In these extra challenging times, the Dutch HR Tech startup Neurolytics has received 250,000 euros from the Netherlands Organization for Scientific Research to further develop its AI video solution for HR and recruitment. And the company has started collaborations with PricewaterhouseCoopers (PwC) and the Ministry of Defense, among others.
Neurolytics, which helps companies to find the right employees using AI video assessments, has been awarded the NWO Take Off Phase 2 loan. Funding for innovative startups that bring scientific knowledge to the market. They were assessed on their good knowledge base and innovation, a very good commercial perspective, excellent quality of the team and good quality of the future / project plan.
The startup conducts joint research with Utrecht University and analyzes human behavior via video images in order to arrive at an objective, unbiased and digital recruitment process. “In our scientifically designed video scan we analyze, among other things, motivation, resistance to stress and match with the organizational culture. And we give candidates personal feedback for self-development, ”explains Felix Hermsen, co-founder of Neurolytics. This ensures that organizations can make better choices and implement a learning process based on data in order to select talents that are motivated and do not leave prematurely.
The timing of the new funding is particularly favorable, as Neurolytics recently started collaborations with large parties such as PwC and the Ministry of Defense. “A company wants to show who they are, what they do and why they do it; they are proud of that. As a candidate you want to get an equal chance, know what to expect and whether you will be happy at an organization, ”Hermsen explains.
Partly due to the transition to location-independent work accelerated by COVID-19, Neurolytics sees the demand for its digital product increasing. Hermsen: “Strategic development of your workforce and remote recruiting fits perfectly in the current era and will only become more important in the future.”
HR Tech startup Neurolytics was founded in 2018 by the Argentinian Belén Hein and Dutchman Felix Hermsen and provides objective insights into human cognition and preferences using biometric data from video.
The web application lets applicants and companies know if they are compatible. By combining the latest scientific insights in neuroscience, computer vision and machine learning, Neurolytics provides objective feedback based on behavior. This helps companies make better decisions without prejudice, and talents end up in jobs and corporate cultures where they become happy. Neurolytics originated in venture builder Holland Startup.
This article first appeared here.