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Haystack | Haystack Wins £1M In Funding To Revolutionise Tech Recruitment

Haystack, a Newcastle-based tech startup, at the moment has introduced that it has raised £1 million in seed funding. The funding permits Haystack to increase their territory attain and with superior matching know-how, assist extra corporations and “techies” to rent well and discover their perfect roles respectively. Mike Davies, Co-founder and COO mentioned: “This is a really exciting time for Haystack. This funding will allow us to continue the incredible growth we’ve seen since we officially launched in November 2020”.

Founded in 2019, Haystack is a careers and insights market targeted on offering alternatives for these in knowledge, design and engineering. The firm’s algorithm matches roles with customers primarily based on a wide range of touchpoints – to make sure employers aren’t supplied with unsuitable candidates, and customers aren’t proven unsuitable alternatives.

Haystack's Co-Founders

Haystack’s Co-Founders

Haystack permits companies to extra effectively rent for his or her tech groups by eliminating the necessity for, typically costly, tech recruiters and saving on sources internally.

The concept behind Haystack attracted entrepreneur Dan Smyth, former Managing Director of Bede Gaming, now lead investor. Since the start of lockdown, Haystack has trebled its headcount and plans to proceed this trajectory into the subsequent 12 months.

Haystack is now attracting curiosity from throughout the UK and is working in partnership with industry-leading corporations together with Sage, Hive and Bottlepay.

“Hiring technical rockstars is incredibly tough and often they’re not active on the job market. Haystack allows them to anonymously search, uncover and gain insight to their tech landscape.” mentioned Dan Smyth, lead investor. “Half the customers are simply curious and never searching for a job and these are the techies that conventional recruitment strategies won’t ever discover. This probably the most engaging space for me as an investor, making a platform to assist passionate techies discover probably the most attention-grabbing work attainable. It’s the muse for any nice software program enterprise.

“The founding crew at Haystack is that hard-to-find mixture of technical, digital and real-world experience with a imaginative and prescient to disrupt a big {industry}, the place the technologist is the star of the present.”

“Investing was a simple decision. It’s highly scalable, highly relevant and solves real-world problems for all users. Working together so far has been invigorating over lockdown, combining my passions for tech and scale-ups. They work out of my Gosforth office, along with Xbim and Aspect two businesses I’ve invested in recently.”

Part of the funding comes from the Government’s “Future Fund” scheme. The Future Fund was launched to help pre-revenue, pre-profit progressive companies with loans of between £125,000 and £5m, following issues that traders had been reluctant to supply help because of the pandemic. The newest figures from the Government present that the North East obtained £25m in funding.

Co-founder and CEO, Chris Bone mentioned: “We’ve been delighted with the success we’ve had to this point. What has been completely clear from chatting with the tech neighborhood is the true urge for food for a special and disruptive method to tech expertise attraction.

“To have already secured 30 partnerships, together with Sage, Hive and Bottlepay, provides me nice confidence that our product scales throughout the U.Okay. and past.”

About Haystack
Tech startup Haystack is a careers and insights market for these working in engineering, knowledge and design. Haystack saves time and sources for employers by permitting them to construct their very own expertise pool of engaged customers, and be matched to appropriate candidates primarily based on their particular person standards. This good matching standards additionally permits techies to filter out the noise and discover their perfect roles. Haystack was based in 2019 by CEO Chris Bone, COO Mike Davies and CTO Rob Simmons.

Alice Pinch

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