Indorse Launches London HQ Following Success Of Blockchain Innovation Challenge Event
Skills verification platform Indorse has opened its new corporate headquarters in London after successfully working with Rolls Royce to source top talent in its recent Blockchain Innovation Challenge event. Indorse has already seen significant success in Asia after working with tech firms such as Grab, South East Asia’s largest ride-hailing firm, as well as several enterprise clients, two of which are Fortune 500 companies.
Indorse’s move to London comes at a time when four-fifths of the UK’s tech leaders remain bullish on hiring top tech talent, according to a ‘Tech Tracker Survey’ by Studio Graphene. However, business leaders were concerned about securing the right talent, with 66 percent citing the lack of suitable individuals as a potential barrier to growth.
Indorse uses its community of coding experts to independently assess a candidate’s expertise and then creates an immutable record of the results on a blockchain. Companies hiring talent then know that the candidate has proven coding skills, so maximising the probability of a successful hire.
The company raised USD $450,000 in a seed round from AIM-listed blockchain investment consultancy firm, Coinsilium, in 2017, followed by a further $9 million through a crowdfunding round the same year. In 2019, Indorse received $6.5 million in investment from the Times Group, one of India’s largest media houses.
Rolls Royce’s civil aerospace division set up the hackathon-style Blockchain Innovation Challenge to search for a team of blockchain experts. The selected successful team will work on a proof-of-concept with Rolls Royce to help make its engine maintenance process more accurate and effective.
Indorse worked with Rolls Royce by designing a bespoke assessment framework for the candidate teams, then used its community of validators (compiled of working coding professionals and experts) to produce a shortlist of the highest performing teams. Indorse created a shortlist of five teams over the space of a week.
Gaurang Torvekar, CEO of Indorse, commented: “Opening an office in London is a strategic decision and something that we had planned even in our early days. We’ve come to London to help facilitate industry growth by giving businesses an element of certainty to their recruitment efforts. Regardless of a company’s size, hiring someone who isn’t quite fit for the job can be a costly mistake – especially when working against development deadlines or racing competition.
“London and the UK remain one of the biggest tech hubs in the world and we believe that London is a vital location for the future of our business. We are proud to have helped some very respected companies around the world source the best tech talent and we are already being asked to move beyond coding to help hirers assess individuals’ competency in a range of skills.”