Business Irish

Saturday 29 April 2017

€1.5m for automated job interview firm Sonru

Sonru logo
Sonru logo
John Mulligan

John Mulligan

Wexford-based technology company Sonru, which offers an automated video interview platform to clients, has secured an additional €1.5m investment from a vehicle backed by Saphir Capital Partners.

The Luxembourg vehicle, Cronulla, initially took a stake in Sonru in 2014, also investing €1.5m in the business at that stage.

Cronulla is also backed by investors including individual Saphir executives and other private equity and financial firms including Edison Capital Partners.

Following its 2014 investment, Cronulla injected additional cash into Sonru, including a further €1.5m in 2015.

Accounts for Cronulla filed in Luxembourg show that at the end of 2015 it listed a €2.87m investment in Sonru as its sole fixed asset.

The accounts note that at that stage, Cronulla held a 22.1pc stake in Sonru, suggesting the Irish firm's valuation at the time was in the region of €13.5m.

According to documents filed in the Companies Registration Office, Cronulla holds convertible preference shares in Sonru.

Founded by CEO Ed Hendrick in 2007, Sonru's clients have included Qatar Airways, Nestle Rolls Royce and Volvo.

It provides automated video interviewing, replicating preliminary face-to-face interviews online in a process designed to eliminate unsuitable candidates for jobs.

Interviewers and candidates are not online at the same time.

The latest publicly available set of accounts for Sonru show that it made a €1.6m loss in 2015 and continued to depend on backers for funding.

However, they predicted the company would make "a move towards profit" this year.

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