Plum, a revolutionary talent assessment platform, recently announced that it has raised $6 million ($8 million CAD) in a growth funding round led by Pearson Ventures, the corporate venture capital arm of Pearson, the world’s leading learning company. Other new investors, including JFF Ventures and Strada Education Network, also backed the round. Existing investors, Export Development Canada (EDC), Real Ventures, BDC Capital’s Women in Technology Venture Fund, EduLab Capital Partners, and Impact Engine, have also participated in the capital raised.
Plum enables employers to make better talent decisions using the predictive power of psychometric data. The solution can be used throughout the entire employee lifecycle, starting with the hiring function and supporting internal career mobility. Given the recent U.S. Jobs Report, which exceeded expectations and historically low unemployment, employers continue to grapple with aligning talent potential to growth opportunity: the exact problem that Plum addresses.
Founded in 2012 by Caitlin MacGregor, Plum offers talent assessment software designed to help organizations hire, grow, and retain employees. Using psychometric data and artificial intelligence (AI), the platform enables firms to match people with positions, quantify job fit, improve hire quality, identify potential, provide personalized career insights, and strengthen their teams. It uses objective data to measure and match human potential to job needs, enhancing talent decisions across the employee lifecycle.
Speaking about the capital raised, Co-founder & CEO of Plum, Caitlin MacGregor, said:
At Plum, we know that when people flourish, business thrives. Our investors are focused on the innovation that ensures companies are ready for the ever-changing world of work while keeping a watchful eye on how the quality of work connects the employee to the employer. Building on our 100 per cent ARR growth year-over-year, these funds will help us boost sales, marketing and product development to accelerate growth and further Plum’s positive impact.
Pedro Vasconcellos, Vice President, Pearson Ventures, said
We are excited by the innovation that Plum is bringing to the Talent Management space, particularly their focus on connecting individuals to the right opportunities where they’ll thrive. We are pleased to support Plum on the next phase of their growth and look forward to exploring various collaboration opportunities with them.
The startup reveals people’s talents with a single psychometric assessment that measures personality, social intelligence and problem-solving ability. While job titles, experience and education merely show what a person has done in the past, talents can predict what someone can achieve in the future.