X0PA AI, a leader in AI-powered objective hiring solutions, today announced $4.2 million USD in Series A funding.
The investment was led by ICCP SBI Venture Partners (ISVP), with additional funding from SEEDS Capital, AI8 Ventures, XCEL NEXT VENTURES, and SASV Investments.
The new funding comes on the back of significant growth into new markets and the launch of trailblazing inclusive hiring innovations.
Now more than ever, organisations are looking to increase diversity in their workplaces and reduce bias, while lowering the time and cost to hire the best talent.
X0PA’s intelligent hiring solutions are designed to maximise objectivity in talent selection and leverage automation to empower candidates and employers to get the most equitable and desirable hiring outcomes.
Recruitment and selections can have significant bias, inequity and inefficiencies. We are looking to change the game in equitable hiring and selections by reducing unconscious bias and subjectivity leading to more diverse workplaces and better selection outcomes. We also want to continue to capitalise on our sophisticated algorithms and intelligent automation to make the entire process efficient hence saving considerable costs and time while ensuring the ideal match between the employers and candidates.Nina Alag Suri, Founder and CEO of X0PA AI
X0PA offers a range of ethical AI-powered products, developed on Microsoft Azure, that look to reduce manual recruitment and selection processes, increase inclusion, and solve people sourcing problems for enterprises, academia and government.
Market-leading patented algorithms, Machine Learning (ML) and Robotic Process Automation (RPA) are at the centre of powerful products that enable sourcing, screening, and interviewing of candidates at scale.
The new round of funding is led by ICCP SBI Venture Partners (ISVP), a joint fund between two of the oldest operating VC firms in Asia.
ISVP’s seasoned partners and advisors from the Philippines, Japan and Silicon Valley invest in rapid-growth technology companies from Asia and the US.
ISVP’s Managing Director, Miguel Encarnacion, has been focusing on the Future of Work, with X0PA being his 6th investment in the vertical over the last 3 years.
“Advancement of technology and computing power has paved the way for the use of big data and machine learning as a means of minimizing cognitive biases in hiring. In the process, a lot of previously undiscovered, or underestimated, talent pools can now be accessed. X0PA is solving the talent bottleneck by utilizing AI to find highly talented outliers that do not necessarily fit regular profiles. More importantly, they are leading the way in building a more equitable future of work. We are proud to help them continue building on a powerful, cost-saving platform that optimises recruitment operations while having an important social impact.Miguel Encarnacion, Managing Director at ISVP
In its home base in Singapore, X0PA also secured funding from SEEDS Capital, the investment arm of Enterprise Singapore.
X0PA, a strong Microsoft partner, plans to use the capital for global expansion beginning with Asian, US, Latin American, and European markets.
This will include investments in the company’s go-to-market strategy and teams. Additionally, the newly secured funding will help support product enhancements and innovation to continue to outpace competition in the maturity of AI models.