He Raised $350 Million To Pioneer Facial Recognition And Now Raised Millions To Streamline Talent Hunting

In the latest episode of the Dealmakers’ Podcast, Eylon Etshtein, a visionary entrepreneur, shares his remarkable journey from army service to founding successful tech companies. Eylon’s story is a testament to the power of persistence, innovation, and a relentless pursuit of what truly interests you.

Listen to the full podcast episode and review the transcript here.

Building Bridges Beyond Borders

Eylon’s childhood was marked by fresh experiences and a strong sense of discipline instilled by his army service. Although not always in the good graces of his neighbors, Eylon found solace in the structured environment the army provided.

For Eylon, traditional education failed to ignite his passion. Instead, he was drawn to website development and soccer. His years at the prestigious Technion in Israel left him yearning for more meaningful pursuits, leading him down the path of coding and party organization.

Growing up without a father, Eylon sought structure, discipline, and a sense of belonging. The army provided just that, offering an environment where he could discover his strengths, work alongside teammates, and take initiative. His time in the military remains one of the most cherished periods of his life.

The army taught Eylon the value of recognition and uniqueness. As a commander, he discovered he was capable of achieving more than he’d ever imagined. This experience laid the foundation for his entrepreneurial journey.

From Coding to Company

Eylon’s entry into the tech industry was serendipitous, driven by his desire to create. He attended Technion, the Israel Institute of Technology, which is the equivalent of MIT in the US. However, physics and other lessons they taught couldn’t hold his interest.

Instead, coding, party organizing, and design became his tools for building websites and apps. This led to the establishment of his own agency, which thrived on the wave of Facebook’s FBML.

This feature enabled users to build apps inside Facebook, which was great for businesses. Later, a merger propelled him into a larger corporate setting.

The Power of Creation

Through hard work and determination, Eylon recognized the value of creation. He understood that effort invested in a project could yield tangible returns, a lesson that propelled him forward in his entrepreneurial endeavors.

Eylon’s foray into the industrial sector provided a unique education in real-world business negotiations. Surrounded by seasoned professionals and being younger than them by at least 20 years, he learned valuable lessons that would serve him well in future ventures.

After 3 years, in around 2015, Eylon decided to move on and quit the company to walk into the world of deep learning and the Graphics Processing Unit (GPU) outside of gaming. That’s when he discovered that facial recognition was going to be the next big thing.

Pivots and Persistence

Eylon’s entrepreneurial journey has not been without its challenges. His venture into facial recognition technology faced initial struggles, with two years of no revenue or salaries. However, his unwavering persistence ultimately led to successful funding rounds and a groundbreaking business.

At the onset, they set the pricing per license at $7,000, but because of the pushbacks, they later brought it down to $4,500. They also bundled it with other perks and benefits.

Eylon’s experiences in AnyVision and SightX underscore the importance of adapting to market demands. Through trial and error, he learned to refine pricing strategies and identify the most promising verticals where they should be pitching their facial recognitions.

Although airports seemed like the right approach, they soon moved on to casinos, gambling, Smart City, and other verticals.

The Media’s Weight

Eylon’s candid account reveals the impact of external forces on a startup’s trajectory. The unexpected pressure from external groups in 2019 altered the course of AnyVision, leading to the creation of SightX.

Eylon’s latest venture, Perfect, tackles a fundamental challenge in recruitment. By leveraging advanced AI models, Perfect aims to revolutionize the hiring process, enabling companies to focus on what humans do best: creativity and relationship-building. Eylon raised $13M for this company.

Storytelling is everything, which is something that Eylon Etshtein was able to master. Being able to capture the essence of what you are doing in 15 to 20 slides is the key. For a winning deck, take a look at the pitch deck template created by Silicon Valley legend Peter Thiel (see it here), where the most critical slides are highlighted.

Remember to unlock the pitch deck template that is being used by founders around the world to raise millions below.

Conclusion

Eylon Etshtein’s entrepreneurial journey is a testament to the power of persistence, innovation, and a deep-seated passion for creation. From his formative years in the army to navigating the complexities of the tech industry, Eylon’s story serves as an inspiration for aspiring entrepreneurs worldwide. His commitment to pushing boundaries and seeking new horizons continues to shape the future of technology.

Listen in to the full podcast episode to find out more, including:

• Army service provided the structure and discipline needed to be a cornerstone of success
• A journey that highlights the power of pursuing what truly interests you, as opposed to following conventional paths
• The army taught the value of recognition, instilling in the belief of being able to achieve extraordinary things.
• Unwavering persistence through challenging times ultimately led to the success of ventures.
• Experiences underscore the importance of adapting to market realities and refining strategies for success.
• A stark reminder of the impact external forces, like media pressure, can have on a startup’s trajectory.
• The latest venture, Perfect, exemplifies how innovation in AI can revolutionize industries, solving fundamental challenges in recruitment.

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