Change Ventures leads RecruitLab’s €1.9M seed round
The latest addition to our portfolio is RecruitLab — all-in-one recruitment platform (ATS, video interviews, job marketing, automations, social, etc) for SMEs to manage their full recruitment cycle.
The company was founded by a trio of entrepreneurs with over a decade of HR market experience — Paavo Heil (CEO), Karl-Sander Erss (CTO) and Marie Evart (CMO). After working for a large online jobs portal and founding a successful recruitment agency the founders recognized a serious unaddressed problem in the HR market, and founded RecruitLab to offer a solution.
Large enterprises (+500 employees) with €50K+ budgets have access to human resource management systems (HRMS) from software giants like SAP, Oracle, Ceridian and Workday to manage the complexities of the hiring process. The reality of recruiting in todays market is that a posting for a typical corporate position receives on average 250 applications with 88% of these applicants not meeting the job requirements. Smaller companies (500–100 employees) have the same challenge, but less staff and technology to manage the hiring challenges.
RecruitLab’s team built and launched their platform to offer “enterprise” level HRMS features for SME-s. The team is arming SMEs with recruiting tools that only the big enterprises could afford before. RecruitLab’s best of breed UI/UX makes adoption and onboarding a breeze, and is usually accomplished with just a 1 hour online call.
RecruitLab’s video-recruitment platform helps streamline and automate the recruitment processes, handle many more candidates, all while reducing hiring time by 50%. Customer feedback also shows that job candidates are much more satisfied with their recruitment experience as well. These advantages have already made RecruitLab the market leader in the Baltics, and won happy clients in UK, Germany and Finland, including internationally known brands like DPD, Circle K, Tallink and KPMG. The proceeds of this round will be used to scale operations in the UK and top EU markets.
We are happy to be joined in our investment by great co-investors: StartupIstanbul, FFF.vc and the Badideas.fund, an early-stage angel syndicate led by founders and operators of companies like Bolt, Vimeo, Shopify, Printify, Pipedrive, Deel, Bird etc.
Founder, Investment Partner
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