finance

Venture capital firm invests £1.3 million into Glasgow start-up



A venture capital firm has invested an additional £700,000 into to a Glasgow-based recruitment software developer.

Blackfinch Ventures initially invested £630,000 in April 2020, taking its total investment to £1.3m.

Candidate.ID was founded in 2015 and produces software that provides recruiters with information based on candidates’ interactions with a company’s online content.

The software is aimed at assisting specialist staffing companies and larger employers, potentially replacing customer relationship management systems.

The Blackfinch funding will enable the company to focus on its revenue growth plans, while developing the machine learning technology behind its solution.

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, chief executive at Candidate.ID, said: “Their team worked closely with us to make this deal straightforward and we have really benefited from their input and guidance over the last 12 months as we navigated the pandemic while growing our customer base and revenue.”

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