Founded in 2015, Teamscope has just raised €1.3 million from Estonian and foreign investors as a convertible loan to expand its executive hiring SaaS platform. The Estonian-born company has headquarters in London.
On a mission to help leaders develop teams and make better hiring decisions, the Teamscope platform organises the recruitment process so that decisions can be made based on data – reducing the issues of bias and reducing the risk of hiring errors.
Tech in the recruitment sector has been booming in the past months and Teamscope is one of the latest to enter the arena bringing data-based capabilities to recruitment decisions. The Teamscope platform takes into account the suitability of the candidates for the team in terms of their values, competencies and personality traits.
Co-founder and chairman of the board Tõnis Arro said: “I have been a headhunter for decades and have increasingly found that hiring decisions are the worst kind of management decisions. Hiring is based on gut feeling, and if the candidate is also individually strong, his / her suitability for the team is not assessed. And that’s the main reason for failed hiring decisions…Teamscope transforms a standard, intuitive hiring decision into a data-driven process, helping to reduce hiring risks. With Teamscope, every executive can become a professional recruiter.”
With customers across Europe, the UK and US, Teamscope is already used by leading executive search companies, investment funds and the management teams of large companies, such as Oracle and AXA. The platform has already been used to analyse the profile of more than 10,000 leaders.
Currently with a team of 10, this fresh funding will be used to expand the sales team as well as develop the product.
