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While there is a huge amount of data available to HR and Talent Analytics Today, most organizations are still not reaping the rewards of their investments in analytics. Gartner Reports Only 21% of HR leaders agree that their organizations effectively use talent data to shape talent acquisition and recruitment strategies, improve employee engagement and inform other business decisions. As the report notes, more data isn’t being converted into more actionable insights for many businesses.
But, my article — an Israel-based company that aims to enable hiring managers to take advantage of video to pre-screen candidates at scale — says it has developed a platform that captures, plays, and interprets videos created from candidates answering pre-set questions.
MyInterview was founded in 2016 by Benjamin Gillman, CEO and Guy Abelsohn CPO, who believe that traditional resumes are quickly becoming obsolete. company used Artificial intelligence (AI) and machine learning (ML) to ensure rapid and efficient recruitment of HR teams across the organization and the mass market.
Gilman told VentureBeat that MyInterview helps employers save up to 70% of their hiring time, providing them with the ideas they need to hire the best fit for their open roles. He noted that MyInterview’s video interview platform allows employers and job seekers to meet much sooner in the employment path. MyInterview is keen on enabling organizations to meet people, not resumes.
Fast Tracking of the Recruitment Path with AI
Most of today’s hiring paths are long, uncompetitive processes, Gilman said. Instead, he noted, MyInterview’s mission is to create short, effective recruitment paths because it’s best for everyone.
The company uses ML technologies for video interpretation, video capture, compression, and delivery across various internet persistences. Gilman said the AI component of MyInterview extracts information from videos using these two models:
- An NLP/text analysis model that identifies keywords and phrases that correspond to a personality’s different tendencies.
- An ML-trained database of tens of thousands of interviews, with each interview rated by a team of four different behavioral psychologists based on specific criteria.
Gilman noted that it is necessary to use these models because there is a huge amount of data along the hiring path that organizations often miss by focusing only on candidate resumes. There’s more to a candidate’s resume, and our platform helps recruiters collect data they wouldn’t normally get on paper, he said.
He noted that companies can get much more data from a casual person speaking in a video than from text and other data models. According to Gilman, videos allow for better expression, rather than the standard elements included in a resume.
“Through our platform, job seekers can apply for jobs in record time. The platform also allows employers to get answers to candidates faster. More people are considered and less time is lost. Recruiters also have more time to build relationships,” Gilman said. They are safe from administrative bottlenecks with follow-up and non-attendance processes.”
MyInterview analyzes each video interview to verify soft skills, personality traits and keywords that enable organizations to select candidates who align with their culture, vitality, and goals – all while minimizing the risk of bias or human sentiment. According to Gilman, the company’s training data currently includes about 30,000 coordinated interviews.
Gilman said that one of the advantages of MyInterview over other players in the industry is in its position to serve not only businesses, but also the mass market, such as large online job boards.
Other tradeoffs, according to Gilman, include the company’s own filtering and search model, collaboration tools, and one of the largest integration markets. MyInterview’s automated shortlisting capabilities enable recruiters to uncover talent that would otherwise be overlooked — a feature Gilman said no one currently offers in the market.
Software comparison and product review platform G2 show that MyInterview is currently strong competition In Spark Hire, Jobvite, TestGorilla, CodeSignal, and Workable.
Business model and outlook
MyInterview is a subscription-based B2B software-as-a-service (SaaS) platform, with plans ranging from free to $329 per month. Company plans include interview volume and feature availability. MyInterview clients include Marriott, Meta, Billable, Agoda, McDonald’s, and more.
Since its inception, MyInterview has raised a total of $6.2 million from investors such as Alef, Entrée Capital and SeedIL, among others. Having just welcomed the new COO of Amalia Bercot, who founded SendinBlueMyInterview is looking to further build its team as the company continues to integrate with other solutions across the industry.
“MyInterview achieved 120% year-over-year growth last year, and is on track for further growth this year,” Gilman said.
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