Canditech, a Tel Aviv, Israel-based startup enabling companies to accurately assess job candidates with an online job-simulation platform, raised $9m in seed funding.
Insight Partners, a global investor in software, led the round. StageOne Ventures was also involved.
The funds will be used by the company to expand into new markets.
Co-founded by Guy Barel, Knaan Braz and Nir Dovrat, Canditech helps companies hire people, faster, while giving every candidate a fair chance to showcase their skills. Candidats can see the company and the future roles by using work-samples that are custom-made to simulate each position. This allows them to get a feel for the daily work environment such as writing code, analyzing Excel data, writing emails to clients and optimizing marketing campaigns.
Canditech’s solution presents a win-win situation for both the company and its candidates. The platform allows hiring managers the ability to create simulations that are tailored to their roles. They can also invest their time in candidates who have the best chance of succeeding in their role using advanced technology that automatically reviews and scores tests objectively. At the same time, candidates are given the opportunity to “sample” the positions at an early stage in the process, which dramatically reduces the chances for poor hiring decisions and turn-over.