Willo, the Glasgow-based video interview screening platform, has raised over £1.5 million ($1.8 million USD) in a funding round led by 1818 Venture Capital to expand its services in the United States. The company, which helps simplify the hiring process for candidates and recruiters through its video screening platform that integrates with over 5,000 applications, including workflow management tools, ATS’s and CRM’s, is expected to exceed £1 million in turnover for the first time in January 2023.
Founded in 2018, Willo did not launch its platform until January 2020, just weeks before the onset of the pandemic. Despite the challenging economic conditions brought about by the pandemic, Willo has performed exceptionally well and currently operates in around 180 countries. The United States market alone accounts for over 65% of its revenue, and its client base includes some major brands such as Coinbase, Chick-fil-A, Very, Boohoo, and Sureify.
The funds raised will be used to scale up Willo’s operations in the United States, with the company planning to open a new office in New York to house its new team of seven sales and customer service representatives. Additionally, 25 new employees will be recruited to help the company grow in the U.S., U.K. and Asia as part of a wider global recruitment initiative, doubling the company’s headcount to over 50.
Willo’s success in the United States has been attributed to the growth of asynchronous working, which allows teams to operate without communicating simultaneously. This feature enables businesses to operate across multiple time zones, thus saving them thousands of pounds per employee each year. Willo is forecasting total revenue to reach over £40 million by the end of 2025 based on its goal of reaching more than one million video interviews completed per month and over 80,000 paying users.
Co-founder Euan Cameron expressed his delight at the level of interest Willo has received from the U.S. market, noting that “the way the U.S. market has embraced Willo’s technology has been astounding, and this latest investment will enable us to meet the booming demand for async hiring tools among businesses and organizations of all sizes.” The latest round of funding brings Willo’s total investment to $2.5 million following an initial seed funding round in 2021.
Willo’s success highlights the increasing role of technology in simplifying and streamlining recruitment processes. As the job market becomes increasingly competitive, the ability to screen and select candidates quickly and effectively has become a top priority for recruiters. Willo’s video screening platform, which enables asynchronous interviews, has proven to be an effective solution for recruiters and hiring managers alike.
To see how Willo’s video screening platform works, interested parties can view a demo video on the company’s website. With the latest round of funding, Willo is well-positioned to continue its growth trajectory and further expand its operations in the United States and beyond.
