The Selection Lab, a leading developer of cutting-edge assessment technology for applicant screening, has successfully raised €1.25 million in funding.
The Selection Lab, a leading developer of cutting-edge assessment technology for applicant screening, has successfully raised €1.25 million in funding. The investment round was spearheaded by Borski Fund, with participation from existing investor Arches Capital.
This influx of capital will be instrumental in accelerating the company’s technological and sales capabilities, as well as bolstering client acquisition efforts through strategic marketing initiatives. In celebration of this milestone, The Selection Lab is offering a complimentary 3-month period to all new clients who apply in October 2023.
Joeri Everaers, COO and co-founder of The Selection Lab, expressed enthusiasm about the partnership with Borski, emphasizing how it not only fuels revenue growth but also amplifies their impact in the industry.
Laura Rooseboom, Partner at Borski Fund, echoed this sentiment, underlining the investment’s alignment with their forward-looking vision for the future of hiring. She emphasized the importance of prioritizing objectivity, inclusivity, and fairness in the selection process, ensuring organizations can confidently choose the best candidates for their success.
Lotte Welten, CEO and co-founder at The Selection Lab, highlighted the transformative potential of this investment, asserting that it brings them closer to revolutionizing the employee selection process. Their approach focuses on objectivity, professionalism, and an emphasis on the soft skills that truly matter. Additionally, the initiative aims to redefine what it means to be the ‘right fit’ while concurrently enhancing diversity in the workforce.
The Selection Lab, founded in 2018 by the dynamic duo Lotte Welten and Joeri Everaers alongside Jordi Wippert, envisions a future where objective, skill-based hiring methods reshape lives, organizations, and society at large. Their mission is to create a user-friendly, easily implementable assessment technology.
The software developed by The Selection Lab boasts user-friendliness and does not require prior HR experience for operation. It seamlessly integrates with other HR software and exclusively employs scientifically validated tests. A sophisticated data layer offers an objective means to assess candidates’ soft skills, enabling recruiters to compare skill profiles across different candidate groups such as other applicants or high-performing employees.
Since its inception, The Selection Lab has experienced robust growth, witnessing its client base swell from 30 to over 180 in just two years. This surge in funding will undoubtedly further propel their mission to revolutionize the hiring process and usher in a new era of objective, skill-focused recruitment.