Beringea leads $5.5m series-A for Arctic Shores

Beringea, a VC with offices in the UK and the US, led the transaction. Existing shareholders, including UK-based Candy Ventures, also took part in the round.

Arctic Shores will use the investment to both accelerate its international expansion and launch a software-as-a-service (SaaS) platform to broaden its product offering. The round brings total investment in Arctic Shores to $10m, according to a statement.

Company
Founded in 2013, Arctic Shores operates a platform for psychometric assessments using artificial intelligence and neuroscience. Its technology assesses talent in a data-driven format and helps clients identify the most suitable applicants as well as increase diversity and inclusion.

Since foundation, Arctic Shores has worked with 140 organisations internationally – 48% of its revenues in the current financial year are expected to come from outside the UK. Headquartered in Manchester, the startup has offices in London and Singapore, and employs 50 people. Its clients include PwC, Airbus, Siemens and Deutsche Telekom.

People
Arctic Shores – Robert Newry, Safe Hammad (co-founders).
Beringea – Marc Shirman (investment director, head of Manchester office).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Beringea Limited
• Venture