Alva Labs, a Stockholm, Sweden-based digital hiring tool that helps recruiters qualify and compare job candidates using data-driven candidate assessments, raised €11.7 million ($13.3M) in Series A funding.
The round was led by VNV Global (backers of Babylon Health, BlaBlaCar, and Voi), with Tomas Lindén (Global Head of HR at H&M and ex-CHRO at EQT Partners) and other leading investors participating.
The company intends to use the funds to accelerate international expansion, with particular emphasis on building the UK-based team and product development.
Company: Alva Labs AB
Round: Series A
Funding Month: January 2022
Lead Investors: VNV Global
Additional Investors: Tomas Lindén
Company Website: https://www.alvalabs.io/
Software Category: Candidate assessments
About the Company: Founded in 2017 by Malcolm Burenstam Linder and Björn Ström, Alva Labs streamlines the hiring process for both recruiters and applicants by providing data-driven candidate assessments that accurately predict a candidate’s job success and suitability. The company’s tests, created by its team of psychometricians, data scientists, and talent acquisition experts, combine AI and machine learning with psychometrics and organizational psychology. With its data-driven testing across logic and personality, recruiters can save time, money, and resources, while also increasing their chances of finding the right person for the right job. The tool also ensures objectivity, promoting equality in the screening process and increasing diversity in candidates. The company counts Deloitte, Northvolt, Voi, and Daniel Wellington among its clients, and employs a team of 60 people.