Blackfinch backs Candidate.ID’s disruptive tech
Adam Gordon: guidance
Blackfinch has invested £700,000 in innovative Glasgow-based recruitment software developer Candidate.ID.
The move follows an initial £630,000 deal in April last year, and marks just one of 12 deals in excess of £11 million completed by Blackfinch Ventures ahead of the tax-year-end deadline.
Founded in 2015, Candidate.ID produces software that provides recruiters daily with information based on candidates’ interactions with a company’s online content.
Aimed at both mid-large employers and specialist staffing companies, the company’s talent platform is a fast-track solution to hiring which can replace a company’s customer relationship management system to provide enhanced recruitment performance.
The additional investment from Blackfinch will further allow the company to focus on its revenue growth plans while further developing the machine learning behind its solution.
A total of £10.4m was raised this year through Blackfinch’s EIS Ventures Portfolio, which invests in innovative start-up and early-stage technology companies. A further £5.8m was raised through its Spring Venture Capital Trust (VCT) which invests primarily in companies at the start of their growth journey.
Reuben Wilcock, ventures director at Blackfinch, 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, CEO at Candidate.ID, said the firm had benefited from Blackfinch’s input and guidance as it grew the customer base and revenue.