One of the most eye-opening discoveries for me over the past few decades has been that, contrary to popular belief, talent is not born – it is grown. And you cannot efficiently discover and grow something until you can measure it. Historically, tech talent has been grown in a few elite universities, and resumes have been used as a very lossy information transmission device to communicate talent to future employers using pedigree as a proxy for skills and potential.
The world of education, especially tech education, is undergoing a massive revolution. It is becoming more democratized, more engaging, and more continuous. Yet, resumes are still widely used as a proxy for talent – even when they do a poor job of communicating which candidates are highly qualified and which are not. This is forcing innovative companies to start looking for more data-driven ways to identify technical talent and to #GoBeyondResumes. Over the last few years, CodeSignal has been fortunate to be at the cutting edge of this revolution, and I am so very excited and proud about what comes next.
Today, we are announcing a new chapter in our story. CodeSignal has raised $25 million in Series B funding, led by Menlo Ventures, to launch our next phase of growth. Our existing Series A investors, e.ventures, A Capital, Felicis Ventures, and Correlation Ventures, participated in this round, along with new investors Capital One Ventures, CM Ventures, Human Capital , and TripHammer Ventures.
This funding comes at an important time for us. With the coronavirus pandemic forcing many companies to do their work remotely, everything that happened in an office suddenly needed to happen virtually – including technical recruitment. CodeSignal embraced the challenge of this new reality and developed tons of amazing features to meet our customers’ evolving needs at warp speed.
There are already early signs of the massive impact skill assessments are going to have on the future of technical hiring. We here at CodeSignal are still scratching the surface of all the things that become possible once you can measure human ability at scale and with high precision.
I am incredibly thankful to all of our investors, partners, and customers who have been passionate and steadfast supporters of our vision and mission. And a special thank you to the CodeSignal team, whose hard work and brilliance allowed us to successfully pull off a major organizational pivot and who make our company what it is today.
Now, with the support of our investors, CodeSignal is accelerating our mission and growing our team (yes, we’re hiring!). If you’re drawn to our vision and want to see what it feels like to be part of a dream team playing as one passionate unit, day-in and day-out, come join us. Let’s create the future together.
Co-Founder & CEO, CodeSignal