Inbeta is attracting more investors than ever, allowing it to reach a seven-figure valuation. What makes this interesting is that the company was able to achieve this just months after it was launched.
Founded back in 2020, the young executive specialist platform showed its potential to solve the rising biased recruitment practices in various companies and businesses.
Right now, employees are having difficulty acquiring the job position they've always wanted. Of course, their nationality, educational degree, and other job-related factors still greatly affect if individuals would be hired or rejected.
Now, this issue could be lessened by Inbeta. On Nov. 23, the platform's seed funding round, which was led by a host of former FTSE 100 executives, became successful.
Inbeta Platform to Solve Biased Hiring Practices
"Inbeta uses a unique combination of technology and assessments designed to overcome unconscious and institutional bias within the hiring process," explained the rising executive specialist platform via an exclusive email with TechTimes.
🚀 London-based https://t.co/esAiaFz1au backed by former FTSE retail bosses for their vision to financially, socially and culturally improve the executive recruitment process and challenge corporate bias 🙌🇬🇧https://t.co/PddX3eSQXw— EU-Startups (@EU_Startups) November 23, 2021
The company added that Inbeta's cutting-edge technology and advanced data aggregation, as well as a human science, mitigate bias during the executive recruitment and development process.
Experts said that the method used by Inbeta is more efficient than the traditional hiring practices of agencies, which are usually subjective and desk-research-based.
"I'm thrilled to be taking Inbeta into the next stage of its growth, backed by leading minds in the world of business and professional development. We have a unique opportunity here to do that rare thing: make the world a better place while also creating a valuable business, both to our customers and to society at large. We've spent the last year assembling the technology and the team to ensure we get this right.
I'm excited to welcome Harriet and Mark to our board of Directors, bringing their expertise, energy and drive to help us succeed in our mission. Having seen first-hand the detrimental effects of the bias, uncertainty, and short-termism rife within traditional hiring and talent management, we are all determined to build a new model that fights unfairness and inefficiency at scale. This is the first step on Inbeta's journey to helping people and businesses everywhere achieve their full potential."
Inbeta's Other Details
Inbeta has three stages when it comes to hiring employees. These include the following:
During this stage, the executive talent specialist platform uses a combination of real-time, firmographic data and intent-based targeting before relying on AI-based tools to look for outstanding or overlooked employees.
Inbeta also uses advanced methodologies that measure crucial leadership skills, cognitive behaviors, cultural drivers/flexibility, allowing it to define the profile of shortlisted talents efficiently.
In the final stage, the unbiased hiring platform would use its advanced features to reduce the risk and ensure the recruit integrates, accelerates, and transitions within their new roles.
For more news updates about Inbeta and other unbiased hiring solutions, always keep your tabs open here at TechTimes.
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Written by: Griffin Davis