Amsterdam-based The Selection Lab, a startup that develops assessment technology to screen applicants, announced that it has secured €1.25M in a fresh round of funding.
The investment was led by Borski Fund and joined by existing investor Arches Capital.
“Due to our partnership with Borski, not only are we able to continue to grow our revenue, but also double down on impact,” says Joeri Everaers, COO and co-founder of The Selection Lab.
Laura Rooseboom, Partner at Borski Fund adds, “Investing in The Selection Lab highlights our vision for the future of hiring – one that prioritises an objectivity, inclusivity, and fair process to ensure that organisations can confidently choose the best candidates for their success.”
“This aligns with our core values of innovation, diversity, and the pursuit of excellence in finding the right individuals for organisations.”
What does The Selection Lab offer?
Founded in 2018 by Lotte Welten, Joeri Everaers and Jordi Wippert, The Selection Lab provides assessment technology that addresses issues like complexity, pricing, and bad user experience associated with objective screening methods.
The company’s software can be used without prior HR experience, integrates with other HR software, and employs scientifically validated tests.
Additionally, the software features a smart data layer, enabling recruiters to objectively analyse candidates’ soft skills and compare them with different groups, aiding informed decision-making in the hiring process.
The Dutch startup claims to have experienced rapid growth, expanding its client base from 30 to over 180 in just two years.
In March 2021, the startup secured €300K from Arches Capital.
Capital utilisation
The Selection Lab says it will use the funds to support its expansion in technology and sales, as well as facilitate client acquisition through strategic marketing efforts.
Co-founder Lotte Welten says, “With this investment, we’re one step closer to revolutionising the selection process of employees – making it more objective, more professional, and more focused on the soft skills that truly matter.”
“Together, we will redefine what it means to be ‘the right fit’ and boost diversity at the same time,” adds Welten.
Currently, The Selection Lab is offering new clients a complimentary three-month period of their assessment software throughout October 2023.
Brief about the investors
Borski Fund, founded by Simone Brummelhuis and Laura Rooseboom, is a venture capital fund established in 2019. With an initial commitment of €21M and a current size of €40M, the fund focuses on supporting inclusive and gender-diverse startups.
Arches Capital is an Angel Syndicate with 100+ experienced business angels, serving as a bridge between venture capitalists and angel investors. The firm invests in and supports entrepreneurs building generation-proof B2B software companies, offering engagement, mentorship, and growth acceleration.
With a portfolio of 17 B2B software companies, Arches Capital guides businesses from initial investment to successful exits.
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