August 18, 2022

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Sense, an artificial intelligence (AI)-driven talent engagement and communication platform, said it has raised $50...
Sense, an artificial intelligence (AI)-driven talent engagement and communication platform, said it has raised $50 million in new funding led by SoftBank Vision Fund II. Post this funding, Sense is valued at around $500 million, people aware of the matter said. ET first
reported in its December 6 edition that SoftBank was in final stages of talks to invest in Sense amid a flurry of deals in the Software-as-a-Service (SaaS) companies like Chargebee, Innovaccer, among others.

Sense, uses automation and artificial intelligence, to hire blue and grey-collar workers for companies looking for such kind of workforce.

An increasing demand for such jobs has led to Sense working with around 600 customers, the company said in a statement on Monday. Its customers include firms like Sears, Dell, Adecco, Kindred Healthcare.

With this, the San Francisco and Bengaluru-based firm has raised $90 million in total. Avataar Ventures, Accel and GV–formerly Google Ventures, are among its existing investors. In June this year, it had raised $16 million led by Avataar Ventures.

“Our latest funding is not only validation of the need for personalised talent engagement in today’s candidate-centric world but is also an accelerant for our platform globally as we help reshape the future of work,” said Anil Dharni, CEO, Sense.

In a statement, the company said it will continue to ramp up its go-to-market strategy and increase awareness with companies that hire at scale across rapidly growing industries including healthcare, manufacturing, logistics and retail. Sense will also begin investing in international expansion in high-growth regions like Western Europe, it added.

“We have tracked Sense’s growth and product innovation amid one of the most transformative years in the talent landscape. Powered by AI, the Sense platform aims to help companies manage the entire talent lifecycle which is of utmost importance in today’s competitive environment,” said Munish Varma, managing partner, SoftBank Investment Advisers.

Sense said it has achieved a record year of business growth with its revenue more than doubling. It did not disclose its revenue. The company has seen its employee headcount double and its enterprise deal size has also increased by 70% besides its net retention rate exceeding 130% now.