London company raises $1.2 million for bias reduction recruitment tool
UK talent tech company PitchMe has raised a $1.2 million seed round for a platform to reduce bias in the candidate screening process.
The platform aims to replace the traditional CV with a system that presents candidates’ soft and hard skills to employers, using a methodology designed by leading behavioural scientists and a process driven by big data algorithms. Online sources are verified for accuracy to create a candidate profile based on real skills and experience, which is then shared with suitable employers anonymously. PitchMe is already being used by companies such as Miro, Revolut, Typeform, and Intercom.
Aside from making the hiring process more inclusive, the company says its platform is proven to match candidates with suitable roles 40% more accurately, 50% faster and 50% more cheaply than traditional platforms or recruitment agencies. PitchMe also provides candidates with educational opportunities for developing their careers, based on the analysis of their skills and job market needs.
Dina Bayasanova, CEO and founder of PitchMe, said: “As employers across industries try to take advantage of the talent surplus caused by Covid-19, we are seeing an increasing demand for a more accurate assessment of skills – this has led to a 300% growth in demand for our profiling and matching services.
“We are thrilled to have secured funding to continue in our mission to make the future of work more inclusive and connect the right talent with the right opportunities for their personal and professional growth, regardless of background.”
The funding round was led by New York-based Starta Ventures and also includes investments from a UK-based family office and a number of angel investors. PitchMe plans to use the funding to expand its marketing team to promote its ‘SmartMe Profile’, and further optimise its platform process.
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