excelHERate

excelHERate enables companies to hire a diverse workforce at scale. Legacy recruiting methods lead to companies missing top talent with great potential. excelHERate is used to strengthen sourcing and screening by identifying and presenting candidates in an unbiased, skill-focused format.

We have a working beta that utilizes deep technologies including Natural Language Processing, AI and Machine Learning and Design Partners in the US that are using our product to streamline their screening processes identify candidates that may otherwise have missed. We also have a number of sourcing partnerships to onboard potential candidates as we continuously build our diverse database.

The HR cloud solution market is $148B. Our segment of search and placement services is $24B.

We are currently targeting tech companies with 200-3000 employees and our technology excels with roles that require 3+ years experience until director level.

Demand side:
Good hiring is essential for success, but it’s really difficult. It is inefficient and ineffective (untapped value). There process is also filled with unconscious bias biased which leads to companies missing out on excellent candidates

These same problems holding back talent exact a huge cost on the supply side – the candidates

Bottom line - Huge amounts of untapped, unrealized value that existing solutions can’t unlock

Excelherate’s solution allows our customers to see who the candidates really are, not just skim their CVs.

Our technology screens candidates based on the job description and focuses on skills.

Smarter: Removes bias, enhances skill-matching, identifies hidden value, customized to company
Transparent: Explainable, standardized, comparable profiles
Streamlined: More qualified diverse profiles faster, improve internal processes
Richer: Mining broader data sources

There are a number of tools that assist with hiring such as LinkedIn and Applicant Tracking Systems (ATS) as well as professional search firms. We integrate with ATSs and Search Firms are among our clients. In regards to other platforms that use AI to screen like HiredScore, they are build in a way that assumes what worked in the past will work in the future - this is the opposite of how we think at excelHERate.

The Diversity Hiring Tech market is new with the majority of significant funding taking place recently supporting the fact that the market is still in its infancy and there is room for a market leader. Interest in DiversityTech has grown exponentially recently and there is more budget from companies becoming available for these type of technologies.

1. excelHERate is completely explainable. The profiles we generate show exactly why each candidate has been selected based on whitebox AI
2. Not only do we remove bias we also focus on skills, not pedigree so recruiters can make more effective hiring decisions
3. We are a diversity first company so all machine learning and AI is built inhouse without external code that may have hidden bias
4. Our training set of data is based on a broad and inclusive representation of society

The business model is a SaaS per-seat model estimate between $300-$350/user depending on company size. Our target ARR at the end of year 3 is $11M.

The GTM strategy is based on a free trail with basic functionality that converts so a SaaS per-seat model after 1 month. We are currently implementing a content marketing strategy based on thought leadership but have 3 main focuses as we prepare for a full launch:
1. Bottom up - Candidate partnerships with existing communities of potential diverse candidates (like Women Who Code)
2. Thought leadership through Diversity Council to establish legitimacy and continue to develop the product based on true needs of various diverse communities.
3. Diversity Pledge for companies to join

50% R&D
40% Sales & Marketing
10% Admin

The lead investor will dictate the terms but we prefer a SAFE

The HRTech space is very competitive with lots of noise. excelHERate's technology not only saves time but by enabling diverse hiring at scale, we make the company better bringing in the value of diversity.

We are a MassChallenge Israel finalist. The program is still going on

This is our first competition