Saberr, which is a London startup that tries to help organization to recruit the right people for their organizations, has raised an amount of £1 million in a funding round which is led by the one of the largest Angel Co-Fund.
Total funding in the three year-old Shoreditch startup, which is founded by Harward University Students Sam Mead and Alistair Shephard, now stands at $2.63 million which is roughly £1.85 million.
The new funds will be used to market Saberr's algorithm and build out the product to help out the firms in a more ease way. Shepherd told in a statement that that Saberr's “people analytics” technology is underpinned by data and mathematics.
“We build software that helps teams work well together,” said Shepherd, who graduated from the University of Southampton with a masters degree in aerospace engineering. “It forecasts team and business performance by analysing human behaviour.”
Some of the largest Fortune companies like Microsoft, Coca-Cola, Deloitte, Bank of Ireland and Virgin has used Saberr's software to assess if a new hire will work well within their firms.
“We can forecast potential performance of candidates before they join the business and we can advise you on how to reshuffle your teams,” said Shepherd. “We can tell you which sales teams will make more money and why. We look at the softer side of human behaviour and their tolerance for other people.”
“This money is to plough into our growth,” said Shepherd. “We've got 100 product extensions that we're planning on building.
Saberr works with businesses of all sizes but its focus is currently on big businesses. “We're targeting large enterprises that have hundreds of thousands of people where small changes have massive impacts across the business,” explained Shepherd.
Tim Mills, investment director at Angel CoFund, said in a statement: “The team behind Saberr has built a truly innovative and intelligent technology, which helps tackle that most pertinent of questions in a world where the primary structure of working is increasingly the team – how can we predict whether individuals will work well together?
“This behavioural economic approach to HR, combined with Tom and Alistair's vision for the business, really makes this an exciting investment opportunity. The team's successes to date with the likes of Coca-Cola and Microsoft are a great springboard and we're looking forward to working together in the coming months.”