With a vision of revolutionising tech recruitment, Circular.io has today announced plans to expand into the UK after landing over €9 million in fresh funding as it emerges from stealth mode.
With support from VCs across Europe like LocalGlobe, Point Nine, Kibo Ventures, All Iron Ventures, Quentin Nickmans (eFounders), Kima and Shilling, the funding will be used to pave the way for the future of in-house tech recruitment within the Circular network
Amidst the global tech talent shortage, Circular has been developing an innovative blueprint for a new tech recruitment model, and already has companies such as FORM3, Nested and Dow Jones on board.
Teo Ruiz, CTO, CPO and Co-Founder of Circular explained: “The backdrop of the tech talent shortage means that many in-house recruiters are currently struggling to find the best talent. Now they can pool their efforts to help maintain a recommended flow of talent across the entire industry. Our network harnesses the power of trusted peer recommendations to create a faster and more effective way to find the best people.”
Circular provides direct access to tech talent which has been vetted and recommended by in-house recruiters within fast-growing tech companies. By recommending strong candidates that they were unable to hire themselves, in-house recruiters using Circular help maintain the flow of talent across the tech industry by sharing candidates with their peers, while improving the candidate experience.
Recruiters can enhance their reputation within Circular with each recommendation made, demonstrating their sound judgement and commitment to helping their peers succeed, meaning that no one misses out on top candidates in such a competitive job market. Every recommendation also enhances a candidate’s chance of future success and strengthens the power of the Circular network. The result is a recruitment network in which candidates convert 10x more than conventional recruitment methods – making it easier and quicker to find great tech candidates who want to be hired.
Circular has made almost 1,000 hires since launch and has helped to set up on average 20,000 interviews per year. Tech recruitment managers in Madrid, Barcelona – and increasingly in remote positions – with companies like Glovo, Ryanair and Inditex have hired developers from within the Circular network which has more than 5,500 in-house recruiters active in its community and over 19,000 candidates.
Pedro Torrecillas, CEO and Co-Founder of Circular, added: “We’re excited to announce our launch in London today as we build out a global network for sourcing technical talent. Our offering paves the way for an entirely new recruitment model – we believe in recommendation-driven recruitment that supports both in-house recruiters and tech candidates as they travel along their recruitment journey.”
The new capital injection will be used to spearhead expansion within Europe beyond London, Madrid and Barcelona changing the way in-house tech recruiters hire.
Emma Phillips, Investment Partner at LocalGlobe said: “While traditional models involve interviewing tens of dozens of potential candidates, with an end result of hiring just one, Circular has changed the game when it comes to the recruitment process – there is no longer a hard stop on the great talent that in-house recruiters were not able to hire themselves. They can now easily recommend these candidates to other recruiters, and in return have access to a talent pool recommended and vetted by their peers.”