Luminii provides CDD to Octopus Investments on their investment in Sova
Luminii are delighted to have provided commercial due diligence (CDD) support to Octopus Investments on its growth capital investment in Sova Assessment Limited, a HR Tech digital talent assessment software platform.
Based in London, with international offices in Dubai and Melbourne, Sova is an end-to-end candidate assessment and talent management SaaS platform. Its core customer base are large blue-chip organisations operating across a range of sectors who conduct large volumes of hiring or manage large numbers of applications with a need to digitise the experience creating efficiencies.
The company’s offering, which combines psychometric science, and a compelling digital user experience, has been well positioned during COVID helping its customers to streamline and reduce the cost of pre and post hire talent assessment processes. Additionally, the platform improves the quality and accuracy of hiring decisions and helps eliminate hiring bias enabling organisations to meet their diversity objectives. Through a fully configurable assessment platform, Sova helps organisations make data-driven decisions that are fair, robust and explainable at every stage of the employee journey from recruitment, internal talent identification programmes, leadership development and beyond.
Sova has over 80 enterprise-level customers and has assessed more than 1.5 million candidates across a number of different sectors in over 20 countries. Customers include John Lewis Partnership, Santander, Natwest, National Australia Bank, Northern Trust, Generali, Police Now, Pfizer and Deloitte.
Sova will use the investment to further penetrate its core territories through an increase in sales, marketing and customer support as well as targeting growth in new geographies. Sova will also continue to invest in its market leading assessment platform, utilising automation and machine learning to further streamline recruitment whilst always enabling an accurate, unbiased and fair assessment of talent.
"Luminii Consulting is delighted to have supported Octopus on this transaction. This is yet another deal that helps to further strengthen our credentials in the TMT and SaaS sectors. Having completed over 40 projects in SaaS in the last 2 years, Luminii is certainly building a strong reputation as a go to provider for strategy and commercial due diligence in the Technology space. We wish Octopus and Sova's management team continued success for the future." - Lushani Kodituwakku, Managing Director, Luminii Consulting
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