Pin, an AI-powered recruitment platform based in New York, has raised $3 million in seed funding led by Expa Ventures to enhance its product development and market reach. Launched just 40 days ago, Pin aims to revolutionize the hiring process by significantly reducing time-to-hire through advanced AI matching capabilities.
The platform claims to analyze over 100 million profiles simultaneously, achieving a 70% candidate acceptance rate, compared to traditional methods that often yield only 10 to 11 acceptable candidates from 25 searches. Pin's technology can shorten typical hiring searches from 60 days to just two weeks.
CEO Steven Lu highlighted that the company utilizes proprietary models rather than off-the-shelf AI tools, allowing for precise candidate matching tailored to recruiters' needs. This funding comes at a time when many companies express dissatisfaction with their current recruitment processes, with 47% reporting issues with time-to-hire metrics.