Categories: Tech News

Newcastle-based tech recruitment platform Haystack raises £500,000

Haystack, a Newcastle-based digital recruitment platform for technology roles, has raised £500,000 in a funding round to fuel its expansion into the US market.

Founded in the middle of a pandemic in 2020, Haystack uses an algorithm to match data engineers, software developers and other tech professionals with jobs. The startup claims its technology eliminates the need for recruitment agencies.

Technology professionals can publicly display their data so that employers can view or withhold personal information to privately assess the job market.

“Remote work means that developers are no longer limited to one location. Haystack provides a ‘safe space’ where our community can research different opportunities without being bombarded with calls from recruiters,” said Chris Bone, CEO of Haystack .

“Feedback from our multinational customers shows that there is an opportunity to offer the same service to other countries. This new investment will allow us to focus initially on the United States with a view to moving to Europe at a later stage.”

Funding for the Newcastle-based startup comes from the North East Venture Fund (NEVF), which is managed by Mercia and supported by the European Regional Development Fund.

“The team at Haystack has created a genuine alternative to recruitment agencies – one that provides a better experience for job seekers and enables employers to target a wider range of candidates while reducing costs” , said Ian Wilson, Mercia’s fund manager.

“The funding will help the company embark on international expansion and take the business to the next level.”

The North East Venture Fund is an investment program that provides funding to UK startups based in Durham, Northumberland and Tyne and Wear.

In January, the North East Venture Fund backed Gateshead-based workplace wellbeing app ART Health with an £800,000 investment.


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