Good.co raises $1.3M to use narcissism and curiosity in its attempts to quantify company culture
Good.co's leaders believe that the personalities of both people and companies can be quantified and used to find the best match for job hunters and prospective employers alike. The company's service, which I previously described as the job-hunting lovechild of eHarmony and LinkedIn, uses a variety of personality tests and proprietary algorithms to essentially play match-maker between applicants and recruiters. It's like online dating, except its users are looking to love businesses instead of other people.
The service has attracted more than 60,000 users since debuting as a private beta in April. It's now being released to the public alongside the announcement that Good.co has raised a $1.3 million seed round from Playfair Capital, Talent Equity Ventures, and a number of other investors. The funding will be used to improve the service's underlying technologies, acquire new users, and help the company develop products through which it can actually make some money. And in order to do that, it might just have to look outside its job-hunting beginnings.
Samar Birwadker, the company's co-founder and chief executive, says that a small group of companies will be testing a service that allows them to create better teams within their organizations in early 2014. "We're not just focused on recruiting," Birwadker says. "We're about humanizing the workplace, humanizing the hiring process, and team performance."
It might seem odd for the chief executive of a company whose claim to fame is its purported ability to summarize someone's entire personality in a few numbers and graphs to say that his company is meant to "humanize" employment, but the plan is to make Good.co powerful enough to lend some credence to that claim. In an age when nearly every aspect of our daily lives can be quantified in some way, Birwadker is betting that personality and culture are no less measurable than a pulse or step. And, like any good quantified self service, our inherent narcissism could just be the thing that proves him right.
Good.co allows anyone to sign up, take a simple personality test, and share the result with their friends on Facebook or Twitter. Birwadker says that many users do just that, effectively turning the navel-gazing of those curious to see if an online quiz can capture the sum of their entire being into advertisements for the service. Eventually the company will introduce new features that allow users to provide an unbiased accounting of their friends' personalities, ostensibly so the service can analyze more data but at least partly because that will allow the navel-gazing to attract even more potential users.
This funding round is meant to tide the company over until these efforts lead to products for which consumers and businesses alike might pay. The crowd-sourcing features, as well as other premium features meant for consumers, are expected to debut in the coming months; the team-building tool is expected to exit beta in the first quarter of 2014. The company will tinker with its technologies along the way to continue unearthing new data and using it to learn more about its users with every answered question.
The eHarmony-LinkedIn lovechild is growing up.
[Illustration by Hallie Bateman for PandoDaily]