With the acquisition of Opening.io, iCIMS plans to launch a new AI recruitment solution.
On Thursday (14 May), iCIMS announced that it is acquiring Dublin-based data science start-up Opening.io, which has created an AI solution for recruitment.
Opening.io, which was featured in our Start-up of the Week series in 2017, uses deep learning and natural language understanding to support HR tech vendors, enterprises and staffing agencies in their work. The platform has been used by companies such as Microsoft, CPL and iCIMS.
Cloud recruiting platform provider iCIMS has now revealed plans to launch an AI solution of its own, called iCIMS Talent Logic, which can deliver “speed and precision” for building diverse workforces at scale.
It said that the new platform will be powered by Opening.io and iCIMS’ capabilities to help customers hire in a new way and “stay a step ahead” in a rapidly changing workforce environment.
Terms of the deal were not disclosed.
Opening.io’s tech uses machine intelligence with existing large-scale recruitment processes, such as matching and ranking of candidates in relation to jobs, skills inference, salary recommendations and CV summarising.
Meanwhile, iCIMS provides a cloud platform for recruiting to more than 4,000 customers. The company said that 20pc of these customers are Fortune 100 companies, and that it assists in the hiring of 4m people each year. It added that the launch of iCIMS Talent Logic will leverage Opening.io’s “unrivalled data set”, which contains billions of hiring data points.
Steve Lucas, CEO of iCIMS, said: “I’m excited for our customers to reap the benefits of industry-leading machine learning coupled with an unrivalled data set – including shorter times to hire, lower costs to hire, and identification of the best talent to transform their workforces.
“We’re thrilled to welcome the Opening.io team to iCIMS and launch iCIMS Talent Logic, and more broadly, are excited to demonstrate iCIMS’ position as an innovative leader in AI for talent.”
Andreea Wade, co-founder and CEO of Opening.io, said: “We are elated to join iCIMS and drive further AI innovation that delivers tremendous value to customers. Together we simplify the discovery of jobs and talent, predict the best talent fit, and uncover crucial insights from billions of points of talent and jobs data.”