Job Applicant Fraud Is Rising. This Startup Is Using AI To Stop It
Today’s job market is filled with AI no matter where you look. Applicants are using it to bypass applicant tracking system (ATS) software in hopes of getting their résumés read by a human. Hiring managers are using it to read through the hundreds, if not thousands, of applications they’re receiving per opening. Fraudsters are taking advantage of it.
One Toronto-based startup, Tofu, is hoping to stop that, using AI to verify applicants’ identity with the metadata behind their publicly available social media profiles. The two-year-old company pivoted last September from a talent marketplace to use machine learning to cross-reference the age of social accounts, posting and liking activity and even the number of LinkedIn connections.
Today, Tofu announced that they’ll be running applicant fraud detection for Gem, an ATS and AI-powered hiring platform, helping companies recruit candidates from sourcing to application and hire. They’ve also announced the close of their $5 million seed round, led by Slow Ventures, which will help them grow employee and customer headcount.
Human resources has always been a human-led industry, says Jason Zoltak, cofounder and CEO of Tofu. “We’re very much........
