Indy Tech Company Acquires New York Platform
INDIANAPOLIS - Indianapolis-based software company Woven has acquired a tech screening platform in New York. Financial terms of the deal for Headlight are not being disclosed, however Woven says the acquisition will better position the company for future growth.
Headlight's platform provides screening services for potential tech job candidates. Woven says the Headlight team has shifted its focus to a new venture and decided to offload the platform.
"Too many folks in our industry focus on credential-based hiring techniques that are outdated and lack predictive power," said Jason Shen, chief executive officer of Headlight. "We have gotten to know the team at Woven and saw a shared belief in the power of work simulations to identify great talent. We love the world-class experience they provide for job seekers, and believe they will provide world-class support for our customers."
Woven launched in January after securing a more than $500,000 early-stage round of funding from investors including High Alpha Capital. The company's platform uses a credentials-blind candidate screening process to help customers find employees.
A spokesperson tells Inside INdiana Business the acquisition will bring the company closer to the milestones it needs to hit in order to hire dozens of new employees over the coming year.
Woven says the members of the Headlight team are moving to their new venture, Midgame, which provides communications analytics for esports teams.