Estonian recruitment software provider RecruitLab has secured €1.9 million in seed funding.
The investment round was led by Change Ventures (which backed Eurora) along with StartupIst VC, FFF.vc and the BADideas.fund, an early-stage angel syndicate led by founders and operators of companies such as Bolt, Vimeo, Shopify, Printify, Pipedrive, Deel, Bird, etc.
UK and European expansion plans
RecruitLab will use the money to grow their business to other European markets, increase their staff count by 300%, add new features to their platform, and let recruiters compare themselves against other professionals.
Paavo Heil is the founder and CEO of RecruitLab, a company that provides smaller companies with tools that the bigger businesses might not be able to afford. Using RecruitLab, clients save around 50% of the time they would spend on each recruitment project, and see their return on investment within the first month of using the platform. The system is easy to implement and use; users can set up automation tools without needing extra help. Surprisingly, it is believed that around 50% of employers still use programs like Excel and Outlook to track candidates, despite having a increased workload.
KPMG Baltics Head of People Epp Sillaste said that RecruitLab was chosen because they were looking for a video interviewing tool that featured other key recruiting tools, such as interview planning, talent pooling, automating interview scheduling and follow-up emails, and providing access to important recruitment statistics for recruitment projects that require a lot of time. Although the platform is easy to use, users do not have to undergo extra training.
Change Ventures is an investment company, and Yrjö Ojasaar is an investment partner there. He said, We were incredibly impressed by the RecruitLab reviews, and how the platform compared to enterprise-level Applicant Tracking Systems, in both functionality and pricing for small businesses. Customers said that they were impressed, for the first time being able to even the playing field in recruiting great employees.
Revolutionises recruitment with videos
Paavo Heil started RecruitLab in 2020 in Tallinn, Estonia. The company provides recruiters with information that will improve their performance, save them money, and show them which recruitment websites are best for finding candidates who fit specific job openings.
Their video interview platform speeds up the pre-screening process of candidates, as well as other processes within the recruitment process. The platform also automates many tasks, while also improving the candidate experience. Their video platform is fully GDPR compliant, and can be used with all other recruitment channels. The platform can also be used to create professional job advertisements for social media, in minutes. Original: Recruitment Hero was founded in 2016 by Nicolas Laurier and Benjamin Tuyao. Headquartered in Singapore, the company has over 100 employees spread across 6 offices in Asia and Europe. It offers a video interviewing platform that helps companies streamline their recruitment processes, handle a larger number of candidates, and shorten hiring time by up to 50%. Additionally, the platform improves the candidate experience by simplifying and speeding up pre-screening processes.Paraphrase: Founded by Ben Tuyao and Nicolas Laurier in 2016, Recruitment Hero has over 100 employees working at their 6 offices located in Asia and Europe. The company offers its clients a video interviewing platform that helps make their recruitment process more efficient, while also helping them handle more candidates during their process. The video interviewing platform also allows candidates to have an improved experience by speeding up the pre-screening process.
Circle K, DPD, KPMG, and Tallink are some of the brands that use the company’s services across Germany, Finland, Estonia, Latvia, and Lithuania. Their customers are located all over the UK as well.
