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Venture Capital
passioncapital.com

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Investments

125

Portfolio Exits

18

Funds

3

About Passion Capital

Passion Capital is a partnership of entrepreneurs and operators who are applying experiences to helping founders and early-stage teams build digital media/technology companies.

Passion Capital Headquarter Location

2nd Floor 144a Clerkenwell Road

London, England, EC1R 5DF,

United Kingdom

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Latest Passion Capital News

Screenloop secures £5.74 million Seed investment led by Stride VC

Jun 28, 2022

13 minutes read The seed round was led by Stride VC, alongside Ludlow Ventures, All Iron Ventures, Passion Capital and Paul Forster, Founder of Indeed Screenloop’s hiring intelligence platform is an end-to-end solution to enhance the experience for candidates, interviewers and businesses  – ensuring companies can hire high quality talent at scale  95 percent of businesses admit to making bad hiring decisions and 80 percent of employee turnover is due to these poor decisions  Screenloop uses data and artificial intelligence (AI) to identify gaps in the recruitment process, leverage candidate feedback, and provide real-time coaching for interviewers to conduct better interviews and remove unconscious bias from decision making Customers include fast growth tech companies such as TrueLayer, Beamery, Reachdesk and GorillaLogic London, UK 06.00AM BST June 28th 2022: Screenloop , the hiring intelligence platform that helps teams hit their recruitment targets faster whilst delivering an enhanced  candidate experience, has raised a $7M seed round. The investment was led by Stride VC with participation from Ludlow Ventures, All Iron Ventures, Passion Capital and angel investor Paul Forster, founder of job-seeking platform Indeed. The new seed round follows an earlier investment of $2.5M in December 2021, bringing the total raised to $9.5M. The latest funding will be used for continued product investment plus research and development, with the goal of delivering a powerful end-to-end hiring intelligence platform. Screenloop will also continue its expansion into the US and new markets. The Screenloop team is growing with key hires being made across sales, marketing and engineering. Founded in 2021, Screenloop was born from the shared frustrations and poor hiring experiences of its founding team whilst working as senior operators at fast-growth tech businesses – including Stack Overflow, Talkdesk, Revolut, Reachdesk, and ClearScore. Anton Boner, Co-Founder and Commercial Director, said, “Our team is united in the belief that hiring is inefficient, outdated and unfair to candidates around the world. We have all been hiring managers and candidates, and we know the hiring process is broken. It’s difficult to track and measure, meaning there’s a lack of insight into what to improve and what to prioritise. Companies struggle to replicate their top performers and the cost of a failed hire is over $180,0001.” Data from Glassdoor claims that 95 percent of businesses have admitted to making bad hiring decisions2 and research from Yale found that 30 percent of interviewers typically make their decision on a candidate in the first five minutes of an interview3. Anton, continued, “Screenloop reduces the likelihood of companies making a bad hire whilst also helping remove unconscious bias from the recruitment process. We want to ensure candidates have an amazing interview experience with every company and are treated fairly. We also want to empower companies with data, insights and actions to be able to make the best hiring decisions all the time.” Screenloop’s end-to-end hiring intelligence platform currently includes four product solutions for businesses. ‘Pulse’ enables automated candidate feedback on the organisation’s  recruitment processes and uses it to identify and provide tailored recommendations for improvement using AI – enabling businesses to hit their hiring goals faster. One of Screenloops customers was able to reduce candidate drop off by 60 per cent by leveraging the insight to improve their hiring process. ‘Interview training’, provides modern shadowing and real time coaching through AI to enable interviewers to ask better questions as well as remove subjectiveness and unconscious bias in decision making. Screenloop’s ‘Interview Intelligence’ allows businesses to collaborate quicker and make decisions faster. The solution enabled one Screenloop customer to hire the top candidates in their process faster with a decrease of 26% in time to offer. Finally ‘Success’ is Screenloop’s tech enabled take on the highly manual referencing process which is outdated and inefficient. Success allows companies to understand more about the soft skills of their new hires, and completes the reference process in less than 24 hours. The technology allows new hires to contribute faster in their new position, and reduces the likelihood of failed probations. For one customer ‘Success’ saved its talent team one week per month to focus on other activities, with three hours saved per new hire. Screenloop has already received feedback from 100,000 candidates globally within 12 weeks and analysed over 1,000,000 minutes of interviews. The platform also reduces the average time to hire by three days. Screenloop is operating in Europe and the US, with an initial focus on fast-growth tech companies. Current customers include TrueLayer, Beamery, Reachdesk and GorillaLogic. Jay Radia, Co-Founder and Chair of Screenloop, added, “We have built a platform that can help all businesses to achieve their hiring goals faster by creating a world class candidate experience. 80 percent of employee turnover is due to bad hiring decisions4  which we help businesses avoid through our platform. By focusing on experience, companies can attract, hire and retain the best candidates around and build a more diverse team at the same time.” Gabbi Cahane, Partner at Stride VC, said, “From the moment we met the team, we could see they had a unique combination of  vision, experience and technical chops to pull off such an ambitious project. In the war for talent, when candidates’ expectations are growing ever higher, it’s fundamental that companies can provide them with an experience that is empowering, engaging and effective. Whether they’re hiring to grow or to fill the gaps, they need a recruitment process that’s fit for purpose, and that’s exactly where Sceenloop becomes indispensable.” For more information go to https//www.screenloop.com ENDS About Stride VC  Stride is a London based Seed fund that combines an investor mindset with an operator skillset. We back ‘Dissenters’ – founders who set out to build brands, products and platforms that reshape entire industries, categories, organisations and experiences. About Ludlow Ventures Ludlow Ventures is a Detroit based early seed-stage venture capital fund. The team believes in authentic friendships that go beyond work. Successful companies rely on trust and there is no greater way to foster that than by becoming real friends. Ludlow Ventures invests with insane conviction, moving quickly and backing teams when others think it’s too early. About Passion Capital Passion Capital was established in 2011 to bring founder-friendly operationally-minded venture investing to the UK and Europe. Founded by former entrepreneurs instead of traditional asset fund managers, Passion was one of the first operator-led dedicated early-stage venture funds in Europe. Additionally, it was the first in the world to publish and use a plain English language term sheet and not to charge its portfolio companies any of its own legal fees, the first in Europe to publish fund infographics and to host joint office hours (for pitching sessions), and the first to manage a coworking office space. Over the last decade the team has invested in some of the strongest European founders including those from GoCardless, Monzo Bank, Lendable, Marshmallow, Tide Banking, Digital Shadows, Smarkets, Tray.io , urban, Spotahome, Butternut Box, Nested, PolyAI, Causal, Fertifa, Screenloop and many more. About All Iron Ventures All Iron Ventures partners up with bold founders promoting innovative startups. We mainly invest in the early stages of European companies that aspire to reshape the future of both consumers and enterprises through technology. Based in Bilbao, Spain, and with approximately €140Mn under management, All Iron Ventures was promoted by the founders of Ticketbis, a global marketplace sold to eBay in 2016, in what is one of the main success stories in Spain’s startup ecosystem.

