Gothenburg-based HRtech startup Adway has secured €10 million in a Series A round from Octopus Ventures and existing investors. The startup’s platform helps its customers by automating the process for talent acquisition. With the latest round, they are planning to further with the development of the platform and expand into new markets across the globe.
Adway’s unique recruitment marketing platform empowers talent and recruitment leaders to attract talent at scale and speed. Their smart technology simplifies talent acquisition processes while building deep, diverse social talent pools, reducing cost per hire and removing reliance on traditional talent attraction and acquisition methods and tools.
Adam Said, Investment Manager at Octopus Ventures commented, “The challenge of accessing and attracting top talent is a growing problem for organisations globally. Intense competition, the growing shortage of talent and traditional job boards losing audiences are all additional factors to this challenge. Millennials and Gen Zs are further relying on social media to build trust with future employers, and the pandemic has allowed companies to embrace flexible working.
Adway’s talent acquisition platform combines best in breed digital advertising capabilities alongside deep knowledge of recruitment and talent acquisition. We were deeply impressed with the combined digital advertising and HR-Tech expertise of Adway, with the team’s passion and insight we are confident Adway will take the industry by storm.”
Recently recognised as a Core Leader by tech analysts, Fosway Group, Adway has established a strong start since inception in 2018. As a member of the Core Leader zone in the Fosway 9-Grid™, Adway is noted for the highest levels of customer and market performance and provides a strong suite of capabilities for clients across the world — from attraction to hire.
“Our sophisticated platform dynamically combines digital and programmatic advertising technology, with branded ad content to continuously discover the most effective journey for each candidate. Our clients see an increase in diverse, relevant applications and can build sustainable talent pipelines that enable them to continue to tell their employer brand stories with reach and resonance. This investment means that we can further develop our automated workflows and speed up the development of our suite of products, intelligence and data-led insights” says Adway’s CEO, Adrian McDonald.
The funding will be used to accelerate and scale Adway’s platform, further develop the product suite and to support continued expansion into international markets. The participation of existing investors in the round, Brightly Ventures and Spintop Ventures, is also a strong indicator of the excitement around Adway’s unique technology.