In an effort to automate the recruitment and screening process, skill-based hiring platform Equip.co closes a USD 400K pre-seed round from Better Capital. The funds will be deployed towards hiring for product, engineering and marketing roles, and towards onboarding subject-matter experts who will help expand the scope of skills that are currently tested.
As the hiring process shifts online, the number of candidates applying for open positions has increased massively. Recruiters are finding it difficult to identify relevant profiles because they must spend a lot of time manually parsing each CV. Equip claims that, on average, recruiters shortlist only the top 3 per cent of the assessed candidates, and so save 97 per cent of their time.
Commenting on the announcement, Jayanth Neelakanta, Founder and CEO of Equip.co, said, "We are delighted to announce our first round of funding. As the name suggests, we want to equip recruiters with identifying great talent. Equip will not only help companies reduce the time and effort to hire, but also help them look beyond CVs and pedigree, and focus on candidates’ skills. We are confident that our significantly simpler UX and the variety of roles we test for will prove to be competitive advantages.”
“We are making skill assessments 100X easier with Equip and putting it everywhere it’s needed without forcing users to go on different workflows and journeys. We are excited to be the founding stage partner to Equip” said Vaibhav Domkundwar of Better Capital.