Canvas bags $50Mn funding to offer diverse talent hiring solutions

The platform has also launched ‘Canvas Diversity Analytics & Benchmarking’ to offer companies detailed data insights and monitor progress in real-time

Canvas, a San Francisco-based recruitment platform, has secured USD 50 million in Series C funding round, bringing its total valuation to USD 400 million.

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

With the newly injected capital, Canvas aims at expanding its product into other sectors and verticals outside the technology space and making investments in R&D to develop the platform’s insights and recommendation solutions.

Headed by CEO- Ben Herman, Canvas has emerged as a Diversity Recruitment solution to hire diverse teams. Companies such as Airbnb, Headspace, Lyft, and Dropbox have adopted Canvas to understand the different aspects of their recruitment pipeline, host engaging virtual events, source talent, improve employer brand, and measure the ROI of their various recruiting efforts.

Jenny Wang, Principal at Owl Ventures, was quoted stating that Canvas is offering best-in-class recruiting solutions that revolutionize the way entities today hire diverse talent. The use of self-reported data will help Canva offer novel services in the modern-day recruitment world, she added.

Along with raising funds, Canvas has also introduced a new product- ‘Canvas Diversity Analytics and Benchmarking’, that allows firms like Airbnb, Lyft, Roblox, Pinterest, and Bloomberg, and many others to access in-depth data insights and diversity benchmarks, permitting hiring teams to identify biases, uncover diversity disparities and monitor the progress in real-time.

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

Through the novel solution, recruiters can view how their top-of-funnel fares, based on gender or ethnicity from the analytics dashboard, and prioritizes equity efforts to help achieve diversity hiring goals.

Source Credit: https://www.prnewswire.com/news-releases/canvas-announces-24-million-series-b-to-revolutionize-drywall-in-the-construction-industry-with-the-first-collaborative-robotics-solution-301269451.html