Newcastle-based recruitment tech firm Haystack, a company that matches individuals with suitable roles based on an algorithm, has raised £500k. With it, the company looks to break into the American market — and perhaps other European markets later down the line.
Born to make more informed career decisions
Built for techies, by techies, Haystack was launched in 2020 during the pandemic by former recruiter Chris Bone and software developers Mike Davies and Rob Simmons to help tech workers make more informed career decisions. Haystack uses an algorithm to match individuals with suitable roles, removing the need for recruitment agencies.
The platform enables developers, data engineers and other tech professionals to view job opportunities in confidence and find out more about the companies, or simply assess the state of the jobs market. Candidates can subsequently choose to withhold their details or alternatively create a profile for employers to view.
2,000 new users per month
Haystack announced in a press released that is has increased its revenue five-fold over the past year. On the back of 30,000 registered users, the platform now has 130 paying customers, including Experian, Skyscanner and Lloyds Banking Group — who all use Haystack to advertise their profile and jobs to developers, data engineers and other tech professionals.
Eyeing America and Europe
Haystack has previously received backing from Dan Smyth, former managing director of Bede Gaming, and the government’s Future Fund. The latest investment brings the total raised by the company so far to £1.5m. With it, Haystack has its eyes set on the United States. “It will enable it to further enhance the platform and create a dedicated site for the US in response to demands from clients”, the company said in its press release.
“This new investment will enable us to target the US initially with a view to moving into Europe at a later stage.”
“Remote working means developers are no longer limited to one location”, said co-founder Chris Bone. “Haystack offers a ‘safe space’ where our community can research the different opportunities without being bombarded by calls from recruiters. Feedback from our multinational clients shows there is an opportunity to offer the same service in other countries. This new investment will enable us to target the US initially with a view to moving into Europe at a later stage.”
Picture credits: Haystack. (L-R, COO Mike Davies, CEO Chris Bone, CTO Rob Simmons)
