Shortlyster, an intelligent hiring optimisation platform, that helps companies make better and more informed hiring decisions, has today announced it has successfully completed a AUD $5 million capital raise.
The seed round was led by Deepbridge Capital, an investment fund specialist in the technology, life sciences, and renewable energy sectors, with participation from Shark Tank’s Andrew Banks and entrepreneur, Tink Taylor.
Shortlyster uses smart data and science to match
What does this funding mean to Shortlyster?
Shortlyster’s CEO and Co-Founder Rudy Crous said the funding would be used to execute their growth strategy and unlock further market expansion.
“Who you hire can make or break your business and we want to establish a beachhead position for Shortlyster as the essential ‘first step’ tool for hiring decisions. All businesses want to ideally find the right person to hire quickly, and the value
“Shortlyster standardises the way candidates are reviewed (screened, ranked, and matched), removing the cognitive bias from the hiring process at the start. We help businesses make more objective hiring decisions – with the platform underpinned by organisational psychology and neuroscience principles,” said Crous.
Andrew Banks, business leader across the HR and recruitment space and Shark on Shark Tank, said he saw his investment in Shortlyster as a great opportunity to invest in a company disrupting the recruitment industry.
“There’s no doubt traditional hiring methods need to change and I often see a lot of so-called ‘great solutions’ in this space. I’m excited to work with Rudy and Carl as Shortlyster is a fantastic solution that can help every company. It’s the best digital innovation around increasing the cultural match in recruitment that I’ve seen in a very long time,” added Banks.
What sets Shortlyster apart in the HR space?
Shortlyster’s Chairman and Co-Founder Carl Hartmann said the automated platform empowers hiring managers and lets them take control of their hiring process.
“What’s great about the platform is it gives recruiters and hiring managers back their time while reducing cognitive bias, speed to hire, and cost to hire. Research shows that up to 70% of a recruiter’s time is spent on manual hiring processes like reviewing CVs and creating candidate shortlists.
“Which means that less than 30% of their time is spent on more value-adding tasks like relationship building, and engaging
Shortlyster’s scientific approach to recruiting and matching successful candidates aims to ensure higher job satisfaction and higher employee retention rates in the long term. The platform uses smart data derived from cultural and behavioural assessments to measure, rank and recommend optimal candidates instantly.
Key features of the Shortlyster platform include:
- Skills and Qualification Mapper – Powerful mapping tools that evaluate the technical suitability of each candidate.
- Organisation Fit Assessments – Identifying candidates who reflect the core beliefs, attitudes, and
behavioursbusinesses need in their teams and organisation.
- Selection Criteria Weighting – Assigning relative importance ratings to selection criteria to increase the accuracy of candidate scoring and selection decisions
- Progressive Candidate Profiling –
Dynamically comparing, contrasting, and recalculating candidate scores to find the besttalent. This feature allows you to run different individual fit, team fit, and organisationalfit scenarios.
- Shortlyster Talent Pool Matching – Providing
a businessdirect access to top talent in the Shortlyster candidate pool.
What do those who have used the service think?
“We would previously spend up to 40 hours sifting through resumes and shortlisting suitable candidates,” says Mick Hall, Director, BrandLink. “We’ve cut that time by 80% since using Shortlyster and can now put that saved time to running the business.
“The best thing about Shortlyster is how flexible it is. You’re able to adjust the criteria at any point and the candidate rankings are re-calculated, allowing you to change the job profile as you come to understand who exactly you’re looking for. It instantly pushes the best matches to the top ensuring you don’t overlook any great candidates.
“We can then re-use the job profile next time we have an available position, increasing hiring efficiency even more.”
Aaron Holesgrove, Agile Scrum Master, BrandLink said, “I was hired for the BrandLink role within 3 days. It was one of the smoothest hiring processes I’ve ever been through.
“Having filled out the Shortlyster questionnaire prior to the interview made a world of difference. After finishing the questions, I had a better sense of what the job was and where the company was at, which made me want the job even more.
“This meant when it came to the interview, we instantly engaged positively and I already had questions prepared to ask. It was the best interview I’ve ever had.”