Passion Capital Investments

125 Investments

Passion Capital has made 125 investments. Their latest investment was in Screenloop as part of their Seed VC on June 6, 2022.

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Passion Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/28/2022

Seed VC

Screenloop

$7M

Yes

5

5/19/2022

Series A

Lassie

$11.58M

No

3

3/3/2022

Seed VC

TrueCircle

$5.5M

Yes

Firstminute Capital, Giant Ventures, Lowercarbon Capital, and Undisclosed Angel Investors

4

2/10/2022

Series A

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$99M

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10

11/29/2021

Seed VC

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$99M

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10

Date

6/28/2022

5/19/2022

3/3/2022

2/10/2022

11/29/2021

Round

Seed VC

Series A

Seed VC

Series A

Seed VC

Company

Screenloop

Lassie

TrueCircle

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Amount

$7M

$11.58M

$5.5M

$99M

$99M

New?

Yes

No

Yes

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Co-Investors

Firstminute Capital, Giant Ventures, Lowercarbon Capital, and Undisclosed Angel Investors

Sources

5

3

4

10

10

Passion Capital Portfolio Exits

18 Portfolio Exits

Passion Capital has 18 portfolio exits. Their latest portfolio exit was Sugar on June 15, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/15/2022

Acquired

$99M

4

6/1/2022

Acquired

$99M

4

11/10/2021

Acquired

$99M

2

10/29/2021

Acquired

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$99M

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10

10/4/2021

Acquired

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$99M

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10

Date

6/15/2022

6/1/2022

11/10/2021

10/29/2021

10/4/2021

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

4

4

2

10

10

Passion Capital Fund History

3 Fund Histories

Passion Capital has 3 funds, including Passion Capital Fund III.

Closing Date

Fund

Fund Type

Status

Amount

Sources

3/10/2021

Passion Capital Fund III

$62.5M

1

5/28/2015

Passion Capital II

$99M

10

4/1/2011

Passion Capital I

$99M

0

Closing Date

3/10/2021

5/28/2015

4/1/2011

Fund

Passion Capital Fund III

Passion Capital II

Passion Capital I

Fund Type

Status

Amount

$62.5M

$99M

$99M

Sources

1

10

0

Passion Capital Team

1 Team Member

Passion Capital has 1 team member, including current Investment Partner, Mark Zaleski.

Name

Work History

Title

Status

Mark Zaleski

Investment Partner

Current

Name

Mark Zaleski

Work History

Title

Investment Partner

Status

Current

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