With offices in Dubai and Melbourne, London-based talent assessment solution Sova Assessment has secured $9 million in a growth funding round that will allow the company to push forward with aggressive international expansion plans as well as further develop and market its product lineup.
In light of the Great Resignation, organisations around the globe are scrambling. Not only to attract new talent to the ranks but even more importantly, to retain existing staff members. Over the course of the pandemic, we’ve seen a number of hrtech startups come into their own, with the recruitment and employee retention departments receiving a healthy heaping of attention in their own right.
Each with their own unique angle and process, effectively, whether they like it or not, these startups are pulling the human resources department into the 21st century by way of a heavy influx of tech, or ‘digitalisation’.
And such is the case with Sova, as the startup is aiming to unite the traditionally disjointed and fragmented system(s) that power the talent management processes across a wide variety of industries.
By combining a series of ‘scientifically strong’ assessment tools, workflow management, and analytics, Sova delivers a compelling offer that helps corporates make fast, fair, and data-driven decisions throughout the employee journey, from onboarding through, ‘beyond’.
As for the recruiters themselves, well, I guess well have to leave that to Metaview.
“At a time when organisations are facing significant talent challenges, whether that’s COVID, skills shortages, the impact of technology on jobs or upskilling the workforce, it’s clear that legacy approaches are no longer fit for purpose. Our enterprise assessment platform helps customers make better decisions about talent without compromising fairness, efficiency, or candidate experience,” explained Sova Assessment’s founder and CEO Alan Bourne.
The company’s methodology is trusted by over 120 enterprise-level clients including Vodafone, John Lewis Partnership, TUI Travel, NatWest, National Australia Bank, Northern Trust, Generali, Police Now, Pfizer, and Deloitte, and has been utilised to assess over 2.5 million candidates in over 20 countries around the globe.
Sova Assessment’s $9 million in growth capital was provided by existing investor Octopus Ventures.
“Sova is leading and transforming the assessment industry, meeting increased global demand for a more integrated, strategic approach to assessing talent that is even more relevant now than it was when we first invested,” commented Octopus Ventures’ Paul Davidson. “We first provided growth funding to Sova in November 2020 and due to the rapid growth of the business, we are excited about further supporting Sova.”