The funding organisation comprises private angel investors, and backing from the government’s regional growth fund and British Business Bank.
The investment puts Saberr at the top end of the spectrum, with the CoFund investing anything between £100,000 and £1m at a time. Perhaps that’s because the company’s tech has already been proven with high-profile clients including Coca-Cola, Microsoft, Deloitte and the Bank of Ireland.
The London company’s service revolves around analysing the employees of businesses and their cultural fit in order to calculate the future performance of the team. Saberr will use the capital to increase marketing of its algorithm, encouraging would-be clients to adopt its tech to determine if a new hire will be a good fit.
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Elsewhere, the business will also expand the proposition to ensure it can help team members to work together more efficiently. The initial concept when Saberr launched in 2013 was to combine online dating, psychology and behaviour.
Tim Mills, investment director, Angel CoFund, said: “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. The team’s successes to date with the likes of Coca-Cola and Microsoft are a great springboard and we’re looking forward to working together in the coming months.”
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Saberr CEO Tom Marsden called teams a “critical unit of performance in organisations today”. He referenced client Deloitte and noted its findings that “organizstional design and the rise of teams is the most important human trend in 2016.
With a design to support managers and teams, Marsden added:“We design technology and apply sophisticated analytics so that leaders can design and manage great teams.
“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.”
Real Business secured an exclusive interview with Angel CoFund’s Tim Mills and was granted access to numbers that show UK angels are providing a stairway to entrepreneurial heaven.
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