We're excited to announce that we've raised $2m in preseed funding. The round was led by Contrary Capital with participation from Global Founders Capital, the co-founders of Superhuman, Lookout and Thumbtack, as well as a number of industry veterans and angel investors. This funding will help accelerate our mission to transform startup recruiting.
The top challenge for early-stage startups after raising capital is hiring talent. Over half of startup failures are due to the inability to build the right team. Once this initial team is formed, it sets the tone for the quality, diversity, and culture of the company.
Founders typically rely on their own limited recruiting expertise and partner with external agencies and vendors who have the wrong incentives. Without a structured talent acquisition and recruiting process, founders end up with a lower quality, less diverse, less experienced pipeline of candidates who then form their founding team.
The Swarm is the Talent Operating System for startups. Our vision is to allow founders, and later on, their founding team members, to set up their own recruiting engine, configure it, and ultimately run it autonomously and efficiently, saving on time and traditionally high outsourced recruiting costs. With the Swarm, we're giving startup founders a proven workflow and the tools they need to succeed at early-stage recruiting.
The Swarm will assist users through all phases of recruiting, from planning to sourcing, interviewing, and closing. The platform will combine the latest recruiting tech with proven recruiting methodologies, both of which have been out of reach of early stage startups until now.
Our users will be supported by a community of experienced talent leaders. We’re kicking off this community on the Tribe platform, where founders can start accessing resources and useful content around startup recruiting like how-tos, guides, and best practices, ask questions, and get their recruiting on the right track. In parallel, more founders are joining our waitlist every day to be the first to test drive the Swarm with our beta release in the coming months.
Our next round of funding will accelerate this process, increase our marketing efforts and product velocity, and allow us to grow our phenomenal team. We're hiring across many roles and there's an opportunity to be part of something very special. We'd love to hear from you.