Amsterdam-based innovators, The Selection Lab, have secured a substantial €1.25 million in funding to enhance their cutting-edge assessment technology for applicant screening. The funding round was spearheaded by Borski Fund and saw participation from existing investor Arches Capital.
This investment will be instrumental in advancing both the tech infrastructure and sales capabilities while driving client acquisition through strategic marketing initiatives. In celebration of this milestone, The Selection Lab is offering a complimentary 3-month period to all new clients who apply during October 2023.
Joeri Everaers, COO and co-founder of The Selection Lab, expressed the company's excitement about their partnership with Borski, emphasizing the dual focus on growth and impact. He stated, "Due to our partnership with Borski, not only are we able to continue to grow our revenue, but also double down on impact."
Laura Rooseboom, Partner at Borski Fund, echoed the sentiment, underlining their commitment to a future of hiring that emphasizes objectivity, inclusivity, and fairness. She said, "Investing in The Selection Lab highlights our vision for the future of hiring – one that prioritizes objectivity, inclusivity, and a fair process to ensure that organizations can confidently choose the best candidates for their success."
Lotte Welten, CEO and co-founder at The Selection Lab, discussed the investment's potential to revolutionize the employee selection process, focusing on objectivity, professionalism, and the significance of soft skills. Welten added, "Together, we will redefine what it means to be 'the right fit' and boost diversity at the same time."
The Selection Lab, founded by husband-wife duo Lotte Welten and Joeri Everaers alongside Jordi Wippert in 2018, envisions an objective, skill-based approach to hiring that is user-friendly and straightforward to implement.
Their user-friendly software is designed to be accessible without prior HR experience and can be seamlessly integrated with other HR software systems. It utilizes scientifically validated tests and incorporates a smart data layer that objectively assessed candidates' soft skills. This data layer empowers recruiters to compare candidates' skill profiles with various groups, such as other applicants or top-performing employees.
Since its inception, The Selection Lab has experienced substantial growth, with its client base expanding from 30 to over 180 clients in just the past two years. This recent funding will further accelerate their mission to transform the recruitment landscape by making it more objective and inclusive.