Video firm Willo raises funds for global drive
Euan Cameron: incredibly proud
Willo, the Glasgow-based video interviewing software company, has raised a £250,000 seed round from Guernsey-based VC 1818 Venture Capital and board members.
The funding will allow the firm to grow further internationally, begin a recruitment drive for 24 staff and advance product development.
The Willo platform is already used in more than 60 countries.
Prior to the pandemic, 95% of the business was recruitment but Willo has diversified considerably since lockdown began. Since March, 60% of new business has emerged in a host of other areas, including reviews, training, learning and development.
CEO and founder Euan Cameron said, “We witnessed a huge amount of growth as businesses across the globe were forced to address the fact that face-to-face interviews and consultations were no longer possible, and the resource required to conduct everything over Zoom or Skype was prohibitive.
“As well as finding a solution to interact with potential recruits, businesses had to act quickly to find efficient and effective ways to communicate with employees and their customers remotely.
“This demand shows no sign of slowing down as we adapt to a new normal, and it’s part of the reason we have been able to secure investment to develop the platform and take our business to the next level.
“We’re incredibly proud of what we’ve achieved so far and it has been extremely rewarding to see how much appetite there has been for our service. With 1818 Venture Capital’s investment and expertise, we are very excited about the future.”
1818 Venture capital CIO Marc Cohen commented: “As the pandemic hit, we moved quickly to identify companies which helped people and businesses thrive in the fast-changing environment. During this time, we began using Willo’s product and were compelled by its simplicity and quality.
“While Willo’s growth has accelerated because of the pandemic, given the strength and vision of its management team, we truly believe the company has huge potential.
“Regardless of whether the trend towards homeworking continues, the need to communicate efficiently and effectively with people remotely will always be a priority for businesses around the world.”
Earlier this year, Willo secured £20,000 from Scottish Enterprise.
Board members Steve Perry, Stefan Ciecierski and Peter Preston also contributed further funds.