Codility allocates $22M for its tech hiring platform
Codility is a program that assists tech recruiters and hiring supervisors asses applicants through online coding examinations.
It has recently announced that it has allocated a $22 million Series A round managed by Oxx and Kennet Partners.
Why Did Codility Raise Money?
This indicates the first time Codility has allocated any funding, after ten years as a bootstrapped company.
Indeed, though, despite having accomplished a double-digit yearly recurring revenue in those ten years, the team presently believes that it has a chance to increase its market share in what is growing into a more competing market for tech hiring platforms — and to do so, it requires outside funding.
So far, the company has taken on an extraordinary list of customers, including Microsoft, Tesla, Slack, Okta, Rakuten, American Express and UnitedHealth Group.
In total, the company states that it had 1,500 consumers in 2019 and assisted them in evaluating more than 450,000 applicants, a number the company says has increased over 50% year-over-year.
What puts Codility aside from comparable platforms is that it strives to give coding tests that are more alike to what engineers typically encounter in their day-to-day duties instead of extremely abstract whiteboarding sessions that assess their theory of algorithms information.
What Is Codility?
The company states that its system enables it to give recruiters with a “360-degree evaluation of technical skill” that assists managers to ensure that an applicant is an excellent fit for a given job.
Ideally, this further decreases the effect of inattentive bias in the recruiting and employment process.
As a component of its platform, Codility provides its technical abilities and evaluation assistance for recruiters, including an experienced editor for live technical interviews.
In extension, the company additionally supports companies run their coding contests, which they can then utilise to recognise potential applicants, including those who are not actively seeing for a new job.
Vicky Xiong, the senior manager of Engineering at Okta, said that Codility is an excellent resolution for hiring teams based on the requirements of quality high-volume hiring; such as flexibility, uniformity and scalability.
He further said that Codility moreover enables Okta to build a great candidate experience, which is core to their values as a company.
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