Salesforce Acquires Moonhub: Revolutionizing Recruitment with AI Innovations
Updated 1:13 p.m. Pacific: A Salesforce representative informed TechCrunch that, contrary to previous reports, Moonhub has not been acquired by the company, as defined by their standards. Instead, Moonhub is closing down, and only a portion of its team will be transferring to Salesforce, contradicting the impression given in Moonhub’s announcement. The original story follows.
Salesforce has discreetly acquired Moonhub, a startup specializing in AI solutions for talent vetting and hiring. The specifics of the transaction have not been revealed.
In a statement on Moonhub’s website, the company mentioned that its entire team from Menlo Park, California, would be moving to Salesforce, a historical investor in the company. CEO Nancy Xu expressed enthusiasm for this development, stating, “As a customer and investor, Salesforce has been integral to Moonhub’s journey. From the outset, it was evident that our companies share vital core values such as customer trust and a shared belief in the potential of AI agents to usher in a new era of global innovation and opportunity. We look forward to the impact we can achieve together.”
Salesforce is actively expanding its portfolio, having recently completed an $8 billion acquisition of Informatica, a provider of data management solutions. Additionally, last month it acquired Convergence.ai, an automation startup, to enhance its AI product offerings.
Founded in 2022 by Xu, a former engineer at Meta, Moonhub offers a variety of tools aimed at assisting businesses in recruiting, evaluating, and hiring candidates. The company’s AI technology can autonomously identify potential candidates and aid in tasks like onboarding and payroll management.
According to Crunchbase, Moonhub has secured $14.4 million in funding from investors including Khosla Ventures, AIX Ventures, Day One Ventures, and GV (formerly Google Ventures), alongside support from Salesforce. The startup boasts hundreds of clients, including several Fortune 500 companies.
“By becoming part of Salesforce, we are propelling our mission forward in this next phase,” Xu added in her announcement. “Moonhub’s skilled team will be pivotal in driving Salesforce’s AI initiatives.”
The acquisition of Moonhub aligns with a growing trend, as AI continues to be integrated into hiring and HR processes, despite mixed feedback from job seekers. A recent Gallup poll revealed that 93% of Fortune 500 chief human resource officers have initiated the incorporation of AI tools and technologies to enhance their practices.
