Neufast

Neufast is a human resources technology company, established in 2018 by co-founders Agnes Wun and Dr. Dennis Lee, with its headquarters situated in Singapore. The company operates on a Software-as-a-Service (SaaS) model, providing an enterprise platform that utilizes artificial intelligence for pre-employment talent assessment through video interviews.

The firm was founded to address inefficiencies in the hiring process, particularly for multinational corporations that require assessment in multiple languages. CEO Agnes Wun has a background in software engineering, corporate development, and financial modeling, having worked for companies like Accenture, Gazprom Marketing & Trading, and Cheung Kong Infrastructure Holdings. Her experience includes workforce planning and overseeing multi-million dollar IT transformation projects. CTO Dr. Dennis Lee has a background in civil and structural engineering, with a PhD from Imperial College London and experience leading research and development projects. Their combined expertise in technology, corporate strategy, and engineering underpins the company's approach.

Neufast's core product is an AI-powered platform that automates and analyzes video interviews to assess candidates' competencies, skills, and cultural fit. The system employs natural language processing and machine learning algorithms to evaluate responses based on facial, vocal, and textual data. A key feature is its multilingual capability, supporting over a dozen Asian and European languages, which caters to businesses in linguistically diverse regions. The platform is designed to reduce unconscious bias and improve hiring fairness, with a patented technology for redacting personal identifiable information (PII) to comply with data protection regulations like GDPR. It generates detailed reports on each candidate, providing a quantitative basis for hiring decisions and aiming to reduce time-to-hire by as much as 50%. The technology's reliability has been validated at 91%.

The company generates revenue through a subscription-based model for its SaaS platform. Its clientele includes Fortune 500 corporations, government bodies, recruitment agencies, and higher education institutions. Notable clients include Carlsberg, Crystal Group, and the Hong Kong Science and Technology Parks Corporation (HKSTP). Neufast also targets sectors with stringent regulatory requirements, such as banking, insurance, and healthcare. The company has established partnerships with major technology firms like SAP, Oracle, and Microsoft to offer integrated recruitment solutions. Since its inception, Neufast has secured $1.1 million in funding over four rounds, with its latest pre-series A round led by Wavemaker Ventures.

Keywords: talent assessment, video interviewing, AI recruitment, HR technology, multilingual hiring, competency assessment, debiased AI, pre-employment screening, SaaS, natural language processing, automated interviews, candidate screening, human resources, corporate hiring, person-job fit, recruitment automation, workforce planning, talent acquisition, employee selection, psychometric assessment