Tech City analytics company Saberr bags £1m
Start-up has created an algorithm which it claims is able to predict how well a new employee will work within a team
Saberr, a Shoreditch-based analytics start-up, has secured £1m in a funding round led by the Angel CoFund.
Founded by Alistair Shepherd in 2013, Saberr is able to assess whether a company’s new hire will work well within the team using an algorithm-based on data from online dating sites, classical psychology and behavioural economics.
The company has worked with global names including Deloitte, Microsoft, and the Bank of Ireland.
The funding will be used to market Saberr’s algorithm and to extend the product to help existing teams work together more effectively.
Tom Marsden, Saberr CEO, commented: “We are very excited about this latest round of funding and are grateful for the support we have received from Angel CoFund and our angel investors. Our investors’ experience and expertise is invaluable as we look to develop our product and implement it more broadly.”
Tim Mills, investment director of Angel CoFund, continued:
“The team behind Saberr has built a truly innovative and intelligent technology, which helps tackle that most pertinent of questions in a world where the primary structure of working is increasingly the team – how can we predict whether individuals will work well together?
“This behavioural economic approach to HR, combined with Tom and Alistair’s vision for the business, really makes this an exciting investment opportunity.”