Alva Labs, a Stockholm-based start-up aiming to make recruitment bias-free, fair and diverse, has raised €11.7m (series A) funding to expand into the UK market.
The round was led by VNV Global, with Tomas Lindén (Global Head of HR at H&M ) and other leading investors. The funding will allow Alva Labs, a digital hiring tool that helps recruiters qualify and compare job candidates objectively; using data and science, to fuel their international expansion, particularly in the UK. The bias-free tool also ensures objectivity, promoting equality in the screening process and increasing diversity in candidates.
Alva Labs helps companies like Deloitte, Northvolt, Voi and Daniel Wellington find the best candidates for jobs; by removing the usual biases of conventional recruitment strategies. Currently comprising 60 staff members, the firm plans 40 more hires before the end of the year.
BIAS-FREE & FAIR JOB MARKET
“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,” stated Alva Labs CEO and Co-founder Malcolm Burenstam Linder. “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. We’re delighted to welcome our new investors, who will play a vital role in helping Alva Labs expand into the UK job market; so that we can make it a more diverse and bias-free place.”
Adding to his comments, Per Brilioth, CEO at VNV Global, said: “At its very core, Alva Labs believes in a bias-free, fair job market for all. The company is transforming the way that businesses recruit their employees; streamlining and improving processes while simultaneously boosting employee retention. We have been continuously impressed by their growth and vision to date. And with such a talented leadership team at the helm, we look forward to seeing their global expansion; and being part of that exciting journey”.
LGBTQ+ business platform myGwork also recently secured £1.6 million in its latest funding round to continue with its international expansion plans. Click here to read more.
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