CodeSignal, a San Francisco-based technical assessment startup, has raised $50 million in Series C funding to expand its platform.
The Series C funding round was led by Index Ventures, bringing the total funding raised by the startup since 2015 to $87.5 million. Firms like Menlo Ventures, Headline, and A Capital also participated in the round. Nina Achadjian, Partner at Index Ventures, said about the firm’s participation:
“CodeSignal has seen astounding growth this year, which speaks volumes to the need for companies to re-imagine their hiring practices to attract and hire the best candidates. Today’s job seekers have options and they are looking for companies that value fair and unbiased business practices. There is an amazing opportunity in front of us to change hiring culture and CodeSignal is the company making that happen.”
CodeSignal offers companies a way to improve the efficiency of their recruiting efforts by using job assessments intended to simulate the job potential employees are applying for, providing better indicators of the applicant’s skills. Now, the startup is working on developing a flight simulator that removes the limitations that hiring managers have been historically subjected to. Tigran Sloyan, CEO and co-founder of CodeSignal, referred to the startup’s mission by stating:
“From the very early days, our investments have always focused on building a platform that can help technical recruiters and hiring managers #GoBeyondResumes to make unbiased data-driven recruiting decisions. As the demand for technical talent intensifies, hiring teams need better ways to identify qualified candidates while at the same time creating a great candidate experience,”
The new funding will allow CodSignal to accelerate its product development and go-to-market functions to continue improving the job application experience for all of those involved. The technical assessment startup is looking to differentiate itself from the competition by providing hiring managers with a high degree of customization, allowing them to adjust the solution to their specific needs at any given time.