• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

CodeSignal secures $50M for its tech hiring platform

September 16, 2021 by David Barret Leave a Comment

In less than a year after raising $25 million in Series B funding, technical assessment company CodeSignal announced a $50 million in Series C funding to offer new features for its platform that helps companies make data-driven hiring decisions to find and test engineering talent.

Similar to attracting a big investor lead for its B round — Menlo Ventures — it has partnered with Index Ventures to lead the C round. Menlo participated again and was joined by Headline and A Capital. This round brings CodeSignal’s total fundraising to $87.5 million.

Co-founder and CEO Tigran Sloyan got the idea for the company from an experience his co-founder and friend Aram Shatakhtsyan had while trying to find an engineering job. Both from Armenia, the two went in different paths for college, with Shatakhtsyan staying in Armenia and Sloyan coming to the U.S. to study at MIT. He then went on to work at Google.

“As companies were recruiting myself and my classmates, Aram was trying to get his resume picked up, but wasn’t getting attention because of where he went to college, even though he was the greatest programmer I had ever known,” Sloyan told TechCrunch. “Hiring talent is the No. 1 problem companies say they have, but here was the best engineer, and no one would bring him in.”

They, along with Sophia Baik, started CodeSignal in 2015 to act as a self-driving interview platform that directly measures skills regardless of a person’s background. Like people needing to take a driver’s test in order to get a license, Sloyan calls the company’s technical assessment technology a “flight simulator for developers,” that gives candidates a simulated evaluation of their skills and comes back with a score and highlighted strengths.

The need by companies to hire engineers has led to CodeSignal growing 3.5 times in revenue year over year and to gather a customer list that includes Brex, Databricks, Facebook, Instacart, Robinhood, Upwork and Zoom.

Sloyan said the company has not yet touched the money it received in its Series B, but wanted to jump at the opportunity to work with Nina Achadjian, partner at Index Ventures, whom he had known for many years since their time together at Google. To work together and for Achadjian to join the company’s board was something “I couldn’t pass up,” Sloyan said.

When Achadjian moved over to venture capital, she helped Sloyan connect to mentors and angel investors while keeping an eye on the company. Hiring engineers is “mission critical” for technology companies, but what became more obvious to her was that engineering functions have become necessary for all companies, Achadjian explained.

While performing due diligence on the space, she saw traditional engineering cultures utilizing CodeSignal, but then would also see nontraditional companies like banks and insurance companies.

“Their traction was undeniable, and many of our portfolio companies were using CodeSignal,” she added. “It is rare to see a company accelerate growth at the stage they are at.”

U.S. Department of Labor statistics estimate there is already a global talent labor shortage of 40 million workers, and that number will grow to over 85 million by 2030. Achadjian says engineering jobs are also expected to increase during that time, and with all of those roles and applicants, vetting candidates will be more important than ever, as will the ability for candidates to apply from wherever they are.

The new funding enabled the company to launch its Integrated Development Environment for candidates to interact with relevant assessment experiences like codes, files and a terminal on a machine that is familiar with them, so that they can showcase their skills, while also being able to preview their application. At the same time, employers are able to assign each candidate the same coding task based on the open position.

In addition, Sloyan intends to triple the company’s headcount over the next couple of months and expand into other use cases for skills assessment.

How to hire your first engineer: A guide for nontechnical founders

 

Source Link CodeSignal secures $50M for its tech hiring platform

David Barret
David Barret

Related posts:

  1. Myanmar’s Suu Kyi back in court after absence, still ‘somewhat dizzy’ -lawyer
  2. Vladimir Putin is to self-isolate after COVID-19 detected in entourage – Kremlin
  3. BAE Systems sees big opportunity in space after UK satellite deal
  4. Toyota, Honda urge Congress to reject expanded tax incentive that would benefit Ford, GM, Stellantis

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Unexpected Discovery Hints We Might Be Inside A Black Hole
  • Why Are People Talking About This “Square Structure” Captured On Mars?
  • The World Has Five Oceans, Not Four – Discover The Latest One
  • Just 80 Percent Of People Can Perceive This Optical Illusion And No One Knows Why
  • Something Other Than Geological Processes Or Humans Created These Caves
  • Can Black Holes Lead To Other Places In The Universe?
  • The Devastating Communication Problem Facing Light-Speed Travel
  • The Great British Pet Massacre: One Of The Saddest Tragedies Of 1939
  • Would A Vacuum-Filled Balloon Float?
  • Queen Ant Produces Babies Of 2 Different Species, For The First Time Ever We Have A Complete Map Of Brain Activity, And Much More This Week
  • Yes, Your Attention Span Might Have Shortened, But That Might Not Be A Terrible Thing
  • This May Be The First Known Portrait Of A Viking – And It’s A Sexually Rampant “Beard Fondler”
  • The Largest Snake In Captivity Is A Humongous 7.7-Meter Reticulated Python Called Medusa
  • Poo Power: How Animal Dung Could Unlock New Antibiotic Treatments
  • Perfectly Preserved Dinosaur Tail Found Inside 99-Million-Year-Old Amber Was Mistaken For A Plant
  • Why Aren’t Full Photos Of The Milky Way Real? A NASA Analyst Explains The Obvious
  • Freaky Ratfish Have Teeth Growing Out Of Their Foreheads, And They Use Them For Love
  • The Largest Turtle Ever Known To Have Lived Was An Absolute Unit
  • “It Literally Leapt Out Of The Rock At Us”: How Violent Storms Led To The Extraordinary Preservation Of Baby Pterosaurs
  • This Is The Reason Why Earth’s Core Exists, And It’s More Interesting Than You Might Think
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version