Undelucram.ro, Romania’s largest online employee community, wants to raise €400,000 through European co-investment platform SeedBlink. The total round is €1 million and will be used to strengthen international expansion and develop its own artificial intelligence technology.
The round is supported by GapMinder (€200,000) and Sofia Angels Ventures, a Bulgarian fund investing €400,000 in this round. On the other hand, this is the third round in which GapMinder invests in Undelucram, the previous financings being in 2021 and 2019.
Undelucram has attracted so far investments of €800,000 in three rounds (2017, 2019 and 2021).
Undelucram is a regional network of online employer branding and recruitment platforms that was launched in 2011 by entrepreneur Costin Tudor. It provides information about employers, salaries, benefits and how job interviews are conducted.
The platform has over one million regional users and plans to reach 4.5 million by the end of 2024. The company’s management also aims to have sales in seven countries by the end of 2024.
Operations in 14 countries. The company started expanding into Asia and Africa this year
Undelucram operates in 14 countries: Romania, Bulgaria, Hungary, Greece, Ukraine, Moldova, Czech Republic, Poland and MENA (Algeria, Egypt, Morocco, Tunisia, Saudi Arabia and Emirates). The company started to expand regionally in 2019, and as of this year has operations outside Europe.
Undelucram’s platforms are in the local language and dedicated to each country. The community operates on a business-to-business model based on an annual subscription, and the service is for both Employer Branding and Online Recruitment areas. The platform is based on machine learning algorithms and aggregated user data that match the candidates’ interests in the job market with those of employers.
“Our project and future plans have helped and will further contribute to the transparency of the international labor market. We choose to see the investment in Undelucram as a vote of confidence that once again confirms the growth trend of our company. I invite potential investors who want to maximize their revenues and at the same time contribute to a fair and balanced labor market to participate in this new round opened by Seedblink for the development of new technologies and the consolidation of international expansion“, says Costin Tudor, founder and CEO of Undelucram Platforms.
“The good results and the team have led us to be with Undelucram again, a company that we are confident can change the labor market through transparency. It is also essential for us the management’s vision of international expansion, and during the last three years Undelucram has made great steps outside Romania”, says Sergiu Roșca, founding partner GapMinder.
“Undelucram has developed a very scalable growth model in the HR platform space where employers and employees have a new way to engage transparently and match their needs. The team has strong understanding of Digital Marketing, Tech & HR with good execution skills, skin-in-the game and willingness to learn and progress fast. We believe that this investment opportunity can deliver a good ROI and the sales plan is very realistic and validated by recent market traction”, declares Milen Ivanov, Managing Partner Sofia Angels Ventures.
“As investors in technology, we have seen how user-generated content is transforming some of the most mature industries, and Undelucram has a solution that addresses a very large market in areas left untouched by the big players of the industry. Undelucram has built a solid business that is well positioned to further influence and drive the online recruitment and employer branding market. We are excited to support their new round of funding on SeedBlink with the help of our community of individual investors”, states Andrei Dudoiu, Managing Partner at SeedBlink.