Cardiff-based Talent Ticker, which has developed an artificial intelligence based platform to help recruitment agencies identify the hiring intentions of employers, has secured a £1.5m investment boost.
In one of the biggest ever seed funding rounds for a start-up in Wales, it has been backed through venture investment and business angels.
The identity of the funders have not been disclosed.
Having launched its live platform in the summer, Talent Ticker has already secured an impressive enterprise client list of recruitment agencies across the UK, the United States and Germany.
This seed funding will allow the start-up to further develop its machine learning technology and hire more research and development , as well as sales and customer facing staff.
With 110,000 people employed in the £35.7bn UK recruitment industry, recruitment technology is set to become a major growth sector.
Talent Ticker uses machine learning technology to scour recruitment news, insights and job postings to predict when companies will be hiring and releasing staff. This enables staffing professionals to get ahead of the market, save time, and increase the quality of their operations.
Aled Jones, Talent Ticker’s head of technology: “Since launching Talent Ticker, we are beginning to see recruiters look closely at how they can use technology to improve their working life.
"We are not trying to use AI to replace recruiters, but we are focused on creating easy to use tools that enable recruiters to build better relationships, cut out inefficiencies and ultimately make more money.”
The firm's chief executive Nick Vaughan, said: “This is a fantastic opportunity to continue on the early successes we have had and to now double down our efforts in being able to predict staffing trends.
"Our goal is being the Bloomberg for recruitment, and this investment will allow us to expand our 22-person team in Central Cardiff, enabling us to improve our AI and move into new markets and geographies.”
