DUBAI – SocialDice, a regional startup that offers an innovative digital hiring solution for SMEs in MENA, announced that it recently closed a second round of investment from regional and global venture funds 500 Startups, Sadara Ventures and Raed Ventures. The Company’s other investors include Zahi Khouri and Oasis 500.
“500 Startups is excited to announce our investment in SocialDice, our first Palestinian startup. SocialDice has already shown traction in the UAE market, and we believe they have terrific potential for future growth and disruption in the talent management industry.” – Dave McClure, Founder of 500 Startups
SocialDice aims to solve the numerous recruitment challenges routinely faced by countless companies. According to Founder/CEO Saed Shela, the recruitment industry globally has been revolutionized by the introduction of various technological innovations, but that has not yet happened in the Middle East, where the recruitment process remains exceedingly tedious. The many recruitment agencies and candidate tracking systems (ATSs) are too expensive for small to medium-sized companies.
“Building a great team is hard, but it is core to starting or growing a great company. SocialDice is helping businesses everyday recruit and hire top candidates at maximum efficiency. Our decision to invest in SocialDice was based on our belief that their solution is going to be indispensable to any company who’s serious about winning.” – Saed Nashef, Founding Partner at Sadara Ventures
The process of recruiting employees for job openings in a company, is time consuming, repetitive, and highly inefficient. “I experienced first-hand the pain of recruiting in my previous company, when I needed to urgently fill a technical position,” said Shela. “The job requisition was placed on several job portals and social media outlets such as Facebook and LinkedIn. Within several days, my email box was flooded with hundreds of CVs – I had to juggle between emails and job sites, and ended up conducting interviews only to find out that very few of the applicants really fit the job.”
Shela was determined to apply a technological solution to automate the hiring process, making job requisition placement, CV aggregation, and relevant candidate discovery seamless and efficient.
SocialDice combines artificial intelligence technologies and partnerships with existing job sites, along with other features in a digital SaaS solution that helps companies recruit employees in an easy, smart (and even fun) way.
How It Works
SocialDice’s platform enables employers to maximize their reach for suitable talent by posting job descriptions to multiple job sites, including LinkedIn, Bayt, and Monster, with just a few mouse clicks.
“The SocialDice team created a product that might be one of the most significant in the field of recruitment. While SocialDice does use highly complicated algorithms, the service works to maximize simplicity, accuracy and speed in the recruitment process.” – Omar A. Almajdouie, Founding Partner at Raed Ventures
Using SocialDice’s unique artificial intelligence (AI) technology, customers can quickly drill down to the most relevant candidates. The technology analyzes sentences rather than keywords and compares the candidate’s skills and experience against the job qualifications, extracting key candidate career insights such as loyalty, career gaps, and other KPIs.
SocialDice’s extensive automation enables employers to manage the entire hiring process from a single dashboard, to seamlessly conduct interviews, collaborate with their hiring teams and build meaningful relationships with candidates.
Companies no longer need to independently post on numerous job sites, go through thousands of CVs, or manually contact all applicants. SocialDice does it all for them, within seconds.