Amsterdam, March 9th 2021 – The Selection Lab received an investment of EUR 300K from Arches Capital. With this investment The Selection Lab will further develop its assessments and platform, invest in marketing automation and expand the sales team.
The Selection Lab offers validated assessments to select the best possible candidates for a job. The Selection Lab was founded in 2018 by Lotte Welten and Joeri Everaers to make hiring more objective and thereby stimulate diversity.
Current assessment solutions are often expensive, complex and inaccessible or they lack a thorough scientific foundation. We offer companies of all sizes scientifically validated assessments at a reasonable price and without additional fees. This enables companies of all sizes to objectify their hiring and thus boost quality and diversity.
Lotte Welten, co-founder and CEO of The Selection Lab
The Selection Lab started in the legal industry and was quickly able to get several top law firms on board. With their software, organizations are able to determine which combination of characteristics – ranging from personality and cultural preferences to types of intelligence – are important for success for their specific company.
After the product was validated in the legal industry, The Selection Lab moved on to different industries, ranging from recruitment agencies to security firms. In the past 6 months the number of clients has gone tenfold, and the team has expanded to 12 people. The investment procured from Arches Capital will further speed up the pace in which The Selection Lab can service a wide variety of customers.
Next to the low threshold for use, the biggest difference with our competitors is that our software can track the performance of people who get hired, and then uses machine learning models to determine on a company level what combination of character traits are actual predictors for success. With this knowledge, companies can hire based on data instead of their gut thus increasing quality and diversity.
Joeri Everaers, co-founder and COO of The Selection Lab
The mission of The Selection Lab is to increase the quality and diversity within firms and organizations by making the selection process more objective. Currently companies have little knowledge about the real predictors for employee success and biased intuition, willingly or unwillingly, still plays a large role within the hiring process. By quantifying the real predictors of success and measuring those objectively, these biases can be combated, and diversity increased.
With The Selection Lab we add a strong team and company to our portfolio, that is led by a very well skilled, determined as well as energetic female entrepreneur. Striving for more diversity, we hope for many more companies to follow their footsteps.
Frank Appeldoorn, Managing Partner of Arches Capital
About Lotte Welten
Lotte Welten is co-founder and CEO of The Selection Lab. After studying and working on 4 different continents for a variety of NGO’s to stimulate emancipation of minorities, she co-founded The Selection Lab in Amsterdam. With The Selection Lab Welten aims to structurally improve the diversity within companies as she firmly believes that the only real way to combat biases is to let people work together.
About Joeri Everaers
Joeri Everaers is co-founder and COO of The Selection Lab. Joeri has a MSc Economics and worked as an strategy consultant for EY VODW, marketing manager of Westwing (a Rocket Internet venture) and helped set-up the first beer subscription for AB InBev. Everaers has always been fascinated by combining data with intuition and strongly believes that this leads to the best possible results.
About The Selection Lab
The Selection Lab offers assessment technology that helps organizations to objectively determine which applicants are most likely to succeed in their role. Due to smart technology, the assessments are more affordable, easy to interpret and actionable. By tracking how well candidates perform, The Selection Lab provides organizations with insights on what combination of characteristics are the best predictors for success.
For more information, visit www.theselectionlab.com.
About Arches Capital
Arches Capital is a fast-growing group of business angels that invests in startup and scale-up companies with a large growth potential. Through its investments Arches Capital bridges the gap between formal investors (VCs) and informal investors (business angels), by joining the best of both worlds: Arches Capital differentiates itself by bringing superior deal flow, professional knowledge and a lower risk profile to the participating angel investors, while supporting its successful portfolio companies from start to exit through follow-on investments. For this Arches Capital is building the leading platform of actively engaged business angels that know how to operate and manage their investments in a professional and standardized manner.
Wouter Goedhart, founder of VONQ, and Paul Citroen, founder of UNO, and both active members of Arches Capital, will be appointed as non-executive board members of The Selection Lab.