- HR tech pioneer Arctic Shores is focused on additional development in 2022, supported via £1.5m in undertaking debt investment from Silicon Valley Financial institution.
- The carry follows speedy new buyer acquisition in 2021, together with main employers like Power, Xerox, and TalkTalk.
London, UK, [13/01/2022]: Arctic Shores, the psychometric review pioneers, have gained £1.5m in undertaking debt investment from Silicon Valley Financial institution (SVB). The investment follows some other thrilling 12 months for the corporate, the place revenues grew via greater than 50%.
The carry will strengthen Arctic Shores’ intention of fixing the best way the arena sees attainable – simply as 91% of employers combat to fill roles amid a world talents scarcity. Arctic Shores is now uniquely positioned to assist employers see extra in other folks, with a platform that’s constructed to seem past previous enjoy, and discover true attainable at paintings.
To additional advertise that message, and proceed rising its buyer base via 50% subsequent 12 months, Arctic Shores will build up headcount via an additional 20 other folks via 2022.
Arctic Shores joins Smart, HelloFresh and GoCardless as the most recent high-growth, tech-enabled organisations supported via SVB. Commenting at the new investment, Robert Newry, CEO of Arctic Shores, stated:
“The worldwide talents scarcity displays that it’s by no means been extra important to rent for attainable. However, for employers, that calls for one giant step – scrapping the CV. It will really feel like a difficult ask. However except we loose ourselves from inappropriate and old-fashioned enjoy, we’ll by no means unharness the huge attainable of the untapped many, who’ve the standard however lack the enjoy. That’s why, with SVB’s strengthen, we’re excited to turn the arena that it’s no longer best conceivable to peer extra in other folks, however, with our Skill Discovery Platform, easy and inexpensive too.”
Ben Tickler, Director of Undertaking & Expansion at Silicon Valley Financial institution UK Department, added:
“Arctic Shores is an exhilarating Manchester-based innovation corporate, and it’s been nice so that you can strengthen them on their spectacular adventure of speedy development. We sit up for a persisted partnership with the group as they appear to scale additional.”
SVB’s undertaking debt investment follows Arctic Shores’ September 2019 Sequence A, which used to be led via Beringea and Sweet Ventures.
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About Arctic Shores:
Arctic Shores’ behaviour-based checks give each and every particular person the chance to turn their attainable, and each and every employer the manner to peer it.
These days, our checks assist the arena’s maximum revolutionary companies see past the CV – past the atypical measures of human attainable. This fashion, they are able to counter herbal bias, and construct the various, a hit, odd groups they want maximum.
With the following frontier in review generation, we’ve given over two million applicants around the globe one thing other: a enjoyable, independent enjoy, that actually rewards them for his or her time. Right through a neighborhood of pioneering consumers, which incorporates the likes of BBC, PwC, Siemens and Capita.
First introduced in 2014, we’re now fuelled via over 70 devoted Explorers founded in our Manchester and London hubs. We’ve grown 400% prior to now 4 years, and feature featured this 12 months on BBC Click on, The Instances, and The Father or mother.
About Silicon Valley Financial institution:
Silicon Valley Financial institution (SVB) is helping cutting edge companies and their buyers transfer daring concepts ahead, rapid. SVB supplies centered monetary products and services and experience via its places of work in innovation centres around the globe. With business and world banking products and services, SVB is helping cope with the original wishes of innovators to extend their chance of good fortune via fuelling innovation for a greater international. Be informed extra at svb.com/united kingdom.
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