Venture Capital

CodeSignal Fuels Up With $50 Million Series C

SAN FRANCISCO — CodeSignal, a technical assessment platform dedicated to helping companies, including Facebook, Roblox, Zoom, Robinhood, and others, make data-driven hiring decisions in tech recruiting, has announced $50 million in Series C funding. This round, which brings CodeSignal’s total funding to $87.5M, was led by Index Ventures, with additional participation from Menlo Ventures, Headline, and A Capital.

The company also announced the launch of CodeSignal’s new advanced Integrated Development Environment (IDE) that unlocks highly relevant assessment experiences.

CodeSignal’s Assessments provide an objective measure of a candidate’s qualifications, enabling recruiters to compare several scores and strengths at once before hiring decisions are made. The platform allows companies to set their own threshold for qualifications and customize assessments with comprehensive testing options for each team and job opening and safeguards against cheating. By standardizing the technical assessment process, CodeSignal is changing traditional hiring practices and focusing on the applicant who can do the job and do it right.

Job assessments, whether at the top of the funnel or in later stage interviews, that feel like a simulation of the job provide the best indicator of skill and also create a better candidate experience, even for those who don’t ultimately get the job. Until today, it has been hard to achieve a true flight simulation of the coding environment, limiting hiring managers ability to assess skills, and candidate’s ability to demonstrate them.

With Codesignal’s newly launched advanced IDE, candidates will now be able to interact with code, files, a terminal, and a preview of their application in a persistent, fully configurable environment. This means candidates will have a similar experience to coding on a local machine, and the assessment provides a more powerful and familiar environment for them to solve tasks just as they would actually do on the job, showcasing their full range of skills.

Likewise, employers can now assess all of an applicant’s skills at the same time through a single coding task. This innovation is essential for hiring full-stack developers, a highly sought-after specialty, and it revolutionizes the online IDE-based assessment experience to create the most realistic simulation of software engineering jobs that’s available on the market.

“From the very early days, our investments have always focused on building a platform that can help technical recruiters and hiring managers #GoBeyondResumes to make unbiased data-driven recruiting decisions. As the demand for technical talent intensifies, hiring teams need better ways to identify qualified candidates while at the same time creating a great candidate experience,” said Tigran Sloyan, CEO and co-founder of CodeSignal. “This funding will help accelerate our product and go-to-market functions to continue helping companies make data-driven hiring decisions, while creating a phenomenal candidate experience along the way.”

“CodeSignal has seen astounding growth this year, which speaks volumes to the need for companies to re-imagine their hiring practices to attract and hire the best candidates,” said Nina Achadjian, Partner at Index Ventures. “Today’s job seekers have options and they are looking for companies that value fair and unbiased business practices. There is an amazing opportunity in front of us to change hiring culture and CodeSignal is the company making that happen.”