11 Oct Dutch startup The Selection Lab raises €1.25M for further development of its assessment technology
The Selection Lab, a Dutch start-up with state-of-the-art assessment technology, has raised €1.25M in a recent investment round, reflecting the searing investor interest and market demand for user-friendly assessment software. The round is led by Borski Fund, and joined by a current investor Arches Capital.
Founded by the married couple Lotte Welten (CEO) and Joeri Everaers (COO), and joined by Jordi Wippert (CTO), The Selection Lab has accomplished to break through the issues of complexity, pricing, and bad user experience that continue to stigmatise objective screening methods. The software developed by The Selection Lab is easy-to-use without prior HR experience, can be integrated with other HR software, and uses only scientifically validated tests. A smart data layer provides an objective way to analyse the soft skills of candidates. The layer allows recruiters to compare the skill profiles of candidates to different groups such as other applicants or best performing employees.
Since its founding in 2018, The Selection Lab is set on a constant growth path. The client base has expanded from 30 to over 180 over the last two years, and the traction unquestionably proves that The Selection Lab has developed a software that meets the demands of a highly versatile market. The investment will contribute towards the expansion of the tech and sales, as well as boosting client acquisition through marketing.
“Due to our partnership with Borski, not only are we able to continue to grow our revenue, but also double down on impact,” said Joeri Everaers, COO and co-founder of The Selection Lab.
Laura Rooseboom, Partner at Borski Fund, viewed the benefits of the investment in a similar light: “Investing in The Selection Lab highlights our vision for the future of hiring – one that prioritises an objectivity, inclusivity, and fair process to ensure that organisations can confidently choose the best candidates for their success. This aligns with our core values of innovation, diversity, and the pursuit of excellence in finding the right individuals for organisations.”
The Selection Lab was built on the belief that by objectively matching the right people with the right roles through skill-based hiring changes lives, organisations, and even society as a whole. “With this investment, we’re one step closer to revolutionising the selection process of employees – making it more objective, more professional, and more focused on the soft skills that truly matter,” Lotte Welten, CEO and co-founder at The Selection Lab, adds. “Together, we will redefine what it means to be ‘the right fit’ and boost diversity at the same time.”
To celebrate the remarkable next step, The Selection Lab is offering a free 3-month period for all new clients that apply in October 2023.
About The Selection Lab
The Selection Lab is an Amsterdam-based developer of assessment technology to screen applicants. Since 2018, the founders Lotte Welten (CEO),Joeri Everaers (COO), and Jordi Wippert (CTO), have helped envision an objective, skill-based hiring method that is both user-friendly and easy to implement. The team believes that objectively matching the right people with the right roles reshapes lives, organisations, and even the society as a whole. Focusing on the soft skills of candidates, and using a smart data layer to provide insights about the candidate profiles vis a vis the current employee base, The Selection Lab allows companies to answer the million dollar question: which soft skills determine the success of employees within my organisation?
The Selection Lab has been awarded the best e-assessment in the Recruitment Tech 35 of 2023.
About Borski Fund
Borski Fund is an innovative Venture Capital Fund founded by the dedicated duo of Simone Brummelhuis and Laura Rooseboom in 2019. With an initial commitment of €21M, and current fund size of €40M through multiple closings, Borski Fund continues to ease the access of inclusive and gender diverse start-ups to capital. The Fund continues to provide driven entrepreneurs the key to a vast world of growth opportunities and success stories.
Borski Fund will attend the upcoming edition of Web Summit, which takes place in Lisbon from November 13-16 2023.
About Arches Capital
Arches Capital is an Angel Syndicate of 100+ business angels, that is bridging the gap between venture capitalists and business angels. They act like a VC and engage, care and inspire as the angels they are. The angels in the syndicate are seasoned entrepreneurs and experienced angel investors. Arches Capital invests in entrepreneurs that build generation proof B2B software companies, through empowering the entrepreneurs and by accelerating the growth of their companies. They now have a portfolio of 17 B2B software companies and support its portfolio companies from initial investment all the way to a successful exit.