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Haystack Wins £1M In Funding To Revolutionise Tech Recruitment

Haystack, a Newcastle-based tech startup, immediately has introduced that it has raised £1 million in seed funding. The funding permits Haystack to develop their territory attain and with superior matching expertise, assist extra corporations and “techies” to rent well and discover their very best roles respectively. Mike Davies, Co-founder and COO mentioned: “This can be a actually thrilling time for Haystack. This funding will permit us to proceed the unbelievable progress we’ve seen since we formally launched in November 2020”.

Based in 2019, Haystack is a careers and insights market centered on offering alternatives for these in information, design and engineering. The corporate’s algorithm matches roles with customers based mostly on quite a lot of touchpoints – to make sure employers aren’t supplied with unsuitable candidates, and customers aren’t proven unsuitable alternatives.

Haystack’s Co-Founders

Haystack permits companies to extra effectively rent for his or her tech groups by eliminating the necessity for, usually costly, tech recruiters and saving on assets internally.

The concept behind Haystack attracted entrepreneur Dan Smyth, former Managing Director of Bede Gaming, now lead investor. For the reason that starting of lockdown, Haystack has trebled its headcount and plans to proceed this trajectory into the following yr.

Haystack is now attracting curiosity from throughout the UK and is working in partnership with industry-leading corporations together with Sage, Hive and Bottlepay.

“Hiring technical rockstars is extremely robust and sometimes they’re not energetic on the job market. Haystack permits them to anonymously search, uncover and acquire perception to their tech panorama.” mentioned Dan Smyth, lead investor. “Half the customers are simply curious and never on the lookout for a job and these are the techies that conventional recruitment strategies won’t ever discover. This essentially the most engaging space for me as an investor, making a platform to assist passionate techies discover essentially the most fascinating work potential. It’s the inspiration for any nice software program enterprise.

“The founding group at Haystack is that hard-to-find mixture of technical, digital and real-world experience with a imaginative and prescient to disrupt a big {industry}, the place the technologist is the star of the present.”

“Investing was a easy determination. It’s extremely scalable, extremely related and solves real-world issues for all customers. Working collectively up to now has been invigorating over lockdown, combining my passions for tech and scale-ups. They work out of my Gosforth workplace, together with Xbim and Side two companies I’ve invested in just lately.”

A part of the funding comes from the Authorities’s “Future Fund” scheme. The Future Fund was launched to assist pre-revenue, pre-profit modern companies with loans of between £125,000 and £5m, following considerations that buyers have been reluctant to supply assist as a result of pandemic. The newest figures from the Authorities present that the North East acquired £25m in funding.

Co-founder and CEO, Chris Bone mentioned: “We’ve been delighted with the success we’ve had up to now. What has been completely clear from chatting with the tech neighborhood is the actual urge for food for a distinct and disruptive strategy to tech expertise attraction.

“To have already secured 30 partnerships, together with Sage, Hive and Bottlepay, provides me nice confidence that our product scales throughout the U.Okay. and past.”

About Haystack
Tech startup Haystack is a careers and insights market for these working in engineering, information and design. Haystack saves time and assets for employers by permitting them to construct their very own expertise pool of engaged customers, and be matched to appropriate candidates based mostly on their particular person standards. This good matching standards additionally permits techies to filter out the noise and discover their very best roles. Haystack was based in 2019 by CEO Chris Bone, COO Mike Davies and CTO Rob Simmons.

Alice Pinch
[email protected]

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