In Tel Aviv startup that uses AI agents for automation of HR processes such as onboarding and compensation raised $24 million in funding.
Shapes’ HR platform essentially offers an app store of AI-powered HR tools.
“This means you can manage your employees your way. You can install different apps and agents to do the work for you,” Arnon Nir, co-founder and CEO of Shapes, told Business Insider.
For example, an AI agent can proactively notify a member of HR that an employee is at risk of leaving, based on data such as low salary, high performance and recent absences.
The startup’s AI agents can automate other workflows, such as payroll or contract drafting, based on prompts from HR staff. Employees can use the platform for HR tasks such as booking leave and also request information from AI agents, including details about company policies.
Shapes, renamed DreamTeam, was founded in 2020 by Nir and Shirley Baumer, who were previously founding members of HR technology company Monday.com.
In addition to the App Store-like structure, which the startup calls “PeopleOS”, customers can create their own bespoke apps on the platform using prompts, similar to ambiance coding.
Shapes says its modular design can help businesses scale with the size of their workforce. fluctuates in the AI era.
“Every company has to rethink its structure, its people, its culture. And every company has to kind of start from scratch,” Baumer told Business Insider.
The HR technology market is highly competitive, with a growing number of players, such as working day And HiBob — integrate AI into their solutions. Nir said the modular nature of its software is one of its competitive advantages.
“Every business operates differently. You want to give them the power to decide what they want to use,” Nir said.
Shapes claims to have “hundreds of customers” located in 79 countries and spanning 14 industries, including retail, manufacturing and technology. Its clients include Quantum Machines, NextSilicon, Healthee, Arena Entertainment and Imagen, according to Shapes. It operates as a software-as-a-service business model, charging a flat rate per company employee.
The funding includes a $15 million Series A round, closed in October, and a first-of-its-kind seed investment of $4.5 million, as well as a $4.5 million seed extension. The Series A round was led by Ouverture Capital, with participation from NFX and F2 Venture Capital, which led the seed round.
Shapes said it would use the funding to more than double its workforce over the next year and expand into new markets.
Here’s an exclusive look at the 10-page pitch deck that Shapes used to raise $24 million.