3 years ago

Screenloop Secures £6 Million to Revolutionize Hiring with Data-Driven Insights

  • London-based hiring software startup Screenloop has raised £6 million ($7 million) in a seed funding round led by Stride VC

  • The company uses data analytics and automation to optimize the hiring process, providing data-driven candidate feedback, interview coaching, and bias identification tools

  • The funding will be used to fuel product development and expand the team.

      • ProblemTechnology

      "Hiring can be a complex process for businesses, particularly in the tech industry, where there is such an intense pressure to scale up rapidly. This can lead to rushed hires where the ideal candidate is missed out on. CVs only tell so much about a candidate, and with the majority of interviewers in organisations having little or no training, there is a skill gap to identify who is most suitable for a role. A failed hire – that is, a hire who doesn’t pass the probationary period – can cost companies as much as $180,000. The hiring process is difficult to track and measure, meaning there’s a lack of insight into what to improve and what to prioritise. Unconscious bias present in some hiring managers can have an effect on the final choice."

      Solution

      "Screenloop uses data and automation to speed up the hiring process. By using data analytics, the company claims to be able to quickly determine the best candidates, with insights collected that often go unnoticed in the traditional hiring process. Screenloop provides hiring managers with data-driven candidate feedback after an interview. It also claims to improve the quality of the interview with coaching, tips and real-time prompts for those conducting them. The startup is trying to reduce unconscious bias present in some hiring managers, by flagging potential biases that might have an effect on the final choice."

      Covered on