Sova Assessment secures £6.7m Series A investment from Octopus Ventures to fund international growth
Octopus Ventures backed the London-based talent assessment software provider in a Series A round.
Sova Assessment provides a cloud-based enterprise talent assessment platform designed to improve decision-making across recruitment and employee development. The firm combines psychometric science with workflow management tools to support organisations globally.
Sova Assessment has secured £6.7m in a Series A funding round from returning backer Octopus Ventures. The London-based HR tech company will direct the capital towards accelerating its international expansion and developing its proprietary talent assessment platform. This latest injection follows previous backing from the same investor in late 2020, underlining continued confidence in the firm's growth trajectory.
From the founder
"I am delighted to continue our journey with Octopus Ventures which from the outset, shared our vision to help customers digitise and make fairer, more effective decisions about talent. At a time when organisations are facing significant talent challenges, whether that’s COVID, skills shortages, the impact of technology on jobs or upskilling the workforce, it’s clear that legacy approaches are no longer fit for purpose. Our enterprise assessment platform helps customers make better decisions about talent without compromising fairness, efficiency or candidate experience."
Alan Bourne
CEO at Sova Assessment
Investor perspective
"With their deep expertise and experience, we have been impressed by how well Alan and his team have helped customers streamline and enhance their talent assessment processes. Sova is leading and transforming the assessment industry, meeting increased global demand for a more integrated, strategic approach to assessing talent that is even more relevant now than it was when we first invested. We first provided growth funding to Sova in November 2020 and due to the rapid growth of the business, we are excited about further supporting Sova."
Paul Davidson
Principal, Octopus Ventures
Use of funds
- 01Expand into international markets
- 02Continue product development
- 03Invest in sales and marketing
Investors
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About the company
Sova Assessment
Sova Assessment provides a digital platform for enterprise talent assessment and analytics.