Investment to Fuel Growth to Meet Customer Demand
Edinburgh, United Kingdom, and Austin, TX June 28, 2023 – The Daxtra Group (“Daxtra”), the leading provider of AI-enriched software for the talent acquisition ecosystem, announced a majority growth investment from Strattam Capital alongside founders and co-owners Andrei Mikheev and Steven Finch. Daxtra will use this growth capital to meet customer demand in North America while continuing to offer high-quality solutions and support to its global customer base.
Daxtra enables its customers to use trained AI to understand and match job specifications and candidates. The company counts among its clients some of the largest recruitment and staffing firms, most critical core systems software providers, and foremost corporations recruiting for complex skillsets and at global scale. Daxtra helped its more than 2,500 clients evaluate more than 1 billion resumes in 40 different languages last year. The full Daxtra software suite includes resume and job parsing, semantic search and match, and workflow automation products – making the lives of recruiting and talent management professionals easier, matching candidates with openings more quickly, and helping great hirers deploy the latest in AI technologies in regulatorily compliant and safe ways. Daxtra integrates with more than 400 different solutions, including leading CRM and ATS packages, job boards, and social networks.
“Our AI-based solutions have revolutionized the recruitment industry, empowering recruiters to work more efficiently, saving valuable time and resources,” said Andrei Mikheev, CEO of Daxtra. “The investment by Strattam will allow us to accelerate growth in North America, while continuing to provide the superior customer service and great products that our customers expect.”
Daxtra was founded in 2002 by Andrei Mikheev and Steven Finch, as a commercial application of their earlier postdoctoral research at the University of Edinburgh in advanced AI concepts across linguistics, neural learning networks and applied mathematics. With decades of combined AI experience, Mikheev and Finch observed that the manual ingestion, structuring, and management of resumes was both a complex data problem and a major business challenge for recruitment firms and corporate HR departments around the globe. Today, Daxtra enables clients to put the power of machine learning, Large Language Models and other emerging AI technologies to work to solve the practical challenges they face in matching candidates with opportunities.
“Whether there are more candidates than jobs, or more jobs than candidates, job hunting has been a hard and time-consuming task for both candidates and employers,” said Jonathan Busch, Principal, Strattam Capital. “We’re excited to partner with Andrei and Steve to help bring their differentiated products to the wider world. Strattam’s mission is to work with great founders who have built great businesses, and the Daxtra team has proven again and again over their 20 years that advanced AI technologies can be harnessed effectively and safely to solve real world problems.”
Daxtra specializes in intelligent recruitment automation, semantic search and match, and multilingual resume and job parsing in 40+ languages. Our technology, built on AI and machine learning, seamlessly integrates with a recruitment ATS or CRM. Headquartered in the UK, we have experience in developing innovative recruitment software since 2002 and support 2,500+ clients globally via offices across Europe, North America and Asia-Pacific.
About Strattam Capital
Strattam Capital invests in founder-led independent B2B software and technology companies across North America. We believe in aligning with founders and CEOs before signing, via our Five-Point Plan process to allow execution with purpose, excitement, and efficiency. Headquartered in Austin, TX, we connect companies with the people, process and scale needed to reach their potential.