Canvas bags $ 50 million funding to provide various talent recruitment solutions

The platform also launched “Canvas Diversity Analytics & Benchmarking” to provide businesses with detailed insight into data and track progress in real time.

Canvas, a San Francisco-based recruiting platform, raised US $ 50 million in a Series C funding round, bringing its total valuation to US $ 400 million.

The funding round was led by Owl Ventures and saw participation from Zoom Apps Fund, Sequoia, Lachy Groom, BAM Elevate, HighSage Ventures and Fifth Down Capital.

With the newly injected capital, Canvas aims to expand its product to other industries and verticals outside of the tech space and invest in R&D to develop the platform’s ideas and recommendation solutions.

Led by CEO – Ben Herman, Canvas has evolved into a diversity recruiting solution to hire diverse teams. Companies such as Airbnb, Headspace, Lyft, and Dropbox have embraced Canvas to understand different aspects of their recruiting pipeline, run engaging virtual events, find talent, improve the employer brand, and measure the ROI of their various recruitment efforts. recruitment.

Jenny Wang, Principal at Owl Ventures, said Canvas offers industry-leading recruiting solutions that are revolutionizing the way organizations recruit diverse talent today. Using self-reported data will help Canva deliver new services in today’s recruiting world, she added.

Along with fundraising, Canvas has also introduced a new product, “Canvas Diversity Benchmarking and Analysis,” which enables companies like Airbnb, Lyft, Roblox, Pinterest and Bloomberg, and many more, Access in-depth data insights and diversity benchmarks, enabling hiring teams to identify bias, uncover diversity disparities, and track progress in real time.

In addition to the above, the product allows companies to gain visibility in their diversity hiring metrics compared to companies in the same industry.

With this new solution, recruiters can see how their rates top, based on gender or ethnicity from the analytics dashboard, and prioritize equity efforts to help meet hiring goals by diversity.

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