Nižšie riziko nekvalitného náboru vďaka background skríningu. SCAUT získava milión eur na rozvoj od fondu VFF a skupiny investorov
Prague, October 11, 2023 – Verification of information about candidates is increasingly necessary in the current digital age and era of remote work. According to the National Association of Professional Background Screeners in the US, up to 96 percent of employers screen job applicants in one or more ways. In the Czech Republic and Slovakia, the SCAUT web tool is a pioneer in this area. Petr Moroz's startup has now received a million euros for its development from the Slovak Venture to Future Fund (VFF) and angel investors Ory Weihs, Ľuboš Kovařík, Kamil Blažek and Moravian Garage Angles.
The CEO of the SCAUT, Petr Moroz, sees the investment as proof that more companies are becoming interested in prevention when recruiting new employees. "We are glad that the issue of background screening is becoming more widely known in our country as well. Incorrect hiring also brings with it greater security risks than just wasted time during onboarding. Its consequences can be fatal - from high financial losses to data leakage to espionage," he says. "However, with our tool, we can effectively prevent this. We now plan to use the obtained investments mainly for further growth, strengthening of technologies, integration of HR systems and expansion."
The SCAUT web tool works with artificial intelligence (AI) and data analysis. It provides HR experts with many types of background checks not only for verifying employees, but also for management candidates who, as employees, subsequently have access to the company's most sensitive data and trade secrets. The individual SCAUT screening packages are then compiled taking into account the various needs not only of the HR department, but also of compliance and risk management.
The main investments come from abroad
The main investor, which contributed 500,000 euros, is the Slovak venture capital fund Venture to Future Fund. It was created on the initiative of the European Investment Bank (EIB) and the Slovak Ministry of Finance and, through Slovak Investment Holding, supports technologically innovative companies with the potential to become a leader in the given segment and expand to foreign markets. In addition to Prague, where Petr Moroz founded the startup in 2020, SCAUT also operates in Bratislava from 2023. However, the startup's ambition is to expand to the neighboring markets of the European Union. Sparring.io was participating in the transaction from legal and business side.
"Venture to Future Fund considers the topic of recruitment security relevant in the context of current geopolitical and security threats. In this regard, SCAUT brings not only quality services, but also innovative solutions for its clients. The combination of product and technological solution appealed to us. We perceive that SCAUT has the potential to grow, which is why we decided to invest in this company," says Venture to Future Fund Chairman of the Board Matej Říha.
Additional capital from a group of investors
The SCAUT company will also be supported by a group of private and angel investors with the amount of 500,000 euros, who see the future of automating the safe recruitment of employees in a technological solution. Among them is Ľubomír Kovarík from Colt SK Group SE, which as a firearms manufacturer merged with North American Colt last year, attorney Kamil Blažek and Ory Weihs, founder of XL media PLC and Team Odeon, which has been investing in technology for several years.
They were joined by a group of investors from Moravia, Garage Angels, which focuses on innovative ideas with the possibility of scaling and chances of global success. "We believe that SCAUT services will contribute to the improvement of information and recruitment processes between employers and job seekers, and at the same time, they will make it easier for companies to properly document and verify the often mandatory data for their business. An experienced management team with a clear vision and the energy to implement is also important for us," adds Jiří Nepala from Garage Angels.
“SCAUT is a great tool in the industry that desperately needs innovation. The increase in hybrid and remote work in the era of globalization makes background checks difficult, but increasingly important. Petr Moroz and his team bring a combination of proven MVP along with huge market potential. Precisely because of the insufficient offer of background screening tools, the choice to invest in SCAUT was easy," states Ory Weihs.
_ _ _
SCAUT is a Czech online screening tool founded in 2020 by risk management expert Petr Moroz. He used his long-term experience in the field of risk management and business intelligence to develop a unique HR tool for personnel security and risk screening during employee recruitment. SCAUT has an intuitive interface in traffic light colors for candidate identification based on thorough screening using artificial intelligence and machine learning. Scout covers more than 150 countries worldwide in compliance with the GDPR. It thus automates the work of HR to verify each applicant's ability to perform the job in a particularly complex way and also protects company data from misuse, theft or industrial espionage. In 2022, Scout placed in the top 12 of the Vodafone Idea of the Year startup competition. His clients include more than 120 global employers, as well as smaller companies from the Czech Republic and Slovakia, such as Albert, Alza, Vodafone, ČEZ Group, Pixley, Alviso, Futureproof or Cool People.