Allsorter, which provides AI solutions for the recruitment industry, has secured investment of more than €1m from Elkstone Ventures, an Irish venture-capital firm, and a group of high-profile angel investors including former executives of Indeed.com.
The new funding will be primarily used to help Allsorter recruit the talent needed to further expand into Europe and Asia Pacific, and for market entry into the US.
The investment will also be used to further develop Allsorter’s anti-bias software. Grant-aided by the European Investment Bank, it allows recruitment companies and employers to avoid unconscious bias in selecting new employees.
Niall McEvoy, venture partner at Elkstone Ventures, said: “The platform is a highly versatile, advanced natural-language processing solution that can be applied to many uses, including bias elimination in hiring and text
redaction at scale.
“This Elkstone-led funding round will support an accelerated hiring plan to execute and deliver against what is a significant global market opportunity.”
Declan Murphy, founder and CEO of Allsorter, said: “Our strength is our people and this investment will allow us to build on what is already an outstanding team.”
Allsorter, which is supported by Enterprise Ireland and located in Nova UCD, is also developing software for the compliance-fintech and regulatory-technology sectors.
Founded in 2014, Allsorter won EU disruptive-technology funding in 2019 under the Horizon 2020 programme.