Alva Labs, a 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, with Tomas Lindén and other leading investors participating.
Alva Labs CEO and Co-founder Malcolm Burenstam Linder commented: “Recruiters are constantly faced with the impossible challenge of knowing what to look for in a job applicant. When individual notions of what is ‘good’ or ‘employable’ about a candidate are applied, the process can fill with unconscious bias and prejudice. Alva Labs provides a solution to this by ensuring objectivity for both recruiters and candidates. This means the right people get the right jobs, which is particularly relevant right now, as the Great Resignation is causing a mass exodus of employees worldwide.”
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.
The company intends to use the funds to accelerate international expansion, with particular emphasis on building the UK-based team and product development.
Announcement: Alva Labs Raises $13.3M for Digital Hiring