Plum, the Waterloo-based startup that uses AI to help organizations hire and retain talent, has raised a $4.2 million ($5.57 million CAD) seed round.
This raise comes as Plum has shifted focus within the last year from talent acquisition to now offering tools to help companies understand and make predictions about their entire workforce. Plum is also focused on offering those services exclusively for large enterprise customers, rather small-and-medium-businesses (SMBs).
The round was led by Real Ventures with participation from BDC Capital’s Women in Technology Fund, and SAP’s venture fund SAP.iO. The seed funding brings Plum’s total funding to date to $6.1 million USD ($8 million CAD), with the previous financing coming from Plum’s angel investor round.
Plum works closely with SAP and integrates with SAP SuccessFactors, the company’s cloud-based human resource management system. MacGregor explained that the shift in focus was directly related to that partnership, and becoming a SAP.io portfolio company. She noted that SAP encouraged Plum to use its predictive AI to help address the needs of current, as well as incoming, employees.