Arctic Shores, a Manchester, UK-based psychometric assessment provider, secured £5.75 million in Series B funding.
The round was led by Praetura Ventures and Calculus Capital, with participation from existing shareholder Beringea.
The funds will be used to accelerate the development of its soft-skills assessment and international expansion, specifically in Europe, following growth in Germany, including major contracts with Airbus, Siemens, and Schneider Electric.
Robert Newry, co-founder and CEO of Arctic Shores, says, “This next phase of investment will help Arctic Shores realize its mission to help companies see more in people and transform recruitment so that potential will count as hard skills or experience.”
As a part of the funding round, Helen Verwoert, operational partner at Praetura Ventures and ex-chief people officer at Dr. Martens, and Alexander Crawford, co-head of investments at Calculus Capital, will join the board.
Company: Arctic Shores Limited
Raised: £5.75M
Round: Series B
Funding Month: January 2023
Lead Investors: Praetura Ventures and Calculus Capital
Additional Investors: Beringea
Company Website: https://www.arcticshores.com/
Software Category: Psychometric Assessment
About the Company: Founded in 2014 by Robert Newry and Safe Hammad, Arctic Shores is an AI and gamification-based psychometric assessment platform. The platform allows employers to register through the platform, invite employees to take assessments, analyze behavior, algorithms analyze and provide insights, and generate instant feedback. It provides a unique psychometric assessment that uses behavioral tasks and captures responses to determine personality traits that reveal true potential. The company helps employers build a diverse, successful workforce by enabling organizations to widen their talent pools, unearthing high-quality candidates often overlooked by CV screening and traditional tests. Arctic Shores has helped organizations, including Vitality, PwC, Thales, TalkTalk, and Arcadis.
Source: https://techfundingnews.com/arctic-shores-pulls-in-5-75m-to-build-diverse-teams-through-psychometric-assessment/