Undelucram.ro online community of employees in Romania wants to attract 600,000 euros through the investment platform for technology startups SeedBlink. The listing takes place on May 17 for Seedblink Elite and Classic members, while the listing for all users of the platform will take place on May 20.
The round is also financed by technology venture capital fund GapMinder and Oana Ciornei, managing partner of Amrop – a recruitment company for management positions, with co-investments totalling 100,000 euros of the targeted amount. GapMinder and Oana Ciornei also invested 300,000 euros in Undelucram in 2019. The company also attracted financing of 150,000 euros in 2017.
Revenues of one million euros in the region by the end of 2022
Undelucram is a regional network of online employer branding and recruitment platforms. The platform was launched in 2011 by Costin Tudor (39 years old) and provides information about employers, salaries, benefits and job interviews.
The money will be used for regional growth (Romania, Greece, Hungary, Czech Republic, Moldova, Bulgaria, Ukraine and Poland) and the development of machine learning and job matching algorithms.
The platform has over 750,000 users in the region and aims to reach one million by the end of this year. Also, the management of Undelucram expect the business to grow to one million euros in the region by the end of 2022.
Expansion plans for North Africa and the Middle East
“This investment will support us to strengthen our regional presence and, implicitly, to become a relevant information point in the region. We are also considering expanding to North Africa and the Middle East. In addition, we have developed a series of tools through which we can technically create an Undelucram platform for any geographical area in a maximum of three weeks”, says Costin Tudor, founder and CEO of Undelucram platforms.
The company has expanded since 2019 in Greece, Hungary, the Czech Republic and the Republic of Moldova, and in 2020 began operations in Ukraine, Bulgaria and Poland. Undelucram platforms are operated in the local language and are adapted to each country.
The community operates on a business-to-business model based on an annual subscription and the service offers both Employer Branding and online recruitment. The platform is based on machine learning algorithms and aggregated data about users, data that matches the interests of candidates with those of employers.
“Undelucram.ro is not a conventional recruitment platform, this combines employee feedback with employer branding pages. After being validated by the Romanian market, now the platform is expanding regionally, keeping the imprint of each country. It is a dynamic and innovative startup, which fits well with the typical SeedBlink financing”, says Andrei Dudoiu, co-founder and CEO of SeedBlink.
“We first invested in Undelucram in 2019 when this platform was at the beginning of its regional development. Currently, Undelucram has plans to grow rapidly in Europe and expand in Africa and Asia. We will remain by the side of the entrepreneurs in this round of financing, especially now, when the labor market is undergoing fundamental changes and employees and employers need tools to get to know each other better“, says Sergiu Roșca, founding partner of GapMinder VC.