In the U.S., it costs an average of $4,000 and 52 days for a company to fill an open position, according to a recent Glassdoor report, and one San Francisco–based start-up wants to help speed that process by digging through a company's old resumes.
Software company Restless Bandit created an algorithm that searches for the best-matched candidate within a company's existing pool of applicants. The company has raised $10 million from GGV Capital and Toba Capital.
"We're creating a new category called talent rediscovery," said Restless Bandit CEO Steve Goodman. "We're the first ones to really help companies identify and surface applicants that they already have in their talent universe that may be good for jobs that are currently open."
Goodman sold his previous job search start-up, Bright, to LinkedIn for about $120 million in 2014.