TalentMapper, a London-based HRTech startup focusing on identifying and developing skills within organizations, has recently raised $2.44 million (approximately €2.37 million) in a fresh funding round led by Mercia Ventures and Haatch.
TalentMapper, founded in 2022 by HR professional Martin Mason and software expert Carl Tucker, is designed for businesses with over 250 employees. It helps HR teams assess workforce capabilities, reduce recruitment and training costs, and ensure equal career opportunities. It also guides employees through career development and connects them to learning management systems. The firm claims that businesses using the platform have experienced a two-fold increase in gender diversity and a four-fold increase in ethnic diversity in new appointments.
Speaking on the fundraising, TalentMapper’s founder and CEO, Martin Mason, said:
We wanted to make it easier for companies to manage global talent and ensure they have the right people in the right place at the right time. By emphasizing skills, TalentMapper also helps ensure employees are promoted for their capabilities. I have seen so many talented people overlooked for promotion because they weren’t a replica of their boss. The funding will enable us to build our team to cope with growing demand, add new features to enhance the platform and scale for growth by targeting other sectors, including financial and professional services.
The 18-month-old UK-based company has gained clients such as Dunelm, Danone, and Mountain Warehouse and reached annual recurring revenue of over £700K. It uses AI and machine learning and has trained 675 million people with career histories.
Stephen Windsor, Investment Director with Mercia Ventures, added:
The need to optimize the workforce’s skills has never been more important. Employee turnover has risen sharply since the pandemic, and companies must try harder to retain staff. It (TalentMapper) has achieved remarkable growth in a short time, demonstrating the demand within the market and the value it provides to employers. We are pleased to help Martin and Carl as they scale the business and roll it out to a broader audience.
TalentMapper intends to use the funding to enhance its platform, expand its team, and enter fresh sectors such as financial and professional services.
