top candidates in hours, not weeks. We’ve seen AI agents take over the market in various industries like call centers and within sales organizations, and we’re ushering that adoption to recruitment. And while some may argue this takes away from the candidate experience, we’re seeing extremely high candidate CSAT scores and candidates consistently remarketing how they enjoy being able to go beyond their resume,” said Sabashan Ragavan, co-founder and CEO of HeyMilo
Recent advancements in large language models (LLMs) and related AI technologies have made HeyMilo’s solution possible and exceptionally effective. The costs of enabling technologies like speech-to-text, generative audio, and cloud computing have dropped significantly, making HeyMilo’s platform highly scalable and accessible.
“We’re a team of ten recruiters, but with HeyMilo, we can work as if we’re a team of 30. As soon as candidates apply, they can start the process immediately, and we can start evaluating their language and skills immediately. You no longer have to wait for a recruiter to be available to call and start the process with a candidate,” said Laura Pacheco, head of recruiting at BPO Labs.
HeyMilo was co-founded by Sabashan Ragavan and Ramie Raufdeen, seasoned entrepreneurs with deep technology and product development expertise. Before HeyMilo, the duo co-founded a startup focused on job referral systems and held leadership roles at major technology companies, including Instagram, Microsoft, and Salesforce.
Since its inception, HeyMilo has partnered with a range of customers to refine its product and validate its value proposition. Early adopters include staffing agencies, BPOs, and companies that lack a traditional recruitment team, such as BPO Labs and Alpine Home Air, which have increased candidate placements while reducing costs.
“As a one-person HR department, speed to getting back to candidates and going through and vetting candidates was a significant challenge, with some roles having up to 3,000 candidates apply in just a few days. Using tools like HeyMilo, I can offer a great candidate experience and respond to them quickly. I also have a great experience since I can quickly vet candidates beyond just their resume,” said Wendy Sergot, head of HR at Alpine Home Air.
The seed funding will accelerate product development, expand the team, and scale customer acquisition efforts. With a clear path to product-market fit and a growing roster of satisfied customers, HeyMilo is poised to transform how companies screen, interview, and evaluate candidates at scale.
About HeyMilo
HeyMilo is a venture-backed company revolutionizing recruitment with generative AI-powered agents that enable organizations to screen, interview, and evaluate candidates at scale through an omnichannel approach. Founded in 2023 and supported by Canaan Partners, Alumni Ventures, and Entrepreneurs Roundtable Accelerator, HeyMilo leverages cutting-edge advancements in large language models to help companies find the best talent faster, smarter, and more inclusively. With seamless ATS integration, intelligent follow-up capabilities, and comprehensive data insights, HeyMilo helps staffing agencies, BPOs, and more scale their recruitment teams efficiently. For more information, please visit https://www.heymilo.ai.
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