The Swedish automated social recruitment marketing tool, Adway has acquired €10 million in a Series A funding round from London-based Octopus Ventures.
It enables talent and recruitment executives to attract talent at scale and speed. Additionally, previous investors Brightly Ventures and Spintop Ventures took part.
The goal of Adway is to use technology to address the biggest hiring problems in the world.
The fresh funds will be utilized to advance and scale Adway’s platform, expand the product line, and support further global market expansion.
“Adway’s talent acquisition platform combines best-in-class digital advertising capabilities with a strong understanding of recruiting and talent acquisition,” said Adam Said, Investment Manager at Octopus Ventures. We were pleased by Adway’s experience in both digital advertising and HR-Tech, and we do not doubt that the company will dominate its sector thanks to the team’s drive and wisdom.
“Our clients report a rise in diverse and pertinent applications, and they can create long-lasting talent pipelines that provide them the ability to keep telling compelling stories about their employer brands. With this investment, we can strengthen our automated processes and quicken the creation of our range of goods, including intelligence and data-driven insights, according to Adrian McDonald, CEO of Adway.
For organizations around the world, the difficulty in locating and attracting outstanding personnel is becoming a bigger issue. Additional challenges to this situation include the fierce competition and the talent gap that is widening. There is an increase in the usage of social recruitment platforms as millennials and Gen Zs rely on social media to establish trust with potential employers and flexible working has become popular in the post-pandemic era.
Adway is a technology-based company that was founded in 2018 in Sweden by Richard Sörensson and Viktor Nord. The team is diverse, with 35.8% women. It blends knowledge, automation, cutting-edge machine learning technologies, and social media job posting. Adway uses technology to make talent acquisition easier, more effective, and smarter.
With the help of Adway’s innovative recruitment marketing platform, candidates may be attracted quickly and in large numbers. Their innovative solution reduces the cost per hire, increases the depth and diversity of social talent pools, and eliminates the need for conventional methods and tools for talent recruitment and acquisition.
It is renowned for delivering the highest levels of customer and market performance and gives clients throughout the world access to a broad range of skills, from hiring to attraction. To continually identify the most efficient journey for each applicant, its smart platform dynamically integrates digital and programmatic advertising technologies with branded ad content. Additionally, it eliminates the need for pricey sourcing tools and lowers the cost per employee.
Image Credit: Adway