Law firm Hill Dickinson has advised venture capital firm Praetura Ventures on a Series B investment into a business that is already transforming the recruitment landscape for major employers.
Praetura, along with London-based private equity firm, Calculus Capital, led the transaction with participation from existing shareholder Beringea, in relation to its £5.75 million investment into Manchester-based behavioural assessment provider Arctic Shores. The investment will help the the business to accelerate its international expansion, specifically in Europe.
Arctic Shores was founded in 2014 by Robert Newry and Safe Hammad and specialises in hiring for potential and soft skills, enabling organisations to widen their talent pools to include high-quality candidates that CV screening and traditional tests often overlook.
Hill Dickinson corporate partner Michael Murphy advised Praetura on the deal, saying:
“This was an excellent deal to work on, involving investment into an innovative business whose offering is very timely in a jobs market where employers are having to look beyond traditional recruitment methods to attract and retain talent. Praetura’s investment is set to bring benefits to both parties and I wish them every success in taking the company forward.”
