London-based TalentMapper, a platform helping identify and develop the skills within an organisation, has raised £2m from Mercia Ventures and Haatch.
The 18-month-old startup has already attracted clients including Dunelm, Danone and Mountain Warehouse and achieved ARR of over £700,000.
The funding will enable the company to enhance the platform, expand its team and continue its rapid growth.
TalentMapper is designed for businesses with over 250 employees and says that it acts as a ‘satnav’ for career development.
Its aim is to reduce the cost of recruitment and training, and helping to ensure equal access to career opportunities.
TalentMapper was founded by Martin Mason, a HR professional who had held senior roles at The Body Shop, Wolseley and Halfords, and borne out of his frustration at trying to manage and upskill a global workforce using spreadsheets.
He joined forces with current CTO Carl Tucker, who has a background in software design and development, to develop the platform.
TalentMapper incorporates AI and machine learning and has been trained on 675 million career histories to date.
“We wanted to make it easier for companies to manage global talent and ensure they have the right people in the right place at the right time,” said Mason.
“The funding will enable us to build our team to cope with growing demand, add new features to enhance the platform and scale for growth by targeting other sectors including financial and professional services.”
Stephen Windsor, Investment Director with Mercia Ventures, added: “The need to optimise the skills of the workforce has never been more important. TalentMapper is a forerunner in the emerging field of SkillTech which aims to address these challenges.
“It has achieved remarkable growth in a short space of time which demonstrates the demand within the market and the value it provides to employers. We are pleased to help Martin and Carl as they scale the business and roll it out to a wider audience.”
Harry Pearson of Browne Jacobson provided legal advice to Mercia Ventures.