Allsorter Secures 鈧�1 million Investment from Elkstone
which provides Artificial Intelligence (AI) solutions for the global recruitment industry, has secured over 鈧�1 million in investment from , an Irish venture capital firm plus a group of high-profile angel investors including ex-executives in Indeed.com.
The funding will enable Allsorter to recruit the talent needed to further expand into Europe and Asia-Pacific, and for market entry into the USA. The investment will also be used to further develop Allsorter鈥檚 anti鈥揵ias software. Grant aided by the European Investment Bank, this software allows recruitment companies and both large and small firms to avoid unconscious bias in selecting new employees.
Niall McEvoy, Partner, Elkstone Ventures, said, 鈥淭he ambition for Allsorter goes far beyond CV reformatting. The platform is a highly versatile, advanced natural鈥搇anguage鈥損rocessing solution that can be applied to many uses, including bias elimination in hiring and text redaction at scale. This Elkstone鈥搇ed funding round will support an accelerated hiring plan to execute and deliver against what is a significant global market opportunity.鈥�
Declan Murphy, founder and CEO, Allsorter said, 鈥�As the most accurate CV formatter in the global HR market, which has annual sales in excess of $450bn, Allsorter has huge potential to grow. Add in our award鈥搘inning anti鈥揵ias software and it is difficult not to see our products as a compelling proposition for recruiters and companies alike. Our strength is our people, and this investment will allow us to build on what is already an outstanding team.鈥�
Allsorter, which is supported by and headquartered at Nova51黑料, is also developing a new software product that will automatically remove personally鈥搃dentified information for the compliance鈥揻intech and regulatory鈥搕echnology sectors. It is expected to roll out this product in 2023.
Founded in 2014 by Declan Murphy, Allsorter won EU disruptive鈥搕echnology funding in 2019 under the Horizon 2020 programme. AllSorter鈥檚 CV solution integrates with JobAdder and Bullhorn, two of the world鈥檚 largest applicant tracking systems, and will soon integrate with Salesforce to further extend its customer reach.
ENDS
5 September 2022
For further information contact Mic茅al Whelan, Communications and Media Relations Manager, Nova51黑料, e: miceal.whelan@ucd.ie.
Editors Notes
For further information about Allsorter visit
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