Leeds-based recruitment firm secures £500k funding from Innovate UK

Know Someone said the success underscores the potential of its digital platform, and supports its focus on “redefining recruitment and addressing the sector’s biggest challenges”.

Geoff Shepherd, Yorkshire technology entrepreneur and chief executive officer of Know Someone, added: “Know Someone is in a terrific place.

"For our stage of development, we now have sufficient funding to take us to the next level. We’re building an amazing product and team. We’re deeply grateful to Innovate UK for its support.”

Know Someone is a digital recruiting platform which aims to encourage job referrals between prospective candidates and companies.

The platform provides an opportunity for third parties to make recommendations for a position, and when a role is successfully filled, the person responsible for the lead receives a fee.

Alexander Isherwood, chief technology officer of Know Someone, said: "Having led the application process for this funding, I am immensely proud of what we have achieved.

"This funding is not just a financial boost, it's a validation of our innovative approach to tackling the challenges in the UK recruitment sector."

Only around three to five per cent of businesses which apply to Innovate UK for funding are successful.

Speaking on Know Someone’s application, the assessors from Innovate UK, said: “This is an excellent application with a clear business need.

"The problems that this project is attempting to address are well detailed. The project plan is realistic and thorough - and the team have a strong skill mix.

“The commercialisation opportunities are well understood and exploited, and the project team clearly understand the impact of their innovation outside of the project.”