Reejig, which works by strengthening a company’s talent pipeline and unlocking the power of their talent data, will use the funding extended by Australian venture capital outfit Right Click Capital and Arun Krishnankutty from OMKA Group to scale its next-generation Software as a Service (SaaS).
In announcing the news, CEO and co-founder of Reejig Siobhan Savage opined that the benefits data and AI are bringing to the professional workforce are phenomenal.
“What’s unique about our product is the fact that it’s been developed while working alongside our customers — our core focus is to ensure our technology meets their evolving, complex needs when it comes to people management,” Ms Savage said.
“We are extremely pleased to have supportive investors who share our vision of enabling businesses to be more effective in how they manage their workforce.”
The one-year-old company connects existing HR systems, cleanses and aggregates talent data, unifies data from across the entire enterprise and applies gender-balanced boost algorithms.
It also provides predictive intelligence and personalised actionable insights to companies on gender bias, where talent is sourced from, movements of competitors’ talent and referral connections.
“The future of work is radically changing how companies manage talent and the pace of change is accelerating year-on-year,” Ms Savage said.
“Labour shortages are increasing and competition to secure the best talent is brutal. Automation and AI technology such as Reejig are critical components in helping companies to design the workforces of the tomorrow, today.”
She explained that Reejig’s customers included global private enterprises, governments and academia.
“We target these groups specifically as they have some of the most complex workforces and they are at the forefront of the future of work.
“Our technology has helped our customers maintain stronger talent pipelines, reduce the time and cost of hiring, integrate disconnected systems, and considerably improve staff mobility, productivity, retention and succession.”
Partner at Right Click Capital Garry Visontay acknowledged that Reejig will be key in solving the complex future of work challenges that large enterprises and governments are facing.
“We believe the company will quickly become a leader in the HR technology space and we see the team’s solution as having global scalability,” Mr Visontay said.