Catalyst Romania, the first private equity and venture capital fund designed for the domestic market, continues to gather startups with fast growing level in its “constellation”, as Marius Ghenea, Investment Director, likes to say.
Targu Mures based SmartDreamers, a recruitment technology company, gets an EUR 700,000 boost from Catalyst Romania that are going to be invested in product and team development.
In the next six months, startup’s founders aim to increase the number of employees from 12 to 20 and to expand the product locally in Targu Mures and Bucharest, but also in Budapest and other new markets in CEE – Poland, Bulgaria, Czech Republic.
Founded in 2014 by Adrian Cernat, Mihai Ceusan and Marius Huza, SmartDreamers’ platform is currently used by more than 2.000 companies and 100.000 candidates in Romania and Hungary. Unlike traditional recruitment platforms, SmartDreamers’ platform connects companies and candidates through targeted marketing strategies, with a special focus on social media channels.
In 2015 SmartDreamers launched InRecruit, a mobile recruitment application to help companies manage their recruitment processes. Whether it is job-posting through a single click or managing the careers page while managing all candidate profiles, InRecruit expedites the recruitment process from a couple of hours to a couple of minutes.
“SmartDreamers is on a strong growth trajectory and has all the qualities we look for in an investment. We are excited to be partners with them and look forward to supporting the company’s growth. We are especially proud of the investment as this marks an important milestone for Catalyst Romania as the 10th investment of the fund,” Marius Ghenea, Investment Director, Catalyst Romania said in a press conference on Tuesday.
The turnover of the online head-hunting company was EUR 30,000 in 2015 and this year its revenues are estimated to EUR 200,000. The target for 2017 is an ambitious EUR 1 million.
Prior to SmartDreamers, Catalyst Romania has invested in 9 other high-growth Romanian technology companies which include Marketizator, SmartBill, VectorWatch, www.avocatnet.ro Simartis Telecom, www.elefant.ro, Green Horse Games, www.vola.ro and 123ContactForm.
Currently, Catalyst Romania has a market capitalization of about EUR15 million, fund’s total investments amounting to EUR10 million so far.
The private equity fund, that has created 300 new jobs until now, plans other several million euros to support the development of companies in which has involved itself, depending on the opportunities, through follow-ups.
Catalyst Romania is considering for next year possible exits of some of the early investments made.
Initially sponsored by 3TS Capital Partners, one of the leading European tech growth investors, Catalyst Romania is mainly funded by the European Investment Fund (EIF), through the JEREMIE initiative, co-funded by the European Regional Development Fund.
Catalyst Romania supports local SMEs active in the TMT (telecom, media, technology) sector with investments in the range of EUR 200,000 to EUR 2 million.