The concept of “Agentic AI” is currently dominating the tech landscape, with developers racing to integrate generative AI into various industries, and investors eager to back the most promising innovations. Perfect, a new startup based in Israel, is one of the latest companies to receive substantial funding in this sector, as its platform improves hiring processes using AI-based solutions. The firm has managed to raise $23 million in seed capital to develop its platform further and increase its coverage.
A New Recruitment Approach with AI:
Perfect is meant to serve as a co-pilot for recruiters, helping them craft job descriptions, identify the most suitable platforms to list openings, and effectively handle applicant responses. The platform competes with traditional tools from firms such as LinkedIn, Indeed, and Recruiter, as well as integrating with current recruitment systems to enhance their functionality.
Perfect’s AI technology saves recruiters as many as 25 hours per week, making them very efficient. In one year since it was started, the company has seen high growth with its client roster growing from an initial 20 companies to more than 200. Fiverr, eToro, McCann, and Coralogix are some of the big firms that are using Perfect’s technology to streamline their hiring.
From Facial Recognition to AI Recruitment:
Perfect was founded by Eylon Etshtein, best known for launching Anyvision, a controversial facial recognition startup that later rebranded and was eventually acquired. Etshtein’s inspiration for Perfect stemmed from his hands-on experience hiring at Anyvision, where he realized that scaling the recruitment process manually was unsustainable.
With his background in AI, Etshtein had the idea of creating a smart recruitment platform that could automate the recruitment process based on data-driven information. The idea was to build an AI system that could search for the ideal candidates quickly, much like how facial recognition systems can locate specific people in enormous databases.
Following his departure from Anyvision, Etshtein focused on recruitment technology to address inefficiencies in the hiring process. His background in AI-based solutions has made Perfect a leader in the emerging market of AI-powered HR tools.
What Makes Perfect Unique?
The AI hiring space is extremely competitive, with many startups creating solutions to make hiring better. But Perfect stands out by developing its platform from scratch, instead of using third-party Large Language Models (LLMs).
As opposed to several competitors who use integrated LLMs like ChatGPT, Perfect has built its own in-house proprietary AI model that has been trained on vector-based datasets acquired from third-party recruitment websites. By doing this, Perfect can carefully curate and clean data to make better predictions with increased accuracy.
“When we started Perfect, ChatGPT didn’t exist,” Etshtein explained. “There was no architecture available that could accurately analyze career trajectories, understand past experiences, and predict future career paths. That’s why we built our system from scratch.”
Etshtein further pointed out that LLMs are challenged to work with vast amounts of structured hiring data and therefore remain inefficient for specific hiring uses. Perfect’s model, however, works with highly detailed candidate records, enabling recruiters to make knowledge-based decisions with the help of annotated insights.
Funding and Investors:
Perfect’s $23 million funding round has been structured in two parts:
- An equity investment of $12 million from Target Global, RTP Global, Pitango, and other early backers, was raised approximately a year ago.
- An interest-free SAFE note, convertible to equity in a future round, from Hanaco Ventures, Joule Ventures, and Young Sohn (former president of Samsung and a board member at Arm).
Investor Confidence in AI-Powered Recruitment:
The recruitment sector has been in desperate need of genuine innovation for years, with most processes depending on legacy manual workflows or half-baked AI tools. Perfect is viewed by investors as a huge disruptor in this market.
Lior Prosor, Hanaco Ventures partner, showed firm belief in the startup and said:
“Perfect is utilizing proprietary datasets and integrating AI into industry-specific workflows to completely transform how recruitment operates. By automating a significant portion of recruiters’ daily tasks, the platform is delivering real, measurable impact.”
With inefficient hiring processes affecting companies globally, the need for AI-based “smart hiring” solutions is growing fast. Perfect seeks to fill this gap by automating candidate sourcing and selection, rendering the recruitment process more accurate and time saving.
The Future of Perfect: Enlarging AI Tools for Job Applicants
In addition to enhancing its AI hiring platform, Perfect is growing its offerings to job applicants. The company is creating a free tool that will assist candidates in optimizing job search tactics, resume targeting, and application procedures.
Not only does this enhance the job application process, but it also gives Perfect more data, which can be used to enhance its AI models for recruiters.
A Competitive Market with Room to Grow:
The AI hiring market is filled with competitors such as LinkedIn, HiBob, Workable, Maki, Mercor (worth $2 billion), Tezi, and SeekOut—some of which have seen both explosive growth and layoffs. Despite this competition, Perfect’s proprietary method of AI-based hiring makes it a formidable player in the market.
Based on a solid funding base, a rapidly increasing customer base, and an AI-powered hiring model, Perfect has the potential to reshape the way businesses acquire and hire workers in today’s workforce.
For more insights and updates on Metaverse, DeFi, Blockchain, NFT & Web3, be sure to subscribe to our newsletter. Stay informed on the latest trends and developments in the decentralized world!
