Glasgow based software company Candidate ID has announced a further investment of £630,000 from VC Firm Blackfinch Ventures, taking the company’s total external investment to £1.6 million in 15 months.
In securing the investment, the company says that it will be able to focus on doubling revenue in 2020 whilst making further progress on its machine learning programme.
Candidate ID’s new interface works alongside a company’s Applicant Tracking Systems, acting as a core system of candidate engagement. The platform replaces recruitment CRM in an employer’s technology stack, allowing recruiters to cut sourcing time considerably and become 50% more productive.
The firm’s platform is currently being used by a variety of firms, such as FTSE100, Fortune500 and international Recruitment Process Outsourcing companies.
Candidate ID’s Advisory Board includes bosses from organisations including Barclays, Intuit, IQVIA, Nationwide, Philips and Thermo Fisher Scientific.
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Reuben Wilcock, Ventures Director at Blackfinch Ventures, said, “Recruitment has seen significant disruption in recent years as technology solutions automate processes, increasing productivity.
“We chose to invest in Candidate ID because we believe in the team’s vision for automated talent recruitment and a more positive experience for job seekers. We were also impressed with the recently re-launched platform and how the company has already secured global traction.”
Adam Gordon co-founder and CEO of Candidate ID, added: “The team at Blackfinch Ventures really believe in our people, technology and business plan and we are excited about working with them and accelerating our mission, to make recruitment more effective for every employer and a better experience for every candidate.”