London-based recruitment startup Gradfuel secures £200k in seed funding amidst job market uncertainty
Gradfuel is a London, England-based recruitment startup that provides a personalized job assistant, that matches you with the perfect graduate jobs. Founded in 2019 by an entrepreneur and recent graduate, Elliot Mitchell, the career service takes a genuine approach to understand the applicant’s personality and interests.
Today, Gradfuel announced it has raised £200k in seed funding at a £1.05 million valuation. Gradfuel has a unique offering unlike any other tech-recruitment service on the market. Using a personalized approach, the platform focuses on creating a bespoke match-making service for graduates by matching candidates with Myers Briggs personality testing as well as factoring in candidate education, skills, and interests.
Gradfuel has partnered with consulting firm Capgemini, leading recruitment agencies, startups, and more to provide over 10,000 graduates with jobs. The company, valued at £1.05m, has been successful in its initial seed funding round and is eager for further investment interest as it bridges the gap between employers and current graduates entering this uncertain job market. Backers include ex-Managing Directors from J.P Morgan, Merrill Lynch, and Goldman Sachs, as well as early investors for Patch Plants and Mindful Chef, who have backed the company in its seed round.
Based in London and founded by Elliot Mitchell, an entrepreneur and graduate from Cardiff University, Gradfuel acts as an intelligent personal job assistant for recent graduates. The career matchmaking service is conducted by their chatbot, which factors in job seekers’ details from degree history, work experience, and skillsets. Graduates are able to further personalize their job search by conducting a Myers Briggs personality test, which identifies the career options that would suit their personality best.
Since its inception, Gradfuel has guided over 10,000 recent graduates and worked with significant companies within the space, which includes global consultancy firms such as Capgemini, leading recruiters Venatrix and Give A Grad A Go, tech companies, startups, and more. The investment interest in Gradfuel comes at a time when the Institute of Student Employers (ISE) has revealed a cut to entry-level jobs by 23%, with graduate jobs affected by a further cut of 12%. However, Gradfuel has recognized this as a crucial time period to launch the platform, in order to help aid employment and provide ongoing support for both graduates and employers.
Commenting on the funding, Elliot Mitchell, Founder of Gradfuel, said: “This is the start for what we envision an evolving success story for graduates and companies alike. We pride ourselves on offering a unique, democratized model to the graduate recruitment market, focusing on the strengths and personality traits of recent graduates and working closely with employers to identify the applicant that would flourish at their company.
“This latest investment round will continue to grow Gradfuel’s employer portfolio and help improve their technology around guidance for graduates as they start their careers. Our investors believe in our vision and we’re confident in our ability to provide support for graduates by guiding them into their next chapter.”