UK recruitment platform Applied raises GBP1.5million to bring more job opportunities to more people
London, 17 October 2018... Applied, a platform that makes recruitment smarter, fairer and easier, has raised seed funding of GBP1.5 million. By supporting Applied''s growth, the investment will help create more job opportunities for people who would otherwise be eliminated from traditional hiring processes.
The investment is being led by Blackbird Ventures and supported by Skip Capital, Angel Academe, Giant Leap and Impact Generation Partners, as well as a number of angel investors. They join Applied''s existing shareholders, including the Behavioural Insights Team, gender advocate and businesswoman Carol Schwartz, and award-winning Wharton Professor Adam Grant, to accelerate the business.
Applied started as a project in the Behavioural Insights Team, which was looking to use the latest insights from behavioural science research to transform its recruitment processes. When its research findings showed promise, the founding team formed a company in 2016 and spun the business out.
Applied removes irrelevant information from applications such as name, address, hobbies and education (both years and institute) which may introduce bias when reviewing candidates and detract from the detail that really matters to perform the job. Candidates are therefore assessed fairly on what they can do, not what they look like.
Additionally, behaviourally-designed algorithms then reshape how people see information to eradicate bias that can creep into assessment. For example, the platform randomises the sequence of candidate applications to overcome ordering and anchoring effects.
The investment coincides with the number of candidates registering to apply for jobs through Applied exceeding 50,000, and over 400,000 candidate judgements made through the platform.
Already active in industries such as media, government and professional services, the investment will help Applied strengthen its data science programme and the revamped inclusive job description tool.
It means that more people will stand a higher chance of securing work, irrespective of their background. At the same time, employers benefit from improved, streamlined recruitment processes along with the added reassurance that vacancies are being filled by the most appropriate candidate.
Nick Crocker, general partner, Blackbird Ventures comments, "Our mission is to find the most ambitious founders, and support them through every stage of their company journey. Kate and the team blew us away with the depth of their insight, the thoughtfulness of their product, and a mission that we"
Owain Service, CEO, BI Ventures comments, "Applied uses the latest behavioural science research to help companies find the best talent. We ourselves have recruited over 130 people through the platform. This investment represents an exciting next step to supporting more organisations to remove bias from their recruitment processes, in exactly the same way that we do."
Kate Glazebrook founder and CEO, Applied, adds, "Applied is more than just another tech start-up. This investment is going to help change people''s lives by opening up the job market to more people and ensure, for the first time, truly meritocratic hiring. We''re excited at the prospect of helping organisations take a fresh look at recruitment and shake off any unconscious biases which may be stifling their growth and success."
Applied existing and previous shareholders
Behavioural Insights Team
Impact Investment Group (Amanda Miller)
Nesta Impact Investments (exited)
Public Group International
Skip Capital (Kim Jackson)
Trawalla Foundation (Carol Schwartz)
Angel investors including Adam Clements, Adam Grant, Adam Milgrom, Andrea Gisle-Joosen, Bernard Stapleton, James Callander, Tom Blathwayt, Travis Metz, as well as Angel Academe, a network for women investors.
Ansprechpartner: Fran Cator
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