Candid secures backing to scale platform

A hospitality tech company is set to shake up recruitment in one of the UK’s biggest employment sectors following major investment.

New platform Candid Hospitality, founded by Hull entrepreneurs Sam Brown and Nick Holroyd-Doveton, has secured £785,000 from NPIF II – Mercia Equity Finance to grow their anonymous matchmaking service, which helps hospitality employers find staff based on values and skills rather than CVs.

The funding marks the first equity investment in Hull by NPIF II – Mercia Equity Finance, which is managed by Mercia Ventures and part of the Northern Powerhouse Investment Fund II.

Candid, which was launched in February, already counts 100 hospitality brands among its users and over 3000 candidates on the platform, with more than 700 matches made to date. 

Sam and Nick say they will use the funding to double their current workforce of seven over the next two years, as demand continues to grow.

Nick said: “Having spent years in hospitality, both Sam and I know the challenges of recruitment. 

“Candidates are often afraid to look for a better job in case their current boss finds out, while employers spend huge sums on new hires only to find they are the wrong fit. 

“We felt the process must be ripe for change. 

“Using our industry contacts, we spoke to 60 operators and over 100 candidates and developed Candid based on their feedback. 

“It uses the 3Cs – culture, competencies and compensation – which are key to successful hires. 

“The anonymity protects candidates and removes subconscious bias and enables employers to access ‘passive hires’ who may not be active job seekers but may be interested if the right role came along.”

Will Schaffer, investment director with Mercia Ventures, added: “Having worked with Sam previously during his time at Airship, we are pleased to back him and Nick in their latest venture. 

“Candid offers an innovative solution to the challenges of hospitality recruitment and has gained rapid traction. 

“The funding will enable the team to build on its initial success and to drive further growth.”

The £660 million NPIF II fund, which is operated by the British Business Bank, provides loans from £25,000 to £2 million and equity investment up to £5 million to help a range of small and medium sized businesses, driving innovation and creating opportunities for businesses to grow, scale, and thrive.

Lizzy Upton, senior investment manager at the British Business Bank, added: “The hospitality sector plays a vital role in the UK economy and is an industry built on people. 

“Candid Hospitality is showing how innovative businesses in Yorkshire are using technology to tackle longstanding challenges and unlock new opportunities for growth. 

“Through NPIF II, we’re proud to support these businesses and ambitious founders like Sam and Nick as they innovate and help strengthen one of the UK’s most important sectors.”

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