finance

Video interview software business secures £630,000 investment



A Scottish tech-start-up has announced plans to become a global leader in video interviewing after securing a £630,000 investment to scale up its business in key markets.

Willo aims to continue growing the company and grow its presence in the US after receiving the additional funding from ex Freeserve chief operating officer Mark Danby, ex BT talent chief Susan McRoberts, and entrepreneur and Santander global head of digital mobility solutions Jose Ignacio Puente.

The recent investment from the high-profile individuals takes the overall investment in the Glasgow-founded tech firm to more than £1m.

The latest funding round was led by Guernsey-based early-stage tech investment firm 1818 Venture Capital, which also invested in Willo’s previous round.

Marc Cohen, partner at 1818 Venture Capital, will now join the company’s board.

The total investment of £630,000 has already been rubber stamped by HMRC ­and will be used to develop new products, speed up its marketing and grow the 17-strong Willo team with a series of new hires.

Its current growth plans will focus on the USA and Australia, where new team members have already been recruited, as well as expanding in the UK.

Willo is now natively available in French, with more languages – including German, Russian, Dutch and Spanish – on the way.

The tech start-up has claimed to have grown its revenue by 251% on the back of demand across a range of industries. In August the company signed 13 new businesses to the platform everyday with around 49,860 interviews taking place on the platform.

The firm remains on target to grow turnover to £44m by the end of 2025.

Euan Cameron, founder of Willo, believes recorded video will be the next iteration of the cover letter – and it could soon replace the CV completely.

Willo is launching a new one-way video messaging platform in quarter four to enable businesses and candidates to continue the conversation beyond the initial interview

The service is free at first, but companies begin to pay once they reach a certain number of interviews. Jobseekers are not charged.

Euan Cameron, founder at Willo, said: “ He said: “This investment comes at an exciting and crucial time for Willo as we target further expansion in key markets – including the USA and Australia – and the calibre of investor shows the faith that exists in what we are doing.

“Willo unlocks the potential to recruit in any market unbound by geographical barriers, ensuring businesses grow with the right people for part time, permanent or even project-based roles.”

Don’t miss the latest headlines with our twice-daily newsletter – sign up here for free .



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.