Recruitment Startup Circular Raises $10 Million, Set to Enter UK Market

Spanish recruitment startup Circular has successfully raised $10 million in the latest funding round. While the capital injection will be primarily utilized to expand into the UK, funds will also be allocated to enter other markets in the European region. 

Circular predominantly focuses on the tech industry. Its services provide companies of all sizes with access to talent that is pre-vetted by in-house recruiters at fast-growing organizations. 

Thus far, no official word has been provided on the stage of funding or the timeline regarding when the $10 million was raised. 

However, some of the investors include Kibo Ventures, All Iron Ventures, Kima Venture, Shilling, Quentin Nickmans, LocalGlobe, and Point Nine. 

SEE ALSO: DoorDash Announces Plans to Acquire Hospitality Tech Startup Bbot

How is Circular addressing the challenges with traditional recruitment?

The arrival of the pandemic has disrupted how many companies hire new resources. However, recruitment startups such as Circular have emerged to address the different challenges in the hiring process, especially in the tech industry. 

Circular provides a platform that allows in-house recruiters at tech firms to share candidates with each other. 

The idea here is very simple. If a company has not hired a specific candidate for whatsoever reason can recommend that candidate to other hiring professionals. 

With this model, candidates get another chance to get hired by another organization while maintaining the flow of talent across the tech industry. 

In the traditional recruitment process, a candidate reaches a dead end if they are rejected for the role or if the role is filled by some other candidate. This leaves a lot of candidates hanging, leaving them to start the entire process of looking for a job all over again. 

This is where Circular enters the fray. It offers recruiters an excellent platform to share candidates with each other offering a ‘circular economy’ approach to recruitment with talent sharing. 

According to Circular, building such kind of a recruitment network boosts candidate conversion by at least 10 times. 

Teo Ruiz, CTO, Circular says that there is a dearth of tech talent, which is why a lot of companies are finding it difficult to recruit the best talent. However, with Circular, they can join hands with each other and maintain a decent flow of talent across the industry. 

Circular’s network leverages the power of trusted peer recommendations to create an effective and faster way to look for the best talent. 

SEE ALSO: Softbank Capital Infusion Takes E-commerce Firm Fabric’s Valuation to $1.5 Billion

Feature Image Source: rawpixel.com

 

Karandeep V

Karandeep was born in Pune, Maharashtra, an upcoming metropolitan city in the Western region of India. While most members of his family are engineers, he had different ideas. He was more inclined toward exploring the non-technical aspects of a business, which is why he studied Bachelors of Business Administration at Symbiosis International University, Pune.  Having said that, his love for new and upcoming technologies remained intact, which is why he has written extensively about technology throughout his career. After a brief stint with a gaming company at the beginning of his career, he discovered that his love for writing was not temporary.  Being a tech geek, he always liked installing and playing around with new applications on his mobile devices and the home desktop. He was fascinated by how technology can simplify even the most mundane and complex tasks with just a few commands. He keeps a close eye on how businesses use different tools to streamline their operations to boost productivity and efficiency.  At ToolsMetric, he writes product reviews that cover the main features and specifications of different enterprise applications. The sheer amount of innovation and hard work that goes into building these tech solutions is one of the reasons why Karandeep loves reviewing these tools. Besides product reviews, he also writes interesting news articles and blogs that track the latest developments in the tech industry.  When he is not writing, you can find him rooted to his seat playing video games, watching movies, or supporting his favorite football team. Since his childhood, he has always loved to travel and explore new places. Traveling is a major part of his life due to a myriad of reasons such as experiencing new cultures, food, and traditions. His other hobbies include playing football, cooking, and running.  You can find him on LinkedIn here.

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