Reducing Hiring Time By 50% HR Tech Recruitlab Secures €1.9M

August 17, 2022 | 2 minutes read

HR tech RecruitLab nabs funding of  €1.9M to expand its video recruitment platform in UK.

In a funding round led by Change Ventures, an HR tech startup RecruitLab has gathered seed funding of €1.9 million.  The other investors included in the round were Startuplst VC, FFF.vc and the BADideas.fund.  Also including syndicate led by founders and operators of companies such as Bolt, Vimeo, Shopify, Printify, Deel, and Bird,etc.

The HR technology industry in recent years has grown exponentially, mainly because of  better and faster hiring decisions it helps in making. Dynamic features like the ability to build a database of qualified resumes or applicant tracking system has made it popular among HRs working all around the globe. Also causing an increase in the development of HR apps and platforms.

Many startups keeping in view this demand have also come forward such as Recruitary  and Advantage Club etc. Now the recruitment lab founded in 2020 by Paavo Heil in Tallinn- lets the recruiters get actionable insights that help them improve their performance, reduce spending and gain data on which recruitment platforms are the most effective for sourcing specific candidates for particular positions.

In addition to all this, it offers clientele a video-recruitment platform that assists to streamline and automate their recruitment processes, handle many candidates whilst reducing the hiring time by 50% and improve the overall candidate experience.

Furthermore, its proprietary video interview platform simplifies and speeds up the pre-screening process of candidates via its asynchronous interviews function. It is a full GDPR complaint platform that optimizes candidate management, and tracks progress. It offers insight into project statistics, automates interview scheduling and feedback emails, integrates with recruitment channels and creates professional advertisement in minutes.

With this fresh injection of funds  the startup wants to expand its operations in UK.