Arctic Shores secures £4.5m Series A funding led by Beringea to drive international expansion
Beringea leads Series A investment into the Manchester psychometric assessment provider.
Arctic Shores provides psychometric assessment technology that uses cognitive neuroscience to evaluate candidates based on potential and soft skills. The Manchester-based firm helps employers improve workforce diversity and identify talent beyond traditional CV screening.
Manchester-based psychometric assessment provider Arctic Shores has secured £4.5m in a Series A funding round. The investment was led by transatlantic venture capital firm Beringea, with participation from existing backer Candy Ventures. The capital will be deployed to accelerate the company's international expansion and launch a new software-as-a-service platform.
Founded by Robert Newry and Safe Hammad, the company leverages neuroscience and artificial intelligence to replace traditional questionnaires with engaging behavioural tasks. Since its inception, Arctic Shores has assisted more than 140 organisations across 40 countries, with international revenue accounting for nearly half of its total turnover. The latest injection brings the total capital raised by the firm to $10m.
From the founder
"Arctic Shores has a clear mission to enable companies to be more objective and broader in their selection of applicants and foster an assessment process that provides a fairer evaluation of people from different backgrounds and socio-economic groups."
Safe Hammad
at Arctic Shores
Investor perspective
"Safe, Robert and the exceptional team at Arctic Shores have built an international success story from the heart of Manchester, demonstrating the pressing need for a new approach to recruitment processes that fosters greater diversity and better hires for organisations around the world."
Marc Shirman
Investment Director and Head of the Manchester office, Beringea
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
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About the company
Arctic Shores
Arctic Shores provides psychometric assessment software that evaluates candidate potential and soft skills.