A provider of psychometric tests, used by recruiting firms to measure an individual’s characteristics and aptitude, said it plans to “accelerate” international expansion plans.
It comes after Arctic Shores secured a $5.5m Series A investment led by transatlantic venture capitalists Beringea, with further investment from Candy Ventures.
It brings the total investment into the firm to $10m.
Arctic Shores was founded in Manchester in 2014 by Robert Newry and Safe Hammada and uses artificial intelligence, game technology and neuroscience developed and led by its chief scientist Lara Montefiori, a University College London academic.
The company, which offices in Manchester, London and Singapore, has provided services to more than 140 organisations across 40 different countries, with international business making up 48 per cent of its revenue this financial year.
Dr Hammad, CTO and co-founder of Arctic Shores, said: “Arctic Shores has a clear mission to enable companies to be more objective and broader in their selection of applicants and foster an assessment process that provides a fairer evaluation of people from different backgrounds and socio-economic groups.”
“Our rapid growth in the 海角视频 and internationally has demonstrated the vast demand for a step change in the way millions of people are selected for roles.
“Beringea will provide vital support and expertise in scaling international software companies to help us realise our vision.”
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Marc Shirman, investment director and head of Beringea Manchester office, said the investment will play a “vital role” in helping the platform reach “millions of applicants worldwide”.
He said: “Safe, Robert and the exceptional team at Arctic Shores have built an international success story from the heart of Manchester, demonstrating the pressing need for a new approach to recruitment processes that fosters greater diversity and better hires for organisations around the world.”
Arctic Shores counts PwC, Airbus, Siemens and Deutsche Telekom among its clients.
Mr Shirman continued: “Beringea has backed the vision and innovation of one of the North of England’s leading technology companies, inspired by a pioneering approach to combining neuroscience, data analytics and game technologies.”
Arctic Shores also said it plans to use the investment to launch a software-as-a-service (SaaS) platform with the aim to broaden its product offering to support enterprise clients and SMEs.