Artic Shores secures $5.5m from Beringea to drive international expansion
The funding round was led by Beringea with participation from existing investors.
≈ £4.5M at $1 = £0.8166 on 4 Sep 2019
Artic Shores is a Manchester-based psychometric assessment provider that uses game technologies and neuroscience to evaluate candidate traits.
Artic Shores has secured $5.5m in a funding round led by Beringea, alongside participation from existing backers. The Manchester-based psychometric assessment provider will direct the capital towards accelerating its international expansion, as overseas markets currently generate nearly half of its revenue.
The firm combines neuroscience, data analytics, and gaming technology to evaluate candidate traits and skills for employers. Its platform has already been tested with half a million applicants.
Beringea stepped in to support the company's growth and international scaling efforts. This latest injection brings the total capital raised by the business to $10m.
From the founder
"Our rapid growth in the UK and internationally has demonstrated the vast demand for a step change in the way millions of people are selected for roles. Beringea will provide vital support and expertise in scaling international software companies to help us realise our vision."
Safe Hammad
CTO and co-founder at Artic Shores
Investor perspective
"Beringea has backed the vision and innovation of one of the North of England’s leading technology companies, inspired by a pioneering approach to combining neuroscience, data analytics and game technologies. This investment will play a vital role in bringing this pioneering platform to millions of applicants worldwide."
Marc Shirman
investment director and Head of the Manchester office, Beringea
Use of funds
- 01Expand into international markets
Investors
Categories
About the company
Artic Shores
Artic Shores provides psychometric assessments for candidate evaluation using neuroscience and game technology.