Recruitment tech firm in £1.5m boost
ARECRUITMENT technology specialist is set to create 20 jobs and move to a new base on the back of a £1.3m investment.
Shine Interview Ltd, currently based in Sunderland, was launched in 2016 by technology executive David Copple, who has more than 20 years’ experience in the SaaS space.
The video-based recruitment and HR platform offers an end-to-end process for enterprises, SMEs and recruitment firms through live and pre-recorded video interviewing, alongside tools including scheduling, diary management, video CVs and video-based engagement tools.
The business aims to make recruitment easier and the platform has been proven to cut the time and cost of hiring by up to 70%. Shine already has a strong client list including the Royal Navy, the RAF, Reed Specialist Recruitment, Capita Resourcing, University of London, Atom Bank and the NHS, and supports users in 85 countries.
Now the firm has secured £1.3m, which includes a £500,000 investment from the North East Venture Fund, managed by Mercia Asset Management, and £300,000 from Mercia’s EIS Funds.
It also includes a £500,000 investment from the Finance Durham Fund, managed by Maven Capital Partners, established by Durham County Council and overseen by Business Durham.
The investment will enable Shine – whose chairman is Joe Slavin, the former chief executive of fish4jobs and managing director of Monster.co.uk – to ramp up growth by investing in its sales and marketing and R&D, and relocate to County Durham, creating 20 new jobs in the area in the next 18 months.
Mr Copple said: “The recruitment landscape has changed over the last two years with the war for talent intensifying and hybrid and remote working becoming the norm.
“As a result, demand for our video-based tools has soared and this investment will allow us to accelerate our growth plans significantly whilst bringing further innovations to our already world-class platform. I’m hugely excited by this next stage of our journey.”
Ian Wilson, fund principal at Mercia, said: “We’re delighted to further support Shine after making our first investment in 2018 and we are pleased to bring the Finance Durham Fund into the syndicate.
“It’s an exciting time for the business as clients look to integrate technology solutions into their hiring plans.
“We believe the company is well placed to build upon its network of enterprise partners with future growth.”
David Nixon, senior investment manager at Maven, said: “Shine has carved out a solid niche in the marketplace with a well-defined position.
“The business has enjoyed strong growth and is well placed to scale its technology and grow its team following its relocation to County Durham.
“David and the team have built an impressive business and it’s great to work with the North East Fund to provide a finance package that supports the company’s ambitious expansion plans.”
Coun James Rowlandson, portfolio holder for resources, investment and assets at Durham County Council, said: “We are delighted to have been able to invest in Shine through Finance Durham, and also to assist the company to move to County Durham.
“It’s fantastic to support this innovative business as it grows into this expanding area of recruitment.
“We encourage more businesses to follow suit and access the funding opportunities we have available through our Business Durham team to create more and better jobs and contribute towards a strong competitive economy for the future.”