Investment Memos

Investing in Journeyfront

Helping companies more accurately hire the right people for the right jobs

14th January 2022

Hiring is a complicated set of decisions subject to myriad opinions and typically made with little data. Recruiting managers spend time trying to find and hire the best candidates based on rigid and unproven factors; many hires underperform, clash with company culture, or leave prematurely. The cost of a bad hire is 2-5x annual salary, but the inertia of the status quo keeps many from actively searching out a solution.

Journeyfront’s mission is to unleash the potential of the world’s workforce by helping companies more accurately hire the right people for the right jobs. It uses customer-specific data to identify candidates that are most likely to succeed and find satisfaction in their roles.

Recruiters use Journeyfront’s insights to improve their sourcing processes and fine-tune their selection methods. Customers are provided with a variety of customizable assessments to learn more about the candidates and the skills they bring. More recently, Journeyfront has expanded its product to help customers create structured interviews which promote consistency and enable invaluable data collection. Once hired, additional employee performance data is collected to determine correlation with original interview results and establish feedback loops. These feedback loops reveal to hiring companies what they need to look for and do to secure the best talent. Journeyfront integrates with all major Applicant Tracking and HR Information systems.

Job profile for sales rep in the US

Daniel Ash, Journeyfront’s Co-founder and CEO, has leveraged learnings from his time in consulting and private equity in building a world-class team. Given the product expertise of Nick Lyon, Mike Margett’s technical know-how, and Erik Porfeli’s background in research, Journeyfront has the capability to scale and solve the problem.

Customers are witnessing meaningful results in their hiring and recruiting efforts ranging from shortened time to hire, improved hiring accuracy, and a higher overall employee satisfaction. Freedom Financial, for example, saw a 27% decrease in short-term turnover and a 31% increase in associate performance. As data is aggregated and processes refined, Journeyfront is moving toward the potential of full automation of high-volume hiring. We believe in Journeyfront’s vision of a more data-driven, equitable hiring process and are excited to be its partner.

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