Sova Assessment, an online recruitment platform, has raised $9 million (£6.6M) in a growth funding round from Octopus Ventures.
With the latest round of investment, the company plans to accelerate expansion plans and further develop its assessment platform.
Founded in 2015 by Alan Bourne, Sova Assessment is an end-to-end talent assessment SaaS platform that provides psychometric assessments for hiring or recruiting processes. It also offers a mobile-friendly digital platform that uses AI to assess job candidates. The platform works because it is committed to a shared goal, values teamwork, recognizes each other’s strengths, and always communicates openly, honestly and respectfully.
Sova Assessment is on a mission to change assessment for good. Each and every one of the team plays a part in creating a world where there are fairer, more objective decisions about talent at work. It recognises that the sum of the team is greater than its parts, so the company wants people who work well as part of a team and who see shared goals as more important than their own.
Talking about the platform, Founder and CEO of Sova Assessment, Alan Bourne, said, “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.”
Sova aims to provide the space and time to think critically about building organisations where people thrive and flourish and the role that talent assessment plays in making better people’s decisions.
Commenting on the funding, Principal, Octopus Ventures, Paul Davidson, said, “With their deep expertise and experience, we have been impressed by how well Alan and his team have helped customers streamline and enhance their talent assessment processes.”
The latest funding comes almost over a year after the HR tech firm raised $4m from Octopus Ventures in November 2020.
Headquartered in London, with offices in Dubai, Melbourne and a network of global strategic partners. Sova is used by over 120 organisations in over 20 countries. Customers include Vodafone, John Lewis Partnership, TUI Travel, NatWest, National Australia Bank, Northern Trust, Generali, Police Now, Pfizer, and Deloitte.