£1m investment for video AI platform Tempo
Video AI recruitment platform Tempo has secured £1 million investment from Hambro Perks.
The raise will be used to accelerate Tempo’s development of their tech platform and to expand further within London.
Launched in May 2017 by Ben Chatfield and Ollie Povey, Tempo offers a revolutionary way to recruit. Thanks to video technology and artificial intelligence, companies can now instantly hire great quality candidates in just a couple of clicks, at a fraction of the cost of using a recruitment agency.
Video profiles negate the need for phone screenings and interviews, with job offers also being made within the platform.
Chatfield said: “We are completely transforming the way that companies recruit. Our technology allows fast and effective hiring, without the hassle or expense of using an agency.
“It also provides a much more engaging candidate experience - a vital consideration in the war for talent.”
Both candidates and employers are increasingly ‘tech-enabled’, but the recruitment process offered by traditional agencies has not developed accordingly. Worth £35 billion in the UK alone, the recruitment industry is ripe for digital innovation and Tempo is leading the way in disrupting the sector.
Employers, on average, spend two and a half minutes viewing Tempo profiles, compared to six seconds that a recruiter will scan a CV for. It also gives candidates a better platform to showcase themselves through unique features.
Tempo’s fastest placement took just 27 minutes. It also has a partnership with Pitman Training which grants 40,000 yearly graduates to the platform.
Kate Burns, CEO of MediaTech at Hambro Perks, said: “Tempo is an increasingly growing and innovative platform that is reinventing the world of recruitment.
“I am thrilled to be part of the Tempo team and to see the company grow from strength to strength.”
Tempo claims that its fees are 70 per cent lower than the average recruitment agency and there are no upfront costs.
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