Glasgow software firm wins £630,000 backing

GLASGOW-BASED recruitment technology firm Candidate.id expects to create jobs in the city after raising £630,000 from investors against a challenging market backdrop.

Candidate.id will use the funding provided by Blackfinch Ventures to support a push for growth.

The company has developed software that allows firms to scan social media for suitable recruits and then to cultivate links with them.

Chief executive Adam Gordon reckons the prospects for Candidate. ID to win business are good although the outlook for the economy is mired in uncertainty amid the fallout from the coronavirus.

He expects demand for technology that can help firms automate processes is likely to increase.

Candidate.id has enjoyed an increase in enquiries in recent weeks from firms working in sectors such as biotechnology and pharmaceuticals.

The existing customer base includes BUPA, Specsavers and life sciences company

Thermo Fisher Scientific.

The firm increased sales in the first quarter of the current year compared with the same period of 2019.

It is on course to grow revenues to £1.3 million this year from £905,000 in 2019.

Mr Gordon expects Candidate.id to recruit around eight staff to work in its sales and software development teams in coming months.

The company employs 15 people in Glasgow and three in India currently.

Mr Gordon said the fund-raising was completed on schedule. He noted: “The team at Blackfinch Ventures really believe in our people, technology and business plan.”

Reuben Wilcock of Gloucester-based Blackfinch said the investment firm was impressed by Candidate. ID’S technology and the fact the business had already achieved global traction.

Candidate.id raised £1,000,000 from investors based in a range of countries last year.