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Imperial Innovations leads £1.6m seed round in machine learning recruitment tech startup

Technology investment firm Imperial Innovations has headed up a seven figure funding round in a tech firm which looks to utilise machine learning to better match job candidates with vacancies.

The £1.6m seed round in ThisWay Global Limited was led by Imperial along with contribution from Jetstream Ventures and GPHR Ventures, the corporate fund of global recruitment company Grupa Pracuj.

Founded in 2015, the Cambridge-based tech firm is currently developing a data analytics platform which utilises psychometric information and machine learning to power its large-scale matching algorithm; innovations which it hopes will prove more effective at pairing candidates with job openings than current methods.

The company has grown out of the ideaSpace incubator at the University of Cambridge under the guidance of Founder and Chief Executive Officer Angela Hood, boasting a development team of researchers and advisors from Cambridge’s Computer Science and Psychology Departments, as well as University College London.

Following the closure of the seed round, Angela commented: “This investment round will allow us to execute on the significant customer interest. We could not have asked for a better investment syndicate.

“Each of the three investors brings deep and complementary expertise and also represents our growing commercial traction on both sides of the Atlantic.”

Kelsey Lynn Skinner, Director of Tech Ventures, Imperial Innovations described the investment, which is the sixth digital company the firm has invested in in the last 15 months, as in keeping with Imperial’s strategy of backing early-stage UK firms with global potential.

She added: “There is a huge market opportunity for a more effective methodology to match high quality job candidates with appropriate opportunities. Corporates want a productive, fast, and low-cost recruitment solution that yields employees with high retention potential.

“ThisWay Global is the best technology we’ve found to address this problem with a novel solution that combines an exceptionally wide search with a high accuracy matching algorithm, resulting in faster and better-quality matches.”

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