The Selection Lab, an online talent assessment platform, successfully secured €1.25 million in a funding round led by the Borski Fund and its existing investor, Arches Capital, on October 11, 2023.

The Amsterdam-based startup offers cutting-edge assessment tools for candidate screening, underscoring the company's vision for the future of hiring. With the funding, the company will further enhance their assessment tool, turning it into a user-friendly and easily implementable assessment technology.

Discussing their expansion plans, Lotte Welten, CEO, and co-founder at The Selection Lab, stated, “With this investment, we are one step closer to revolutionizing the employee selection process, making it more objective, professional, and focused on the soft skills that truly matter. Together, we will redefine what it means to be 'the right fit' and boost diversity at the same time.”

Laura Rooseboom, Partner at Borski Fund commented, “Investing in The Selection Lab aligns with our vision for the future of hiring, one that prioritizes objectivity, inclusivity, and fairness to enable organizations to confidently select the best candidates for their success. This aligns with our core values of innovation, diversity, and the pursuit of excellence in finding the right individuals for organizations.”

Joeri Everaers, COO, and co-founder of The Selection Lab, added, “Thanks to our partnership with Borski, we can not only continue to grow our revenue but also double down on our impact.”

The latest funding reports for AI-based HR technologies reveal global investors' inclination towards talent assessment tools. In the Middle East region, Jisr secured funding of $30 million from Merak Capital for their HR Management and HR Tech tools. On the other hand, PeopleStrong’s Wheebox, a global HRTech solutions platform, was acquired by ETS in an undisclosed deal.