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10.12.2020 21:51

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These Armenian Immigrants Raised $38 Million To Reduce Bias In Hiring With CodeSignal

These Armenian Immigrants Raised $38 Million To Reduce Bias In Hiring With CodeSignal

Growing up in Yerevan, the capital of Armenia, Tigran Sloyan and Aram Shatakhtsyan dubbed themselves the country’s biggest math and coding nerds, respectively. But while Sloyan had the opportunity to attend MIT and later landed a job at Google, his childhood friend wasn’t so lucky.

 

Shatakhtsyan stayed local, attending Yerevan State University. He struggled to get a foot in the door of the top tech giants, spending years quietly freelancing—until Sloyan got an idea.

 

“He was making something like $30 an hour, where I was making, like, $130,000 a year,” Sloyan says. “While he was a much stronger programmer than I was, my résumé was giving me so many more opportunities. That was [our] original realization of how broken the world is.”

 

In 2015, the pair teamed up with former investment banker Sophia Baik, 35, to launch CodeSignal, a coding assessment platform meant to eliminate bias in tech hiring. The company announced Tuesday that it had raised $25 million in Series B funding from investors led by Menlo Ventures, valuing it at $120 million. This round brings CodeSignal’s total funding to $37.5 million.

 

CodeSignal boasts customers such as Zoom, Uber, Instacart, Robinhood, Asana and Brex, among others. Forbes named Shatakhtsyan, the 30-year-old chief technology officer, to its 30 Under 30: Enterprise Technology list last year. 

 

Formerly called CodeFights, CodeSignal invites recruiters and hiring managers to “go beyond résumés,” using its suite of skills-based assessments to ensure all candidates are evaluated against the same objective standard, says CEO Sloyan, 32.

 

“The statistics say, on average, recruiters spend about six seconds [reviewing] a résumé, which is crazy,” he says. “Some don't even get reviewed. It's a well-known thing, especially in the Bay Area, that applying for a job is like sending your résumé to a black hole.”

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