Sova raises $9m from Octopus Ventures for international expansion
Octopus Ventures backed the HR tech firm in a growth round to fund global expansion.
≈ £6.6M at $1 = £0.7372 on 2 Feb 2022
Sova develops an enterprise talent assessment platform that provides talent intelligence and workflow management for corporate clients.
Sova has secured $9m in growth funding from existing backer Octopus Ventures to support its international expansion plans. The company provides a configurable talent assessment platform designed to help organisations improve hiring decisions and talent management at scale. The fresh capital will be directed towards geographical growth, platform development, and marketing efforts.
Founded in 2015, the London-based business serves a global client base across multiple sectors. This latest investment follows a previous backing from Octopus Ventures in late 2020, reflecting strong commercial momentum over the preceding twelve months.
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."
Alan Bourne
CEO at Sova
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
