“InvestTN” announces first investment
It went to Kingsport-based Personality Pool.
The Launch Tennessee-managed “InvestTN” program has made its first matching investment, and it went to a Kingsport-based, woman-led business.
The $150,000 investment was made in Personality Pool, a company that uses advanced technology and artificial intelligence to help employers screen entry-level job candidates based on their personality traits. Originally founded as rpl.university, the start-up rebranded earlier this year as we noted in this July 31, 2023 teknovation.biz article.
“We are helping employers find the personality of applicants, particularly for customer-facing roles,” Lauren Glass-Mullins says, using the descriptive phrase, “We flip the candidate pool and put personality first in the candidate screening process.”
Personality Pool’s approach allows job seekers to stand out by showing characteristics that aren’t clear on a resume, and it provides information that can supplement gaps in employment or education by showing a company how the applicant’s personality might be a good fit.
The “InvestTN” commitment helped draw other investments to the company, resulting in a total of $300,000, including InvestTN’s $150,000.
“It’s fantastic that our first commitment from the ‘InvestTN’ fund is out of the tri-cities area,” Launch Tennessee’s Chief Investment Officer Eller Kelliher said. “We are planting a flag and saying that there are great entrepreneurs throughout this state, not only in major cities, like Nashville.”
Launch Tennessee noted that Glass-Mullins had a thorough application, which helped the process go smoothly. She had all her due-diligence materials ready, along with a cap table, strong pitch deck, and solid advisors to help her meet the required 1:1 investment match.
“The application process was really straightforward, but it’s only going to be straightforward if you have your ducks in a row,” Glass-Mullins said. In addition to her complete application, she also has support from the Sync Space Entrepreneur Center, part of Launch Tennessee’s statewide partner network.
“InvestTN, part of “FundTN,” is Launch Tennessee’s new $70 million equity investment fund that represents Tennessee’s allocation of the most recent federal State Small Business Credit Initiative (SSBCI 2.0) $10 billion budget.
