From AI Product Tools and Trading Services
Respondents: Shenzhen Hao Intelligent Co., Ltd.
Respondent: Founder & CEO Li Songyi (Larry)
Company’s website:https://www.belloai.com/index.html
Previously reported: “From smart recruitment to digital talent management, “Bello Biro” received linear capital leadership Tens of millions of RMB Pre-A round financing
Q0, what is the current situation of the company?
One sentence positioning: Bello is an artificial intelligence technology company that provides talent solutions.
Main business: Bello Biro combines the underlying technology of Chinese and American artificial intelligence, applying NLP (Natural Language Processing Technology), KG (Workplace Knowledge Mapping) and RPA (Recruitment Process Automation) technology to recruitment, providing talent management for enterprises. Intelligent solution.
Main products and customers: Our current products are divided into two categories. The first category is the underlying technology, such as core technologies such as knowledge maps, parsers, and person-to-person matching. These products are aimed at large companies that have high requirements for recruitment systems and are forward-looking for intelligence. Like Tencent, Ping An, today’s headlines, Huawei, SF, etc., are our customers. The second is the SaaS product, called Biro. This product is relatively new, it has only one role: to help companies accurately find the right candidate, which is AI Candidate Sourcing. It starts with the formation of recruitment requirements, and publishes to various platforms, eventually forming a long list for customers. Biro is mainly targeted at small and medium-sized enterprises with low budgets and limited technology. At the same time, we also have upstream and downstream cooperation with ATS. After we find the candidate, we will import the list to ATS, such as Mocha, Beisen, etc., and they will complete the follow-up process. This product will be the focus of our future development.
Annual revenue: This year we will have more than 10 million yuan in income.
Financing situation: Four rounds of financing have been completed by first-line investment institutions, and A round of financing has been completed.
Q1, 2019, What progress has the company made in technology, products, market, commercialization, financing, and team?
Technology: Our technology has been extended from the United States and has undergone three years of iteration in China. In 2019, we mainly completed a refactoring. The core is to make the machine intelligence of natural language processing become more explanatory and analytical. Through this NLP refactoring, the underlying understanding logic of natural language understanding technology is revealed.
Products: In 2019, we extended the new SaaS product – Biro. Help them find the right candidate quickly at a price that SMEs can accept.
Financing: In 2019 we completed two rounds of financing, now to the A round.
Team: In 2019, we opened a new office in Beijing, but the number of teams did not increase, focusing on improving the overall level of the team.
Q2, 2020, what new developments may the company have in terms of technology, products, market, commercialization, financing, and team?
Technology: So far, NLP is an area where AI has not broken, and there is no reliable landing. In 2020, we will work hard to bring this technology to the forefront of recruitment. Although the scene is vertical, it can bring great value. So we hope to continue to accelerate next year.
Products: As mentioned above, our current two types of products are now very stable. Then in 2020, we will recruit relevant talents in direct sales and channels to promote products together. At the same time, it will also cooperate with the outside world, including cooperation with ATS and recruitment websites. We hope to form a more open mutual assistance with the entire industry and work together to make the recruitment industry bigger.
Financing: In 2020, it is expected to complete another 1-2 financing.
Team: The team size will remain within 100 people. At the same time, we will open a new office in Guangzhou, Shenzhen and Shenzhen.
Q3, 2019, the three things that have the greatest impact on the industry in the industry?
The first thing, a company that specializes in data was caught, and data security is definitely the top priority in the industry. We have attached great importance to data security from beginning to end. For this reason, we have also prepared ISO27001 and the third level of protection, insisting on using strict technical means to isolate data. Most customers we will pickWith private deployment, physical isolation ensures that data security remains in the customer’s own server, making the information 100% secure.
Another big event is the joint release of the major recruitment websites to block the ATS. Although ATS is convenient for customers, it does cause some damage to the recruitment website. So we are also thinking about how we can use technology, on the one hand, not to harm the interests of the recruitment website, and even help to recruit websites, while at the same time allowing customers to get better convenience. This is the logic of our product design.
Q4, 2020, what are the major events and trends that will occur in the industry and the direction of the subdivision?
We believe that the development of the industry and the company in the future cannot be copied from foreign models. We should continue to help each other and deepen our efforts to make products that truly meet the needs of Chinese users.
Overview of the changes in the US and China’s to C industry, it is easy to copy the US to C company directly to China, because users are C-side, individual, and the difference is not big. But the difference between a group of Americans and a group of Chinese is huge, that is, the difference between organizations. Organizations have raised the complexity of people from many dimensions, so it is not feasible to copy the US to B products to China.
It is necessary to build products with Chinese characteristics that are in line with the development of the Chinese era. What Chinese customers want is a turnkey service in the entire industry chain. It is a value chain that is connected by many mature value points. Therefore, we can be sure that the future industry will inevitably open up cooperation, rather than the closed state of China’s human resources industry. We will do our own technical value, and we will do our best to connect their value points with other organizations. For example, ATS, headhunting companies, recruitment websites and other HR service companies mentioned above form a value chain to provide customers with better full-process services.
Q5, 2020, what kind of competition pattern will the industry in which the company is located, and what is the most important competitiveness of the industry in the future? Where is the company’s competitiveness reflected?
As mentioned above, the next pattern will be that everyone will form a value chain rather than vicious competition. When a company tries to do anything, the limited energy will inevitably lead to innocent deep cultivation, and there is no way to make the best products.
Many of the customers we contact are not satisfied with all the products on the market. The competitiveness of the industry and the company is also reflected here: it is the most important thing to look at your value points.
Spread into the competitiveness of our company, that is to make the real technology professional enough. Doing AI is inseparable from the spirit of the craftsman.Blindly follow the network effect, etc., and lay a solid foundation.
Q6, 2020, will the company have some milestone nodes?
Our milestone in 2020 is the full technical cooperation in the entire human resources industry. Open your own technology to provide partners with needs. No company has done this before, and we will open the door for the first time next year to help other companies to better serve our customers. At the same time, at the product level, we will also be part of the upstream and downstream, empowering the entire industry. Only when the cake is grown first, the companies in the industry can be divided into considerable benefits.
It doesn’t matter how much money this milestone will cost. We always value technology and more than 80% of our funds are invested in research and development. However, if we cooperate with other companies, we will inevitably invest energy and take risks. Not every company can keep promises, we are also psychologically prepared.
PS:
The new technology startup series is aimed at companies with new technologies, such as AI, big data, robotics, enterprise services, internet of things, financial technology, medical, 3D printing, blockchain, smart manufacturing, sensors, semiconductors, VR/ AR/MR, commercial aerospace, new energy, new materials, hardware with technological innovations, etc. If you are interested in this series, please join us in the “New Technology Entrepreneurship 2019” series of research, the questionnaire download address: https://shimo.im/docs/d7YCMGpugIwmI4HC/, please send a questionnaire to liruqing@36kr.com.