LaunchPad Recruits, which provides video interviewing and screening technology to employers, has raised £2m in Series A funding from investors including Sussex Place Ventures and Edenred Capital Partners.
According to a statement, the funding will bring increased HR analytics to the company’s blue chip customers by applying machine learning to their performance and promotion management.
Will Hamilton, founder of LaunchPad, said: “Diversity and inclusion are high on senior management’s agenda, as research from Talent Innovation shows that firms with diverse leaders are more innovative and more likely to improve their market share.What’s missing is the technology to identify where bias is occurring and to help companies remove that bias.”
Based in London, LaunchPad claims to work with 200 customers across the world and says it processed 300,000 candidate interviews last year.
“The investment from Sussex Place Ventures and Edenred Capital Partners will help us deliver software to clients that directly supports their diversity and inclusion agendas,” said Hamilton. “We will be harnessing machine learning to predict the suitability and capability of candidates and employees, enabling organisations to bring objectivity to recruitment and promotion.”
Richard Gourlay, managing partner at Sussex Place Venturs, said that LaunchPad’s management team, its purpose, vision and compelling product made it an attracting investment.
Norbert Furnion from Edenred Capital Partners also commented on his firm’s involvement in the round. “LaunchPad has already proven its potential as a leader in the employment technology space.
“We want to support LaunchPad in achieving its ambitious growth plans, and developing cutting-edge software and apps that help organisations acquire top talent,” concluded Furnion.