Tangent, an employee referral platform that makes referrals accessible to everyone, announced it has raised €1 million in pre-seed funding. The investment round included participation from Zinc VC, Google’s Black Founders Fund and The SyndicateRoom. Key angel investors also participated: Leonard Picardo (#2 employee at Deliveroo), Catherine Lenson (prior to her move as COO at LocalGlobe/Phoenix Court Group), Andrew Robb (former COO at FarFetch) as well as Scouts from Atomico and Ada Ventures.
Founded by LinkedIn and EE alumni Gary Izunwa and Joe Adams, Tangent is a platform that connects jobseekers from low socioeconomic backgrounds with employees in tech for mentoring and employee referrals.
Tangent’s public launch comes at a time where recent data reports that only 9% of all UK tech employees come from low socioeconomic backgrounds despite making up 39% of the total UK population. This figure is significantly worse than the finance and law industries, where 29% and 23% of employees respectively come from low socioeconomic backgrounds.
Starting with entry-level tech sales roles, the platform connects jobseekers directly with employees from London’s leading tech employers including Stripe, Amazon, and Revolut, who offer mentoring, advice, and referrals to Tangent’s pool of socially diverse talent.
“You are nine times more likely to be hired through an employee referral, however if you come from a less privileged background like me, chances are you don’t have a professional network to get referred,” said Tangent co-founder & CEO Gary Izunwa, an award-winning social mobility podcaster and Forbes 30U30 2024, who was motivated to build Tangent after his personal experience and time at LinkedIn.
“I ticked lots of the less privileged boxes when I was younger, but became socially mobile after joining LinkedIn. LinkedIn is an amazing company, but whilst there, I kept on seeing my private schooled colleagues refer their private schooled friends and them landing top jobs. It felt so unfair for those who are just as talented but lack the networks,” added Izunwa. Tangent’s founders met during Zinc VC’s Venture Builder, a 12 month program for mission-led founders.
“Tangent sits at the heart of Zinc’s thesis of building commercial solutions to solve the world’s most pressing problems. We’ve been inspired by the progress that Gary and Joe have achieved in a short space of time and are excited to continue to partner with them on the next phase of their journey,” commented Ella Goldner, General Partner at Zinc VC.
During Zinc’s Venture Builder the pair launched their MVP and sold enterprise solutions to companies including Multiverse and GoCardless. Co-founder & CPO Joe Adams points to Tangent’s early traction as a clear indication of tech’s affinity for hiring through referrals.
“Companies love referrals but in their current form they damage diversity as the existing referral talent pools are homogenous,” said Adams. “We’re building a network of socially diverse, talented individuals who connect directly with tech employees and have access to opportunities they previously couldn’t access.”
Tangent’s fundraise announcement comes as the start-up launches its platform out of beta.
Read the orginal article: https://www.eu-startups.com/2024/04/london-based-tangent-secures-e1-million-pre-seed-to-bolster-social-mobility-in-tech-with-effective-employee-referrals/
