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We've raised a $10 million Series A from Initialized Capital

By Triplebyte on Feb 28, 2018

We've raised a $10 million Series A from Initialized Capital

We started Triplebyte because we were frustrated by the noise present in every step of the hiring process. It begins with looking for keywords on a resume and ends with making gut call interview decisions. The result is companies missing out on hiring great people. Our goal is making hiring more scientific by using objective skills data to match people with companies. We believe the best people should work at the best companies, whatever their background.

And we're really excited by the progress we've made towards that goal. Tens of thousands of engineers have now started their search for a new company through Triplebyte and they're going on to see success in finding great new companies to join. Over $100 million worth of job offers have now been made on Triplebyte and it's picking up quickly. $50 million of those were made in the last 6 months.

Over 300 technology companies are using Triplebyte for hiring. Our customers include top technology companies like Dropbox, Coinbase, Instacart, Opendoor, Niantic Labs (creators of Pokemon Go) and Cruise Automation.

To help us keep building on this momentum, we're excited to announce we've raised a $10 million Series A led by Initialized Capital. We had strong participation from our existing investors Caffeinated Capital, Jessica Livingston, Paul Graham, Emmett Shear and Kyle Vogt. We're thankful for their support and backing since the beginning.

We're also welcoming some new investors in the round including Marissa Mayer (former CEO Yahoo and VP Product Google) and Xavier Niel (founder of French ISP Iliad and the coding school 42). They've both run companies and built teams at scale. They deeply understand the challenges of hiring and that's why we're excited to have them on board.

We're using the funding to invest in building out our engineering, sales, account management and marketing teams. We'll be launching support for new types of roles - the most requested being DevOps and Machine Learning engineers. We'll also be expanding to support engineers and companies in new locations. The net result is helping more great people find their ideal next company to join.

What especially excites us about our growth is the data we're acquiring. We're now evaluating the skills of over 5,000 engineers per month. That's using a combination of our programming quiz and a virtual technical interview run by a Triplebyte trained Technical Interviewer. The interview is run using our custom interviewing software, which lets us capture structured and deep data from each interview. We're now running interviews at a scale that's equivalent to a company that's hiring 1,000 engineers per year while collecting rich, structured data we can use to keep optimizing our screening.

In 2017 we made a big leap forward in improving the accuracy of our skills testing. As our scale has gone up, we've been able to test more and more types of interview questions. And we've now reached the point where our automated assessment substantially outperforms human interviewers at evaluating technical skill.

Ultimately our mission is building the most efficient way to hire the best people from any background. By building an objective, skills-based hiring platform we have potential to create a huge change in the technology industry. In a world where hiring becomes a true meritocracy of skill, people can focus on finding what they enjoy doing and becoming really good at it. That's the world we want to live in.



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