Tech1M Raises $750K to Revolutionize Talent Acquisition
Tech1M, a recruitment intelligence platform, has successfully raised $750K in pre-seed funding to revolutionise the talent acquisition landscape. Led by co-founders Tommie Edwards and Damilola Ogunmoye, Tech1M is at the forefront of integrating human expertise with advanced AI technology to address critical challenges in the recruitment industry. Tech1M’s approach leverages human-AI augmentation workflows to streamline the entire recruitment process. By moving beyond simple automation, the platform reimagines hiring as an AI-led process that works in full synergy with human recruiters. This shifts the focus from tedious process steps to impactful outcomes, addressing the longstanding issues of volume overload and administrative burdens that have historically hindered meaningful connections with candidates.
The platform’s unique human-AI augmentation strategy aims to significantly reduce hiring costs, improve the quality of hires, and accelerate talent acquisition.
This comes at a crucial time, as recent reports highlight persistent challenges in the job market: Currently, 37% of UK employers have “hard to fill” vacancies, and 29% expect significant hiring challenges in 2024 according to the CIPD report. This ongoing issue has led 45% of SMB retailers to hire candidates with less skill, experience, or education than desired, as highlighted in a Capterra report. Tommie Edwards, the CEO of Tech1M, explains why they created the company; “Using traditional recruitment platforms, I’ve always felt a lack of intentionality in the craft of software in helping you find great talents."
The pre-seed funding round was led by SFC Capital and Techstars, both known for their strategic investments in high-potential startups. Ed Stevenson, Investment Executive at SFC Capital, expressed enthusiasm for Tech1M’s vision: “We’re excited to back Tommie & Damilola on their journey to make recruitment processes more efficient and effective through human-AI augmentation. Their passion and experience really impressed us and we look forward to seeing the significant impact Tech1M will have in the recruitment space.” As Tech1M continues to grow its platform, the company is well on its way to democratise access to future-facing recruitment tools and promote more equitable hiring practices. By addressing the inefficiencies and biases inherent in traditional recruitment methods, Tech1M is not just improving the hiring process—they want to completely change how the world finds new talent.
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